Cumulus Media and Citadel Broadcasting Announce that the Department of Justice Has Completed its Antitrust Review of Their Pending Merger

Cumulus Media Inc. CMLS and Citadel Broadcasting Corporation CDELA today announced that they have been notified by the Premerger Notification Office of the Federal Trade Commission of the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 regarding the review of the pending merger of Cumulus Media and Citadel. The early termination of the waiting period satisfies the condition to the completion of the Merger relating to the expiration or termination of any applicable waiting period under the HSR Act. The Merger remains subject to the approvals by the Federal Communications Commission and the stockholders of Citadel, as well as other customary closing conditions. As previously disclosed, Citadel's special meeting of stockholders to approve the Merger will be held on Thursday, September 15, 2011, and the deadline for Citadel's stockholders to make an election with respect to the consideration they wish to receive in the Merger is 5:00 p.m., New York City time, also on September 15, 2011.