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Cumulus Media Announces Agreement To Acquire WFME-FM

Stocks in this article: CMLS

ATLANTA, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Cumulus Media (Nasdaq:CMLS), the nation's largest pure-play radio broadcaster, announces that it has signed a definitive agreement to purchase WFME-FM -- providing Cumulus a third station in New York City. The transaction is expected to close in the fourth quarter of 2012, and the company will announce format plans for the station at that time.

"This strategic acquisition of our second FM in the nation's largest market will enable us to provide compelling new programming for our listeners and a powerful marketing vehicle for our advertising partners," said Lew Dickey, CEO of Cumulus.

ABOUT CUMULUS MEDIA

Cumulus Media (Nasdaq:CMLS) is the largest pure-play radio broadcaster in the United States with approximately 525 stations in 110 markets, a fully-distributed programming network serving more than 4,500 affiliates nationwide and SweetJack, the local deals platform that will serve 200 U.S. markets by the end of 20212. Cumulus strives to create the next generation radio broadcasting and digital enterprise based on great people and technological excellence. Cumulus provides high-quality local programming choices for listeners and advertisers, challenging career environments for employees and value opportunities for shareholders. For more information, visit cumulus.com.

CONTACT: Investor Relations Contact:
         Collin Jones
         404 260 6600
         collin.jones@cumulus.com
         
         Media Contact:
         Davidson Goldin
         212 319 3451 x640
         david@goldinsolutions.com

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