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CUMULUS NEWS RELEASE JAN 10, 1999 CUMULUS MEDIA INC. FILES SHELF
REGISTRATION STATEMENT
MILWAUKEE, WI January 10, 2000 -- Cumulus Media Inc. (NASDAQ: CMLS), currently the nation’s second largest owner-and-operator of radio stations (based upon the number of stations owned or to be acquired pursuant to pending acquisition agreements), today announced that it has filed a shelf registration statement on Form S-3 to sell from time to time up to 10,000,000 shares of its Class A Common Stock. Cumulus Media Inc. plans to use the net proceeds from the sale of its securities to fund its pending acquisitions, as well as for other general corporate purposes. Cumulus Media Inc. is a radio broadcasting company focused on the acquisition,
operation and development of radio stations in Arbitron-rated mid-sized
U.S. cities. The Company's portfolio of currently owned stations and pending
acquisitions includes 311 stations clustered in 61 U.S. markets.
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