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CUMULUS NEWS RELEASE FEB 2, 2000 CUMULUS ACQUIRES RADIO SALES
TRAINING COMPANY, Web-Based Training System Planned
MILWAUKEE, WI February 2, 2000 -- Cumulus Media Inc. (NASDAQ: CMLS), today announced that it has purchased The AdVisory Board Inc. (TAB), dba The Lytle Organization, the largest sales training company serving the radio broadcasting industry. TAB will be operated as a wholly owned subsidiary of Cumulus. TAB and its founder Chris Lytle will provide training services to the Cumulus sales organization, other non-competing broadcasters and the general business market. The purchase price was undisclosed. “We are delighted to secure Chris Lytle as a dedicated resource for Cumulus,” said Lew Dickey, Vice Chairman of Cumulus. “Over the past 18 years, Chris has established himself as the premier sales trainer in the industry. He has earned the brand. His organization will be an invaluable part of our training mission.” Founded in 1982 by Chris Lytle and Sarah McCann, TAB is a developer of proprietary sales training materials consisting of correspondence courses, certification courses, seminars, videos, audiotapes, articles and newsletters. In addition, TAB administers sales skills testing products, which augment client company’s recruiting and personnel development functions. TAB is the largest sales training company serving the radio broadcast industry with more than double the size of its nearest competitor. In addition, over the past two years TAB has taken its core sales training concepts and has begun marketing them to the general business population. Cumulus envisions extending training services to the Internet. Cumulus Executive Chairman Richard Weening said, “A top priority will be the conversion of TAB’s excellent materials to a web-based interactive environment to serve our own organization and others.” 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 serving 61 U.S. markets.
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