COMPANY PROFILE
The Telecommunications Act of 1996 removed the restrictions on radio station ownership to provide for the ownership of multiple stations within prescribed limits that would be certain to ensure listener and advertiser choice.
Cumulus Media was established in 1997 and based on its current number of stations, it is the second largest broadcasting company. Cumulus Media focuses on acquiring, operating and developing radio stations in mid-size radio markets in the U.S.
Cumulus Media will own and operate a total of 225 radio stations (164 FM and 61 AM) in 45 U.S. markets upon consummation of our pending acquisitions and dispositions. Accordingly Cumulus has assembled market-leading groups or clusters of radio stations which rank first or second in terms of revenue share and/or audience share in substantially all of our markets. On a historical basis, for the year ended December 31, 2000, Cumulus Media net revenues were $225.9 million and Broadcast cash Flow of $34.6 million.
Cumulus Media is dedicated to the simple and traditional notion that consistently high-quality programming provides a solid foundation for building successful relationships with both listeners and advertisers. Cumulus Media emphasis on programming excellence lies at the core of its business strategy.
Cumulus Media is dedicated to the idea of community and to the communities we actually serve. Cumulus Media embraces the vital communications role which all local media must play in the life of the community and the obligation to be responsive to listener preferences and the advertiser need for a quality service at a competitive price.
Cumulus Media is dedicated to providing choice to both listeners and advertisers by developing and managing each Cumulus station as its own brand with its own programming content and personality, its own inventory of radio spots, and its own pricing levels. Each station has its own team of on-air talent to serve listeners and its own team of professionals to serve advertisers.
Cumulus Media is dedicated to people and to the belief that people make the difference in every enterprise, big or small. We are proud to have the best people in every professional position in every community we serve. We strive to make our company a rich context for professional growth and personal success.
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