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Cumulus Media Adds 3 Stations in Bismarck; Completes North Dakota Group for $4.5 Million.

MILWAUKEE--(BUSINESS WIRE)--Jan. 5, 1999--Cumulus Media Inc. (NASDAQ:CMLS) today announced that it has expanded its operations in Bismarck, North Dakota with the purchase of two additional stations. The Company is purchasing KSSS-FM, KBMR-AM and the-soon-to-be-launched, 50,000 watt KXMR-AM from Anderson Broadcasting Corp. The total purchase price is $4.5 million. The Cumulus group in Bismarck now comprises 4 FM and 3 AM stations including KACL-FM, KBYZ-FM, KKCT-FM and KLXX-AM acquired earlier this year.

"Andy Anderson is a true pioneer and has made a significant contribution to North Dakota broadcasting," said Richard Weening, Cumulus Executive Chairman. "He and his family have built some excellent radio stations which we are proud to include as an important part of our group in Bismarck."

In addition to its stations in Bismarck, Cumulus also operates 61 stations in 13 cities in the Midwestern states, including Minnesota, Wisconsin, Illinois, Michigan, Ohio and Kansas. Including the stations in this announcement, as well as acquisitions pending FCC approval, Cumulus will own and operate a total of 212 stations in 39 cities across the U.S.

Bismarck is the state capital of North Dakota, and houses several well-known companies including Burlington Northern Railroad, Melroe Manufacturing and a division of Amoco Oil/British Petroleum. The market is ranked 259th overall in the U.S. by Arbitron and ranks the 5th highest in the U.S. in terms of radio advertising revenues per dollar of retail sales, a key indicator of radio's relative attractiveness to advertisers.

Cumulus Media Inc. is a radio broadcasting company focused on the acquisition, operation, and development of radio stations in mid-sized and smaller U.S. cities.
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Publication:Business Wire
Geographic Code:1U4ND
Date:Jan 5, 1999
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