Cumulus Media Continues Expansion; Fills Out Columbus, Georgia Market.MILWAUKEE--(BUSINESS WIRE)--Dec. 21, 1998--Cumulus Media Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMLS CMLS Central Minnesota Legal Services CMLS Chemical Movement in Layered Soils CMLS Centralized Mail List Services (GSA) CMLS Contractor Maintenance & Logistics Support ) today announced that it has added to its cluster of radio stations in Columbus, Georgia with the purchase of two additional stations. The Company is purchasing WDAK-AM and WSTH-FM from Solar Communications Co., Inc. for $4.5 million. Cumulus currently owns WVRK-FM, WGSY-FM, WAGH-FM, WBFA-FM WPNX-AM and WMLF-AM in the Columbus, Georgia market. In addition to its stations in Columbus, Cumulus also operates stations in several other southeastern markets nearby, including Tallahassee, FL, Montgomery, AL and Albany, GA. Including the stations listed in this announcement, as well as pending acquisitions, Cumulus now operates 194 stations in 36 markets. Following FCC approval and completion of all pending acquisitions, Cumulus will own and operate 209 stations in 39 markets. Ranked as the 166th largest radio market in the United States, Columbus has a population of more than 275,700 people and annual retail sales exceeding $2.6 million. Columbus is home to several Fortune 500 and nationally-recognized companies, including AFLAC AFLAC American Family Life Assurance Company AFLAC American Family Life Assurance Company of Columbus AFLAC Apologies For Lack of Audi Content (Audi listservs) and Total System Services. A short drive from both Montgomery, the capital of Alabama Noun 1. capital of Alabama - the state capital of Alabama on the Mobile River Montgomery Alabama, Camellia State, Heart of Dixie, AL - a state in the southeastern United States on the Gulf of Mexico; one of the Confederate states during the American Civil War , and Atlanta, the capital of Georgia, Columbus also houses Fort Benning, the United States Army United States Army Major branch of the U.S. military forces, charged with preserving peace and security and defending the nation. The first regular U.S. fighting force, the Continental Army, was organized by the Continental Congress on June 14, 1775, to supplement local Infantry Center, as well as Columbus State University Columbus State University is a four-year public liberal arts university located in Columbus, Georgia. The university was established and is administered by the Board of Regents of the University System of Georgia, and is fully accredited by the Commission on Colleges of the , with more than 5,300 students and faculty. Cumulus Media Inc. is a radio broadcasting company focused on the acquisition, operation, and development of radio stations in mid-sized and smaller radio markets in the U.S. In July 1998, Cumulus completed an initial public offering of common stock and the sale of preferred stock and bonds for total gross proceeds of $402 million. |
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