Cumulus Media Inc. Announces Negotiations to Refinance Existing Credit Facility.

ATLANTA -- Cumulus Media Inc. (NASDAQ: CMLS) today announced that it is in preliminary negotiations to enter into a new $700.0 million senior secured credit facility, to consist of a seven-year term loan facility of $350.0 million and a seven-year revolving commitment of $350.0 million. The proposed new credit facility would replace the Company's existing $675.0 million credit facility. The Company is pursuing the possible refinancing in order to take advantage of current favorable market conditions, and expects the proposed new credit facility to contain terms and conditions and a collateral package substantially similar to its existing credit facility. Total debt to EBITDA as of March 31, 2005 on an actual basis was, and giving effect to the proposed refinancing is expected to remain, approximately 5.0 times. Likewise, cash interest coverage as of March 31, 2005 on an actual basis was, and giving effect to the proposed refinancing is expected to remain, approximately 5.2 times before capital expenditures. The refinancing remains subject in all respects to the negotiation and execution of a definitive credit agreement and there can be no assurance that such an agreement will be entered into or be on the terms described above.

Cumulus Media Inc. is the second largest radio company in the United States based on station count. Giving effect to the completion of all announced pending acquisitions and divestitures, Cumulus Media Inc. will own and operate 310 radio stations in 61 mid-size and smaller U.S. media markets. The Company's headquarters are in Atlanta, Georgia, and its web site is www.cumulus.com. Cumulus Media Inc. shares are traded on the NASDAQ National Market under the symbol CMLS.

Statements in this release may constitute "forward-looking" statements, which are statements that relate to Cumulus Media Inc.'s future plans, revenues, station operating income, earnings, objectives, expectations, performance, and similar projections, as well as any facts or assumptions underlying these statements or projections. Actual results may differ materially from the results expressed or implied in these forward-looking statements, due to various risks, uncertainties or other factors. These factors include competition within the radio broadcasting industry, advertising demand in our markets, the possibility that advertisers may cancel or postpone schedules in response to national or world events, competition for audience share, our success in executing and integrating acquisitions, our ability to generate sufficient cash flow to meet our debt service obligations and finance operations, and other risk factors described from time to time in Cumulus Media Inc.'s filings with the Securities and Exchange Commission, including Cumulus Media Inc.'s Form 10-K for the year ended December 31, 2004. Cumulus Media Inc. assumes no responsibility to update the forward-looking statements contained in this release as a result of new information, future events or otherwise.