Cumulus Media Inc. Enters Huntsville, AL with Purchase of Four Stations.

Entertainment Editors/Business Editors/Radio Writers

ATLANTA--(BUSINESS WIRE)--April 1, 2003

Cumulus Media Inc. (Nasdaq:CMLS) today announced it has signed an Acquisition Agreement to purchase stations from Athens Broadcasting Company, Inc. which owns WZYP-FM, WUSX-FM, WVNN-AM and WUMP-AM. The purchase price is $22 million and includes approximately $2.5 million of net working capital. The consideration for this transaction will consist entirely of Cumulus Media Class A common stock. The number of shares to be delivered at closing will be determined based upon an average closing price for a period prior to closing. Cumulus will operate the stations prior to closing under a Local Marketing Agreement ("LMA").

Cumulus' Chairman and CEO, Lew Dickey, commented, "We are very pleased to announce the acquisition of these great assets in the rapidly growing Huntsville, AL market (metro rank 118). This transaction is highly accretive and de-leveraging as we are using our stock as consideration."

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 will own and operate 268 radio stations in 55 mid-size, U.S. media markets. The company's headquarters are in Atlanta, Georgia, and its web site is www.cumulus.com.

Statements in this release, including statements relating to the integration of acquisitions and any earnings or revenue projections, are "forward-looking" statements, which are statements that relate to Cumulus Media Inc.'s future plans, revenues, broadcast cash flows, 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 political 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, 2001. 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.