Cumulus Media Inc. Increases Stock Repurchase Program.

ATLANTA -- Cumulus Media Inc. (NASDAQ: CMLS) today announced that its Board of Directors has authorized up to an additional $100 million in repurchases of its shares of Class A Common Stock. In September 2004, Cumulus had authorized an initial $100 million stock repurchase program.

Lew Dickey, Chairman, President and Chief Executive Officer, commented, "We are pleased to announce the completion of our initial $100.0 million Board approved stock repurchase program, as well as the authorization of an additional $100.0 million for future repurchases. This additional capacity gives us the flexibility to continue to invest our tremendous free cash flow in the most accretive way possible."

As of December 6, 2005, Cumulus had completed the repurchase of 7,871,627 shares of Class A Common Stock for approximately $99.0 million or at an average price of $12.56 per share. Based on shares outstanding at the outset of the Board approved program, the Company has repurchased approximately 11% of its outstanding common stock. Giving effect to the increased authorization, Cumulus now has a total of $101.0 million authorized for share repurchases. Repurchases may be made in the open market or through block trades, in compliance with Securities and Exchange Commission guidelines, subject to market conditions, applicable legal requirements and various other factors, including the requirements of Cumulus' credit facility. Cumulus has no obligation to repurchase shares under the repurchase program, and the timing, actual number and value of shares to be purchased will depend on the performance of Cumulus' stock price and market conditions.

Cumulus' current credit facility, which took effect in July 2005, limits Cumulus' ability to repurchase more than $150 million in stock during the term of the facility, unless its leverage ratio is less than 4.5 to 1.0. Through December 3, 2005 Cumulus had repurchased approximately $76.5 million in stock during the term of the credit facility. Future repurchases, therefore, will be limited to not more than $73.5 million, unless Cumulus' leverage ratio drops below 4.5 to 1.0, or unless Cumulus obtains authorization from its lenders to waive the limitation and allow further repurchases. As of September 30, 2005, Cumulus' leverage ratio was 5.4 to 1.0. There can be no assurance as to Cumulus' ability to lower its leverage below 4.5 to 1.0 or to obtain authorization from its lenders to waive that limitation.

Cumulus Media Inc. is the second-largest radio company in the United States based on station count. Giving effect to the completion of all pending acquisitions and divestitures, Cumulus Media Inc., directly and through its investment in Cumulus Media Partners, will own and operate 343 radio stations in 67 U.S. media markets. Cumulus' 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.

Certain statements in this release may constitute "forward-looking" statements, which are statements that relate to Cumulus' 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 its 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.