Business Services Industry
Cumulus Media Inc. to Participate in Test of Electronic Measurement System Devised by The Media Audit/Ipsos
Business Wire, March 22, 2006
ATLANTA -- Cumulus Media Inc. (NASDAQ: CMLS) today announced that it will encode broadcasts from its Houston, Texas radio stations to participate in the upcoming test of an electronic ratings measurement system devised by The Media Audit and Ipsos.
Cumulus Media Chairman and CEO, Lew Dickey commented, "We view our participation in this cell phone-based electronic measurement test as an essential first step. We are strongly committed to the development and subsequent roll-out of an electronic measurement technology that accurately captures all radio listening in a timely and efficient manner."
Cumulus Media joins four other radio station owners in supporting and participating in The Media Audit/Ipsos test.
About Cumulus Media Inc.
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, LLC ("CMP"), will own and operate 345 radio stations in 67 U.S. media markets. In connection with the formation of CMP, Cumulus has agreed to contribute its Houston and Kansas City radio operations and assets to CMP in exchange for an equity stake initially valued at approximately 25% of the equity of CMP. The Company's headquarters are in Atlanta, Georgia, and its web site is www.cumulus.com.
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 our success in executing and integrating acquisitions, 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 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' filings with the Securities and Exchange Commission, including Cumulus' Form 10-K for the year ended December 31, 2005. Cumulus assumes no responsibility to update the forward-looking statements contained in this release as a result of new information, future events or otherwise.
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