FCC OKs Cumulus-Citadel Merger

ATLANTA & Vegas–(BUSINESS WIRE)–Cumulus Media Corporation. (Cumulus Media) (NASDAQ: CMLS) and Citadel Broadcasting Corporation (Citadel) (OTCQB: CDELA) (OTCQB: CDELB) (OTCQB: CDDGW) today introduced the Federal Communications Commission (FCC) has approved the pending merger of the wholly-possessed indirect subsidiary of Cumulus Media and Citadel (the Merger). With this particular approval and also the formerly introduced termination from the waiting period underneath the Hart-Scott-Rodino Antitrust Enhancements Act of 1976 (the HSR Act), Cumulus Media and Citadel have finally received all needed regulating home loan approvals regarding the the Merger. As formerly revealed, regarding the the termination from the waiting period underneath the HSR Act, Cumulus Media will divest three r / c in 2 marketplaces Flint, Michigan and Harrisburg, Pennsylvania. The Merger remains susceptible to approval through the stockholders of Citadel, along with other customary closing conditions. Also as formerly revealed, Citadels special meeting of stockholders to approve the Merger is going to be held on Thursday, September 15, 2011, and also the deadline for Citadels stockholders to create an election regarding the consideration they would like to receive within the Merger is 5:00 p.m., NY City time, also on September 15, 2011.