FCC OKs Cumulus-Citadel Merger

ATLANTA & Las vegas–(BUSINESS WIRE)–Cumulus Media Corporation. (Cumulus Media) (NASDAQ: CMLS) and Citadel Broadcasting Corporation (Citadel) (OTCQB: CDELA) (OTCQB: CDELB) (OTCQB: CDDGW) today introduced the government Communications Commission (FCC) has approved the pending merger from the wholly-possessed indirect subsidiary of Cumulus Media and Citadel (the Merger). Using this approval as well as the formerly introduced termination in the waiting period beneath the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act), Cumulus Media and Citadel have recently received all needed controlling mortgage loan home loan approvals concerning the the Merger. As formerly revealed, concerning the the termination in the waiting period beneath the HSR Act, Cumulus Media will divest three r / c by 50 percent areas Flint, Michigan and Harrisburg, Pennsylvania. The Merger remains prone to approval with the stockholders of Citadel, together with other customary closing conditions. Also as formerly revealed, Citadels special meeting of stockholders to approve the Merger will probably be held on Thursday, September 15, 2011, as well as the deadline for Citadels stockholders to produce an election concerning the consideration they wish to receive inside the Merger is 5:00 p.m., NY City time, also on September 15, 2011.