7/25/2001
TRIAD BROADCASTING COMPANY TO ACQUIRE TALLAHASSEE RADIO STATION FROM CUMULUS MEDIA
Fourth Tallahassee FM Brings Triad Stations to 43 Nationwide

MONTEREY, CA, and TALLAHASSEE, FL, July 25, 2001 – Triad Broadcasting Company, L.L.C., of Monterey, CA, owner and operator of small and mid-market radio stations, today announced that it has contracted to acquire the FM radio frequency 106.1, licensed to Tallahassee, FL, from Cumulus Media Inc. (NASDAQ:CMLS), of Atlanta. The new addition will give Triad a total of four radio stations in Tallahassee, including WYZR-FM, WAIB-FM and WHTF-FM. The FM cluster will be managed by radio veteran, Allan Herman, Triad Vice President and Market Manager.

David Benjamin, President and Chief Executive Officer of Triad Broadcasting Company, said: “We’re delighted to increase our presence in this dynamic, growing market with the addition of this new FM station. Under the strong leadership of Allan Herman, Triad’s new market manager in Tallahassee, we will continue to serve our audiences there with the quality radio for which Triad is becoming known. The format for 106.1 will complement our current array of active rock, country and CHR, and will offer greater choice and value for listeners and advertisers, which is good news for everyone.”

Lew Dickey, Chief Executive Officer of Cumulus Media Inc. added: “We are pleased to reach an agreement for this sale to Triad Broadcasting Company, our competitor in Tallahassee. This transaction allows Cumulus to acquire a separate, independent signal in the market, which we are delighted about. The transaction is truly beneficial to both our company and Triad Broadcasting Company.”

Steve Fehder, Triad’s Senior Vice President and Director of Operations for Eastern U.S., said: “Triad Broadcasting is programming some of the best radio in Tallahassee through our high-performing stations there. The addition of 106.1 will only enhance our ability to reach larger, more diverse audiences in one of the fastest-growing markets in the country. We are very excited to welcome this frequency to our trio of popular stations in Tallahassee, and look forward to tapping the potential of the new station, and build upon the excellence already in place at its sister Triad stations.”
Triad Broadcasting Company was formed in July, 1999, by President and Chief Executive Officer, David J. Benjamin, founder of Community Pacific Broadcasting Company. With the addition of the new Tallahassee station to the three stations that it owns in the market, Triad Broadcasting currently owns and/or operates a total of 43 radio stations in seven high-growth markets within ten states, including: six stations in Biloxi, MS; five stations in Lincoln and Beatrice, NE; five stations in Fargo, ND; seven stations in Rapid City, SD; nine stations in Bluefield, WV, and seven stations in the Hilton Head, SC-Savannah, GA, market.