Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CUMULUS MEDIA INC | g27252e8vk.htm |
| EX-4.3 - EX-4.3 - CUMULUS MEDIA INC | g27252exv4w3.htm |
| EX-4.1 - EX-4.1 - CUMULUS MEDIA INC | g27252exv4w1.htm |
| EX-10.1 - EX-10.1 - CUMULUS MEDIA INC | g27252exv10w1.htm |
Exhibit 99.1
CUMULUS MEDIA INC. LETTERHEAD
Cumulus Media Inc. Announces Pricing of $610.0 Million of 7.75% Senior Notes due 2019
ATLANTA, April 29, 2011 /(BUSINESS WIRE)/ — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company”)
announced today that it has priced its previously announced offering of $610.0 million aggregate
principal amount of 7.75% senior notes due 2019 (the “Notes”). The sale of the Notes is expected
to be completed on May 13, 2011, subject to customary closing conditions.
As a part of its refinancing transactions in connection with its pending acquisitions of Cumulus
Media Partners, LLC and Citadel Broadcasting Corporation, the Company intends to use the net
proceeds from the offering of Notes to (i) repay in full all outstanding amounts under the term
loan facility under the Company’s existing senior secured credit facilities and (ii) pay fees and
expenses related to the offering of Notes. Any remaining proceeds will be used for general
corporate purposes.
The Notes and the related guarantees have not been, and will not be, registered under the Act or
the securities laws of any other place and may not be offered or sold in the United States absent
registration or an applicable exemption therefrom. The Notes will be offered only to qualified
institutional buyers under Rule 144A and to persons outside the United States under Regulation S.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the
Notes or any other securities, and shall not constitute an offer, solicitation or sale of any Notes
or other securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful. This notice is being issued pursuant to and in accordance with Rule 135c under the Act.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than
historical fact, and include statements relating to the offering of Notes, including the Company’s
ability to complete the offering, and the use of proceeds thereof. These statements are based on
management’s current expectations and beliefs and involve significant risks and uncertainties that
may cause results to differ materially from those set forth in the statements. These and other risk
factors that could cause actual results to differ materially from those expressed or implied in our
forward-looking statements are and will be discussed in the Company’s filings with the Securities
and Exchange Commission from time to time, including its most recent annual report on Form 10-K and
any subsequently filed periodic reports. The Company undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts:
Cumulus Media Inc.
J.P. Hannan, 404-260-6600
Senior Vice President, Treasurer & Chief Financial Officer
J.P. Hannan, 404-260-6600
Senior Vice President, Treasurer & Chief Financial Officer
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