Businessweek

Cumulus Media Inc. owns and operates commercial radio station clusters throughout the United States. As of December 31, 2012, the company owned or operated approximately 517 radio stations in 108 media markets in the United States and operated nationwide radio networks serving approximately 5,000 affiliates. As of December 31, 2012, under local marketing agreements (LMAs), the company provided sales and marketing services for 14 radio stations in the United States. Advertising The company sells local, regional, and national advertising for broadcast on its radio stations. The major categories of the company’s advertisers consist of: amusement and recreation, banking and mortgage, furniture and home furnishings, arts and entertainment, food and beverage services, healthcare services, automotive dealers, food and beverage stores, and telecommunications. Regulation Federal Regulation of Radio Broadcasting: The ownership, operation and sale of radio broadcast stations, including those licensed to the company, is subject to the jurisdiction of the Federal Communications Commission, which acts under authority of the Communications Act of 1934, as amended (the ‘Communications Act’). History Cumulus Media Inc. was founded in 1997.