Cumulus Reports Third Quarter 2010 Results: EPS of $0.23

Cumulus Media Inc. CMLS today reported financial results for the three and nine months ended September 30, 2010. Lew Dickey, Chairman & CEO stated, “We continue to innovate the radio business model to achieve industry leading EBITDA growth. Our technology platform is driving increased efficiencies as our LTM EBITDA margins improved 100 bps to 31%. Our management systems are directing scores of new sellers generating thousands of new advertisers across our platform while keeping cost of sales in check. Our low cost of capital and expanding margins combine to enable us to generate considerable free cash flow to accelerate our de-leveraging.” EPS was $0.23