At a meeting of the board of directors of Cumulus Media Inc. on March 20, 2017, Lewis W. Dickey, Jr., Vice Chairman of the board, notified the company that he was resigning from the board in order to pursue other professional interests. Mr. L. Dickey, together with other members of his family, are parties to a stockholders agreement, dated as of September 16, 2011 by and among the Company, the Dickeys and Crestview Radio Investors, LLC (‘Crestview'), among others (the Stockholders' Agreement), pursuant to which the Dickeys are entitled to designate one member of the Board. Mr. L. Dickey informed the Board that the Dickeys were designating his brother John W. Dickey, to replace Mr. L. Dickey as their designee on the Board. The Board then voted to accept Mr. L. Dickey's resignation, and to elect Mr. J. Dickey to replace Mr. L. Dickey as a member of the Board, all effective immediately following the conclusion of the Board meeting on March 20, 2017. Also on March 20, 2017, Brian Cassidy, one of Crestview's designees to the Board under the Stockholders' Agreement, separately notified the Company that he was resigning from the Board due to his other professional commitments, and Crestview informed the Company that in accordance with its designation rights under the Stockholders' Agreement, it was designating Ross Oliver as the successor designee to Mr. Cassidy. The Board then voted to accept Mr. Cassidy's resignation and to elect Mr. Oliver to replace Mr. Cassidy, all effective immediately following the conclusion of that Board meeting. Mr. Oliver was also appointed as a member of the Audit Committee of the Board.
Cumulus Media Inc. is an audio-first media company. The Company provides listeners with local programming through 404 owned-and-operated stations across 85 markets; delivers nationally syndicated sports, news, talk, and entertainment programming from iconic brands. Its iconic brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other partners across more than 9,400 affiliated stations through Westwood One, the audio network in America. The Company provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, influencers, full-service audio solutions, industry-leading research and insights, and live event experiences.
CUMULUS MEDIA INC. 
