Cumulus Names New EVP/CFO

• Cumulus Media Inc. announced that Frank Lopez-Balboa has been appointed Executive Vice President and Chief Financial Officer, effective March 23. Lopez-Balboa brings over 30 years of experience in finance, business strategy, M&A and executive leadership to Cumulus, most recently serving as EVP/CFO of Univision Communications Inc. Prior to Univision, Lopez-Balboa spent more than 20 years in investment banking at Goldman Sachs, and later served as Head of Telecom, Media, Technology and Investment Grade Financing.

Lopez-Balboa will report to Mary G. Berner, President and Chief Executive Officer, who commented, “We are pleased to welcome Frank as our new Chief Financial Officer. A widely respected executive, he is an ideal fit with Cumulus. Frank comes to us with a deep understanding of our industry, significant expertise in corporate finance and strategy and an impressive record of running a major, multi-location finance organization. I’m confident, especially in these challenging times, that Frank will make a significant contribution to our progress against our financial goals and key strategic initiatives to continue creating value for our shareholders.”

Lopez-Balboa said, “I have followed Cumulus closely over the last several years and greatly admire the success it has achieved in executing its turnaround. I’m excited to have this opportunity to join Cumulus and look forward to working closely with Mary, the finance team and the entire company to continue driving strong results.”