NEW YORK -- (Business Wire)

MURRAY FRANKLLPis investigating claims of breaches of fiduciary duties by certain members of the Board of Directors of Citadel Broadcasting Corporation (OTC: CDELB.PK) (“Citadel” or the “Company”) in relation to the acquisition of the Company by Cumulus Media Inc. (NASDAQ: CMLS) (“Cumulus”).

On March 10, 2011, Citadel announced that the Company had entered into an agreement in which the Company will be acquired by Cumulus. Pursuant to the proposed agreement, Citadel stockholders will have the right to elect to receive $37.00 in cash or 8.525 shares of Cumulus Class A common stock for each share of Citadel common stock they own. Based on the March 9, 2010 closing price of Cumulus common stock of $5.10, the deal is valued at $2.5 billion. The transaction is expected to close by the end of 2011.

The investigation seeks to determine whether certain members of the Board of Directors breached their fiduciary duties to Citadel’s shareholders in approving the sale of the Company for less than adequate compensation through an unfair process which significantly undervalues the Company.

If you are a current investor in Citadel who purchased Citadel shares before March 10, 2011, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Katherine E. Smith at (800) 497-8076 or (212) 682-1818, or by email at investigations@muarrayfrank.com.

Contacts:

MURRAY FRANK LLP
Katherine E. Smith
800-497-8076
212-682-1818
investigations@murrayfrank.com
www.murrayfrank.com

Source: MURRAY FRANK LLP