CBS Creates New Sports Radio Network CBS SPORTS RADIO

In an unprecedented move that establishes what will be the nation's most listened to sports radio network across the Top 50 markets, CBS Corporation today announced it has created CBS Sports Radio, a 24-hour, seven-day-a-week lineup of national programming from premier entities CBS RADIO and CBS Sports.

Cumulus Media, the largest pure-play radio broadcaster in the United States, is the network's exclusive syndicator and sales partner to secure affiliate agreements and ad sales with radio stations nationwide through Cumulus Media Networks. In addition, Cumulus will make CBS Sports Radio programming available on 67 of its owned stations.

At launch, CBS Sports Radio will reach listeners in nine of the nation's Top 10 markets, with a cumulative audience reach at debut close to 10 million listeners – nearly 90% of them located in Top 50 markets.

"As one of the leading media companies in the world, and a dominant force in sports programming, we look forward to bringing to bear the full resources of CBS and capitalizing on an exciting new growth opportunity for the company," said Leslie Moonves, President and CEO, CBS Corporation. "CBS Sports and CBS RADIO have been widely recognized for their outstanding contributions to sports broadcasting. This next step in their evolution will serve an ever-expanding audience of sports fans from coast to coast."

"We are pleased to partner with CBS to deliver the leading entrant into the sports radio market," said Lew Dickey, Chairman, President and CEO, Cumulus Media. "CBS Sports Radio is an exciting opportunity for us to offer compelling sports content to listeners nationwide, and unique sports marketing opportunities for our advertisers."

CBS Sports Radio is designed to enhance CBS's existing sports properties and extend the national reach of the CBS Sports and CBS RADIO brands to additional outlets across the country. Programming will be led by the award-winning team at CBS RADIO, owners and operators of such #1-rated sports stations WFAN-AM in New York, WSCR-AM in Chicago, WIP-FM in Philadelphia, WBZ-FM in Boston and WXYT-FM in Detroit, among others.

"This is a great day for CBS RADIO and sports fans nationwide," said Dan Mason, President and CEO, CBS RADIO. "For more than two decades we have owned local sports radio and appreciate great talent and programming that resonates with listeners and elicits passionate dialogue and debate. We are bullish our expertise and prior achievements will allow us to successfully complement our existing businesses while expanding into what until now has been a largely unchallenged sector of the radio business."

"In this era of growing multimedia platforms, the addition of a national radio network to CBS Sports' broadcast, cable and digital properties allows us to extend the storied CBS Sports brand to radio listeners across the country," said Sean McManus, Chairman, CBS Sports. "We are pleased CBS Sports Radio will allow fans to consume CBS Sports content on a different platform from some of the most recognizable and respected broadcasters in the industry."

Elements of CBS Sports Radio will include:

24/7 all-sports talk radio lineup to debut on Wednesday, Jan. 2, 2013. Original programs across multiple weekday and weekend time periods will feature expert sports commentary and interviews with major sports figures along with listener calls and fan interaction. All shows will broadcast live with an array of hosts, anchor teams and contributors.

Opportunities for affiliates to regionalize their lineup by choosing from select programs currently featured on CBS RADIO or Cumulus sports stations.

Beginning on Tuesday, Sept. 4, CBS Sports updates can be heard on all network affiliate stations (see attachedlist). Headlines, breaking news and scores from the day's major events and stories will be heard hourly.

Contributions from sport-specific experts, as well as a prominent role on the network from CBS Sports, CBS Sports Networks and CBSSports.com's roster of high-profile personalities delivering analysis, features and special reports.

Online streaming of live network broadcasts.

The following CBS RADIO stations will add various components of CBS Sports Radio programming to their lineup:

WFAN-AM (New York)
WSCR-AM (Chicago)
KRLD-FM (Dallas)
KILT-AM (Houston)
WJFK-FM (Washington, D.C.)
WIP-FM (Philadelphia)
WBZ-FM (Boston)
WXYT-FM (Detroit)
WSJT-FM (Tampa)
WJZ-FM (Baltimore)
WFNZ-AM (Charlotte)
KDKA-FM (Pittsburgh)
KHTK-AM (Sacramento)
WKRK-FM (Cleveland)

The following CBS RADIO stations will broadcast CBS Sports Radio programming as their 24/7 lineup when the network debuts on Jan. 2, 2013:

KIKK-AM (Houston)
WIP-AM (Philadelphia)
WXYT-AM (Detroit)
WQYK-AM (Tampa)
WJZ-AM (Baltimore)
WBCN-AM (Charlotte)
KRAK-AM (Riverside)
KYDZ-AM (Las Vegas)

The following Cumulus radio stations in the Top 100 markets will broadcast CBS Sports Radio programming:

KNBR-AM (San Francisco)
KTCT-AM (San Francisco)
KTCK-AM (Dallas)
WCNN-AM (Atlanta)
WGFX-FM (Nashville)
WSJZ-FM (Orlando)
WHGB-AM (Harrisburg/Lancaster)
WJOX-A/F (Birmingham)
WBBL-FM (Grand Rapids)
WWLS-A/F (Oklahoma City)
KNML-AM (Albuquerque)
WMTI-FM (New Orleans)
KARN-AM (Little Rock)
WNML-A/F-WNRX-FM (Knoxville)
KCUB-AM (Tucson)
WWBU –FM (Roanoke)
WTRX-AM (Flint)
WLQR-FM (Toledo)
WBGG-AM (Des Moines)
WNKT-FM/WYMB-AM (Columbia, S.C.)
WUMP-AM (Huntsville)

WSKO-AM (Syracuse)
KLTD-FM (Waco)
WXSM-AM (Tri Cities)
KCSF-AM (Colorado Springs)
WZAT-FM/WJLG-AM (Savannah)

CBS Corporation is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins thatdate back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand – "the Eye" – one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, outdoor advertising, and interactive and socially responsible media. CBS's businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia.

Cumulus Media (NASDAQ: CMLS) is the largest pure-play radio broadcaster in the United States with approximately 570 stations in 120 U.S. cities and a fully-distributed network serving more than 4,500 affiliates nationwide. The company's radio and digital brands target numerous large and demographically-distinct audiences in each of these markets. Cumulus strives to create the next-generation radio broadcasting enterprise, based on great people and technological excellence that will provide high quality, local programming choices for Cumulus listeners, targeted audiences with disposable income and buying preferences for its advertisers, challenging career environments for its employees and value opportunities for its shareholders. For more information, visit cumulus.com.

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