Cumulus Media Welcomes Steven M. Galbraith to Its Board

Cumulus Media Strengthens Leadership with New Board Member

Cumulus Media Inc. (NASDAQ: CMLS) is excited to announce the addition of Steven M. Galbraith to its Board of Directors. This strategic appointment, made recently in Atlanta, signifies a pivotal move for the company, emphasizing its commitment to strong governance and shareholder engagement.

Introducing Steven M. Galbraith

Steve Galbraith, a long-time shareholder with considerable experience in investment management, brings a wealth of knowledge to the board. "We are thrilled to welcome Steve to our board," said Chairman Andrew W. Hobson. The board hopes to tap into Galbraith's financial insights and experiences to fuel future growth and identify new market opportunities.

A Background in Financial Services

Galbraith currently serves as a managing member of Kindred Capital Advisors LLC, holding significant shares in Cumulus Media through both personal and company-affiliated investments. His impressive resume includes previous roles as the managing member of Herring Creek Capital and as a partner at Maverick Capital. Galbraith's expertise doesn’t stop there; he was once the Chief Investment Officer at Morgan Stanley, where his strategic decisions significantly influenced the firm’s investment approaches.

Teaching Experience and Public Service

In addition to his financial prowess, Galbraith has dedicated time to academia as an Adjunct Professor at Columbia University Business School from 1998 to 2008, focusing on securities analysis. His commitment to public service is evidenced by his advisory role with the Office of Financial Research, established under Dodd-Frank, which aims to bolster the stability of the U.S. financial system.

Galbraith's Commitment to Non-Profit Endeavors

Beyond his corporate roles, Galbraith has shown a strong commitment to various non-profit organizations. He has served on the Board of Trustees for Tufts University and the National Constitution Center, contributing valuable insights and governance support. Currently, he is involved with the Success Academy Charter Schools and Third Way, further emphasizing his dedication to education and public service.

Engagement with Diverse Organizations

Galbraith's breadth of involvement extends to organizations like the Educational Equity Lab and the American Friends of Hebrew University Endowment. He also serves on the boards of private companies such as Narragansett Brewing Company and Equity Data Science, where he continues to promote business growth and innovation.

About Cumulus Media

Cumulus Media (NASDAQ: CMLS) stands at the forefront of audio media, providing premium content that reaches over a quarter billion people each month. With 400 radio stations spread across 84 markets, Cumulus Media engages listeners with top-notch local programming while also delivering nationally-syndicated content that includes iconic sports and entertainment brands. This extensive offering is bolstered by the Cumulus Podcast Network, showcasing a growing lineup of original and engaging podcasts.

The company excels in delivering advertisers the ability to connect with audiences on a personal level, ensuring local impact while maintaining a national reach through a diverse array of platforms. Through traditional broadcasts and innovative digital solutions, Cumulus Media remains a leader in the industry, helping brands achieve significant reach and resonance.

Contact Information

For more information, please reach out to:
Cumulus Media Inc.
Investor Relations Department
Email: IR@cumulus.com
Phone: 404-260-6600

Frequently Asked Questions

Who is Steven M. Galbraith?

Steven M. Galbraith is a significant shareholder and new board member of Cumulus Media Inc., with extensive experience in investment management.

What role did Galbraith have prior to joining Cumulus Media's board?

He served as the Chief Investment Officer at Morgan Stanley and was involved with several private investment firms.

What is Cumulus Media known for?

Cumulus Media is known for being an audio-first media company that delivers premium content across numerous platforms, including radio and podcasts.

What are some of the organizations Galbraith has been involved with?

He has served on the Board of Trustees for Tufts University and the National Constitution Center, and currently holds positions on various non-profit boards.

How can I contact Cumulus Media?

You can contact Cumulus Media's Investor Relations Department via their email at IR@cumulus.com or by phone at 404-260-6600.

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