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Citadel Broadcasting Expands Relationship With Katz Radio Group

Posted on: Monday, 31 March 2008, 09:00 CDT

Citadel Broadcasting Corporation (NYSE:CDL) announced that it expanded its relationship with Katz Media Group, the nation's largest media representation firm, under which the Katz Radio Group will represent an additional 22 stations in nine markets owned by Citadel.

Katz Media Group will now represent all of the Citadel markets including Atlanta, Chicago, Dallas, Detroit, Los Angeles, Minneapolis, New York, San Francisco and Washington D.C. Three separate Katz Radio Group companies--Eastman Radio, Christal Radio and Katz Radio--will represent the various stations effective March 31. Katz Radio Group will now represent all the stations owned by Citadel Broadcasting, the country's third-largest radio station owner with 223 stations in more than 50 markets.

Farid Suleman, Chairman and Chief Executive Officer of Citadel, commented "We are pleased to expand our alliance with Katz, one of the leading media representation firms in the country. The Company expects to benefit from increased revenue opportunities including new group deals resulting from the relationship."

Stu Olds, Chief Executive Officer of Katz Media Group, said, "Citadel Broadcasting has been an extraordinary partner for us and we couldn't be more excited to have this opportunity to strengthen our long-term relationship. We have made great strides together and we fully expect to have an even-more productive partnership in the years ahead."

"Citadel owns a spectacular array of stations in many of the nation's top markets," said Mark Gray, President of Katz Radio Group. "We firmly believe that our talented sales force will be able to maximize the potential of Citadel's stations by providing the highest levels of customer service and developing innovative ways to increase revenue streams."

About Citadel Broadcasting Corporation

Citadel Broadcasting Corporation is the third largest radio group in the United States, with a national footprint reaching more than 50 markets. Citadel is comprised of 165 FM and 58 AM stations in the nation's leading markets, in addition to the ABC Radio Network business, which is one of the three largest radio networks in the United States. For more information visit www.citadelbroadcasting.com

About Katz Media Group

Katz Media Group, based in New York City, is the nation's only full-service media sales and marketing firm. A subsidiary of Clear Channel Communications, the company serves multiple media platforms and is the leading representative of radio and television stations. The Katz Radio Group is structured to most effectively represent the interests of its independent client stations through Eastman Radio, Christal Radio and Katz Radio. For more information, go to www.katz-media.com.

Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citadel Broadcasting Corporation's filings with the Securities and Exchange Commission.

Source: Business Wire

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