ATLANTA�Cumulus Media�s co-founder�has signed a new contract with the company, they announced in a press release.
President/CEO Lew Dickey will continue to run the daily operations Cumulus� broadcasting stations, networks and strategic investments through 2018.�
Dickey will remain on the board but drops the chairman title; board member Jeff Marcus, who�s a partner with Cumulus� largest stockholder, Crestview Partners, becomes non-executive board chairman.
The board nominated Mary Berner, president and CEO of the Association of Magazine Media, to stand for election on the board. That�s to fill the vacancy when Robert Sheridan of Ridgemont Equity Partners retires from the Cumulus board in May.