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Cumulus Media founder and CEO Lew Dickey is reported to be leaving that post, effective October 13. The slot is slated to be filled by Mary Berner, President and CEO of magazine trade association MPA. Berner formerly served as CEO of Reader’s Digest Association and Fairchild Publications.
Dickey, who founded the radio giant in 1997, is said to be transitioning to a vice chairman role, and will remain on Cumulus’ board.
Cumulus Executive Vice President John Dickey – Lew’s brother – is also apparently leaving the company. Mike McVay, senior vice president of programming for Cumulus, is said to assume Dickey’s role.
The sibling exodus follows what the New York Post reported yesterday as “a board shake-up” that was allegedly initiated by Chairman Jeffrey Marcus, according to the Post.
Atlanta-based Cumulus Media is the second largest radio operator in the U.S., behind Clear Channel. The broadcast company currently operates 460 stations in 90 markets.
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