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Wall Street was only mildly supportive of more restructuring at Cumulus Media Inc. after it was announced last week that the Dickey brothers will take over day-to-day operations.

6/11/2000 08:00:00 PM Eastern

Wall Street was only mildly supportive of more restructuring at Cumulus Media Inc. after it was announced last week that the Dickey brothers will take over day-to-day operations. Former Executive Vice Chairman Lewis W. Dickey Jr. was named to the newly created post of president and chief executive officer. On March 16, Dickey had been named president of Cumulus Broadcasting Inc., another new post that apparently is no more. Dickey's brother John W., formerly director of programming for Cumulus Media and executive vice president of Cumulus Broadcasting, was named executive vice president of the parent. Co-founder Richard Weening continues as executive chairman of Cumulus Media. In a news release, Weening said Dickey is taking over as the company moves from its "acquisition-intensive start-up stage in which I played the lead" to an operational stage. However, Lew Dickey at one time told Broadcasting & Cable that he was responsible for engineering the company's deals.

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