CUMULUS MEDIA, INC./LEWIS W. DICKEY, JR.
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 12)*
CUMULUS MEDIA INC.
(Name of Issuer)
Class A Common Stock, $.01 par value
(Title of Class of Securities)
231082108
(CUSIP Number)
Lewis W. Dickey, Jr.
c/o Cumulus Media Inc.
3280 Peachtree Road, N.W., Suite 2300
Atlanta, Georgia 30305
(404) 949-0700
with a copy to:
Mark L. Hanson, Esq.
Jones Day
1420 Peachtree St., N.E., Suite 800
Atlanta, Georgia 30309
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
July 22, 2008
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
(Continued on following pages)
 
 

 

 

                       
CUSIP No.
  
  231082108 
   Page  
2 
   of   
17 
  Pages

 

           
1   NAME OF REPORTING PERSONS
Lewis W. Dickey, Jr.

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  7   SOLE VOTING POWER
     
NUMBER OF   4,855,923
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   10,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   4,855,923
       
WITH 10   SHARED DISPOSITIVE POWER
     
    10,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  4,865,923
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  12.2%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

2

 

                       
CUSIP No.
  
  231082108 
   Page  
3 
   of   
17 
  Pages

 

           
1   NAME OF REPORTING PERSONS
Lewis W. Dickey, Sr.

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  7   SOLE VOTING POWER
     
NUMBER OF   4,856,626
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   4,856,626
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  4,856,626
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  13.0%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

3

 

                       
CUSIP No.
  
  231082108 
   Page  
4 
   of   
17 
  Pages

 

           
1   NAME OF REPORTING PERSONS
DBBC, L.L.C.

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   10,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    10,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  10,000
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  Less than 1%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

4 

 

SCHEDULE 13D
Explanatory Note
     The reporting persons are filing this Amendment No. 12 to Schedule 13D (i) to update the information previously contained in Item 5 with respect to the holdings of certain of the reporting persons with respect to shares of the Class A Common Stock, par value $.01 per share, of the Company (the “Class A Common Stock”), and (ii) to reflect that, as a result of the previously reported termination on May 11, 2008 of that certain Agreement and Plan of Merger, dated July 23, 2007, by and among Cloud Acquisition Corporation, a Delaware corporation (“Parent”), Cloud Merger Corporation, a Delaware corporation (“Merger Sub”), and Cumulus Media Inc., a Delaware corporation (the “Company”), as of such termination John W. Dickey, Michael W. Dickey and David W. Dickey, each listed as reporting persons on this Schedule 13D as heretofore amended, are no longer reporting persons for purposes herein (Messrs. J. Dickey, M. Dickey and D. Dickey were listed as reporting persons previously solely in connection with the aforementioned merger).
Item 1. Security and Issuer
     This statement relates to the Class A Common Stock of the Company. The principal executive offices of the Company are located at 3280 Peachtree Road, N.W., Suite 2300, Atlanta, Georgia 30305.
Item 2. Identity and Background
     Item 2 is hereby amended and restated in its entirety to read as follows:
     (a)–(c) This statement is being filed jointly by (1) Lewis W. Dickey, Jr., (2) Lewis W. Dickey, Sr., and (3) DBBC, collectively referred to as the reporting persons. The reporting persons have entered into a Joint Filing Agreement, dated as of July 23, 2007, a copy of which is included as Exhibit 99.1 to this Schedule 13D. Neither this statement nor anything contained herein shall be construed as an admission that (a) any reporting person constitutes a “person” for any purposes other than Section 13(d) of the Act or (b) any combination of reporting persons constitutes a “group” for any purpose.
     The principal business address of Lew Dickey, Jr. is c/o Cumulus Media Inc., 3280 Peachtree Road, N.W., Suite 2300, Atlanta, Georgia 30305. The principal business address of Lew Dickey, Sr. is 11304 Old Harbor Road, North Palm Beach, Florida 33408. The principal business address of DBBC is 14 Piedmont Center, Suite 1400, Atlanta, Georgia 30305.
     The principal occupations of Lew Dickey, Jr. is Chairman, President and Chief Executive Officer of the Company. Lew Dickey, Sr. is a private investor.
     DBBC is a Georgia limited liability company and its principal business is to hold the shares of Class A Common Stock that it currently owns. Lew Dickey Jr. and his brothers, John Dickey, Michael Dickey and David Dickey, together constitute all of the members of DBBC. Lew Dickey, Jr. is the sole manager and president of DBBC and John Dickey, Michael Dickey and David Dickey are each vice presidents of DBBC.

5

 

     (d) During the last five years, none of the reporting persons (or, in the case of DBBC, none of its members or officers) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
     (e) During the last five years, none of the reporting persons (or, in the case of DBBC, none of its members or officers) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result thereof such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.
     (f) The reporting persons who are natural persons (including the members and officers of DBBC) are each citizens of the United States of America.
Item 3. Source and Amount of Funds or other Consideration
     Item 3 is hereby amended and restated in its entirety to read as follows:
     From May 13, 2008 through July 22, 2008, the Lewis W. Dickey, Sr. Revocable Trust (the “Trust”), of which Lew Dickey, Sr. is trustee, purchased an aggregate of 3,972,626 shares of Class A Common Stock for an aggregate purchase price of $18,298,221. Trust funds held by the Trust were the sole source of funds used to acquire the aforementioned shares of Class A Common Stock.
Item 4. Purpose of Transaction.
     Item 4 is hereby amended and restated in its entirety to read as follows:
     The reporting persons intend to review continuously the Company’s business affairs, general industry and economic conditions and their individual capital needs. Based on such review, the reporting persons may, from time to time, individually or collectively, and with or without additional persons, determine to increase their respective ownership of Class A Common Stock, to sell all or any portion of their respective holdings in the Company, or to initiate, participate in, or vote in favor of, an extraordinary corporate transaction or change in control of the Company.
     Except as otherwise described herein, none of the reporting person has plans or proposals that relate to or would result in any matter required to be disclosed in response to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
     Item 5 is hereby amended and restated in its entirety to read as follows:
     (a) For purposes of calculating the percentages set forth in this Item 5, (i) the number of shares of Class A Common Stock outstanding is assumed to be 37,502,718 and the number of shares of the Company’s Class C Common Stock, par value $.01 per share (the “Class C Common Stock”) is assumed to be 644,871 (which represents the shares of Class A Common

6

 

Stock and Class C Common Stock outstanding as of April 30, 2008, as represented on the front cover to the Company’s quarterly report on Form 10-Q for the period ended March 31, 2008).
     Lewis W. Dickey, Jr.
     Lew Dickey, Jr. is deemed to beneficially own 4,865,923 shares of Class A Common Stock as follows:
  •   2,331,052 shares of Class A Common Stock directly owned;
 
  •   options to purchase 1,380,000 shares of Class A Common Stock, which are exercisable within 60 days;
 
  •   644,871 shares of Class C Common Stock, which are convertible into shares of Class A Common Stock on a one-for-one basis, directly owned;
 
  •   options to purchase 500,000 shares of Class C Common Stock, which are exercisable within 60 days; and
 
  •   10,000 shares of Class A Common Stock owned by DBBC and deemed to be beneficially owned by Lew Dickey, Jr. in his capacity as manager of DBBC.
     Assuming exercise of all of the foregoing options and the conversion of all of the shares of Class C Common Stock (including those shares of Class C Common Stock issuable upon exercise of options) into Class A Common Stock, Lew Dickey, Jr. would be deemed to beneficially own 4,865,923 shares, or 12.2% of the outstanding shares of Class A Common Stock.
     Lewis W. Dickey, Sr.
     Lew Dickey Sr. is deemed to beneficially own 4,856,626 shares, or 13.0%, of the outstanding shares of Class A Common Stock, as follows:
  •   884,000 shares of Class A Common Stock directly owned; and
 
  •   3,972,626 shares of Class A Common Stock directly owned by the Trust, of which he is trustee.
     DBBC, L.L.C.
     DBBC is deemed to beneficially own 10,000 shares of Class A Common Stock, representing less than 1% of the outstanding shares of Class A Common Stock. As sole manager of DBBC, Lew Dickey, Jr. has voting and dispositive power with respect to the shares of Class A Common Stock beneficially owned by DBBC.
     As a result of the reporting persons’ intent described in Item 4, the reporting persons may collectively be deemed to constitute a “group,” within the meaning of Section 13(d)(3) of the Act. As a consequence, each reporting person may be deemed to beneficially own all shares of

7

 

Class A Common Stock beneficially owned by each other reporting person. Assuming exercise of all of the above-described options and the conversion of all of the shares of Class C Common Stock (including those shares of Class C Common Stock issuable upon exercise of options) into Class A Common Stock, the reporting persons would collectively beneficially own, in the aggregate, 24.3% of the issued and outstanding Class A Common Stock. Other than as set forth in this Item 5, each reporting person hereby disclaims beneficial ownership of Class A Common Stock owned by any other reporting person.
     Other than as set forth above with respect to Lew Dickey, Jr., none of the shares of Class A Common Stock reported in this Item 5 are shares as to which any reporting person has a right to acquire that is exercisable within 60 days. None of the reporting persons beneficially owns any shares of Class A Common Stock other than as set forth herein.
     (b) Each reporting person has sole power to vote or direct the vote and to dispose or to direct the disposition of only those shares of Class A Common Stock beneficially owned by such reporting person as indicated in paragraph (a) of this Item 5, except that, as president and sole manager of DBBC, Lew Dickey, Jr. also is deemed to have shared voting and dispositive power with respect to all shares of Class A Common Stock beneficially owned by DBBC.
     (c) Except as described below, none of the reporting persons has had any transactions in the Class A Common Stock during the past 60 days. Lew Dickey, Sr. engaged in various open market transactions in the past 60 days, the following details of which are summarized below: (1) the type of transaction effected, (2) the execution date of the transaction, (3) the price per share at which the transactions were effected, and (4) the total amount of shares that were the subject of each such transaction.
                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     5/23/2008     $ 4.9700       10,000  
Buy
     5/27/2008     $ 5.0000       2,103,000  
Buy
     6/2/2008     $ 5.0400       4,191  
Buy
     6/2/2008     $ 5.0500       6,081  
Buy
     6/2/2008     $ 5.0600       1,296  
Buy
     6/3/2008     $ 5.0300       200  
Buy
     6/3/2008     $ 5.0400       250  
Buy
     6/3/2008     $ 5.0500       7,563  
Buy
     6/3/2008     $ 5.0550       150  
Buy
     6/3/2008     $ 5.0600       10,990  
Buy
     6/4/2008     $ 5.0100       50  
Buy
     6/4/2008     $ 5.0300       1,300  

8

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     6/4/2008     $ 5.0400       1,454  
Buy
     6/4/2008     $ 5.0450       100  
Buy
     6/4/2008     $ 5.0500       25,989  
Buy
     6/4/2008     $ 5.0550       150  
Buy
     6/4/2008     $ 5.0600       26,600  
Buy
     6/5/2008     $ 5.0400       204  
Buy
     6/5/2008     $ 5.0450       100  
Buy
     6/5/2008     $ 5.0500       1,400  
Buy
     6/20/2008     $ 3.9600       1,703  
Buy
     6/20/2008     $ 3.9700       1,300  
Buy
     6/20/2008     $ 3.9800       750  
Buy
     6/20/2008     $ 3.9900       1,800  
Buy
     6/20/2008     $ 4.0000       10,300  
Buy
     6/20/2008     $ 4.0100       6,702  
Buy
     6/20/2008     $ 4.0150       200  
Buy
     6/20/2008     $ 4.0200       1,200  
Buy
     6/20/2008     $ 4.0300       700  
Buy
     6/20/2008     $ 4.0400       900  
Buy
     6/20/2008     $ 4.0500       1,100  
Buy
     6/20/2008     $ 4.0650       50  
Buy
     6/20/2008     $ 4.0700       745  
Buy
     6/20/2008     $ 4.1000       350  
Buy
     6/20/2008     $ 4.1050       150  
Buy
     6/20/2008     $ 4.1100       400  
Buy
     6/20/2008     $ 4.1200       450  
Buy
     6/20/2008     $ 4.1900       150  
Buy
     6/20/2008     $ 4.2000       1,050  
Buy
     6/23/2008     $ 3.9850       150  
Buy
     6/23/2008     $ 3.9900       5,908  
Buy
     6/24/2008     $ 3.9000       1,500  
Buy
     6/24/2008     $ 3.9100       1,000  
Buy
     6/24/2008     $ 3.9200       1,000  
Buy
     6/24/2008     $ 3.9400       1,800  
Buy
     6/24/2008     $ 3.9450       150  
Buy
     6/24/2008     $ 3.9500       1,950  
Buy
     6/24/2008     $ 3.9600       350  
Buy
     6/24/2008     $ 3.9700       12,363  
Buy
     6/24/2008     $ 3.9750       187  
Buy
     6/24/2008     $ 3.9800       8,250  
Buy
     6/24/2008     $ 3.9850       150  
Buy
     6/24/2008     $ 3.9900       18,250  
Buy
     6/25/2008     $ 3.9200       550  
Buy
     6/25/2008     $ 3.9700       300  
Buy
     6/25/2008     $ 3.9800       50  
Buy
     6/25/2008     $ 3.9900       4,250  
Buy
     6/27/2008     $ 3.9200       1,400  
Buy
     6/27/2008     $ 3.9250       50  
Buy
     6/27/2008     $ 3.9300       4,250  
Buy
     6/27/2008     $ 3.9400       6,250  
Buy
     6/27/2008     $ 3.9500       2,250  

9

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     6/27/2008     $ 3.9600       1,100  
Buy
     6/27/2008     $ 3.9700       2,250  
Buy
     6/27/2008     $ 3.9800       6,400  
Buy
     6/27/2008     $ 3.9850       50  
Buy
     6/27/2008     $ 3.9900       450  
Buy
     6/30/2008     $ 3.9400       897  
Buy
     6/30/2008     $ 3.9500       1,150  
Buy
     6/30/2008     $ 3.9600       750  
Buy
     6/30/2008     $ 3.9700       3,695  
Buy
     6/30/2008     $ 3.9750       250  
Buy
     6/30/2008     $ 3.9800       11,276  
Buy
     6/30/2008     $ 3.9850       250  
Buy
     6/30/2008     $ 3.9900       16,032  
Buy
     7/1/2008     $ 3.8800       300  
Buy
     7/1/2008     $ 3.8900       3,550  
Buy
     7/1/2008     $ 3.8950       300  
Buy
     7/1/2008     $ 3.8975       150  
Buy
     7/1/2008     $ 3.9000       3,850  
Buy
     7/1/2008     $ 3.9050       50  
Buy
     7/1/2008     $ 3.9100       3,100  
Buy
     7/1/2008     $ 3.9200       2,150  
Buy
     7/1/2008     $ 3.9300       10,896  
Buy
     7/1/2008     $ 3.9350       100  
Buy
     7/1/2008     $ 3.9400       1,700  
Buy
     7/1/2008     $ 3.9500       1,452  
Buy
     7/1/2008     $ 3.9600       1,902  
Buy
     7/1/2008     $ 3.9650       1,450  
Buy
     7/1/2008     $ 3.9700       1,550  
Buy
     7/1/2008     $ 3.9750       350  
Buy
     7/1/2008     $ 3.9800       1,450  
Buy
     7/2/2008     $ 3.3500       300  
Buy
     7/2/2008     $ 3.3600       150  
Buy
     7/2/2008     $ 3.3700       350  
Buy
     7/2/2008     $ 3.3900       450  
Buy
     7/2/2008     $ 3.3950       300  
Buy
     7/2/2008     $ 3.4200       450  
Buy
     7/2/2008     $ 3.4400       600  
Buy
     7/2/2008     $ 3.4450       150  
Buy
     7/2/2008     $ 3.4500       350  
Buy
     7/2/2008     $ 3.4600       550  
Buy
     7/2/2008     $ 3.4700       400  
Buy
     7/2/2008     $ 3.4800       850  
Buy
     7/2/2008     $ 3.5100       400  
Buy
     7/2/2008     $ 3.5200       200  
Buy
     7/2/2008     $ 3.5300       700  
Buy
     7/2/2008     $ 3.5500       350  
Buy
     7/2/2008     $ 3.5600       150  
Buy
     7/2/2008     $ 3.5900       150  
Buy
     7/2/2008     $ 3.6300       1,350  
Buy
     7/2/2008     $ 3.6500       150  

10

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     7/2/2008     $ 3.6600       195  
Buy
     7/2/2008     $ 3.6700       750  
Buy
     7/2/2008     $ 3.6800       400  
Buy
     7/2/2008     $ 3.6900       600  
Buy
     7/2/2008     $ 3.7000       950  
Buy
     7/2/2008     $ 3.7100       400  
Buy
     7/2/2008     $ 3.7200       650  
Buy
     7/2/2008     $ 3.7300       150  
Buy
     7/2/2008     $ 3.7500       971  
Buy
     7/2/2008     $ 3.8000       1,800  
Buy
     7/2/2008     $ 3.8100       877  
Buy
     7/2/2008     $ 3.8200       350  
Buy
     7/2/2008     $ 3.8300       2,313  
Buy
     7/2/2008     $ 3.8400       1,050  
Buy
     7/2/2008     $ 3.8500       1,650  
Buy
     7/2/2008     $ 3.8600       2,800  
Buy
     7/2/2008     $ 3.8700       953  
Buy
     7/2/2008     $ 3.8800       4,900  
Buy
     7/2/2008     $ 3.8900       2,191  
Buy
     7/2/2008     $ 3.9000       1,000  
Buy
     7/2/2008     $ 3.9100       1,000  
Buy
     7/3/2008     $ 3.2900       1,971  
Buy
     7/3/2008     $ 3.2950       150  
Buy
     7/3/2008     $ 3.3000       8,150  
Buy
     7/3/2008     $ 3.3050       350  
Buy
     7/3/2008     $ 3.3100       9,210  
Buy
     7/3/2008     $ 3.3200       1,478  
Buy
     7/3/2008     $ 3.3400       550  
Buy
     7/3/2008     $ 3.3500       1,952  
Buy
     7/3/2008     $ 3.3600       1,050  
Buy
     7/3/2008     $ 3.3700       600  
Buy
     7/3/2008     $ 3.3800       2,350  
Buy
     7/3/2008     $ 3.3900       100  
Buy
     7/3/2008     $ 3.4000       3,234  
Buy
     7/3/2008     $ 3.4050       50  
Buy
     7/3/2008     $ 3.4100       3,050  
Buy
     7/3/2008     $ 3.4200       55  
Buy
     7/7/2008     $ 3.0800       350  
Buy
     7/7/2008     $ 3.1000       1,100  
Buy
     7/7/2008     $ 3.1050       50  
Buy
     7/7/2008     $ 3.1100       1,575  
Buy
     7/7/2008     $ 3.1150       50  
Buy
     7/7/2008     $ 3.1200       2,850  
Buy
     7/7/2008     $ 3.1300       2,750  
Buy
     7/7/2008     $ 3.1400       540  
Buy
     7/7/2008     $ 3.1450       100  
Buy
     7/7/2008     $ 3.1500       2,050  
Buy
     7/7/2008     $ 3.1600       550  
Buy
     7/7/2008     $ 3.1900       4,587  
Buy
     7/7/2008     $ 3.1950       100  

11

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     7/7/2008     $ 3.2000       1,150  
Buy
     7/7/2008     $ 3.2200       300  
Buy
     7/7/2008     $ 3.2800       300  
Buy
     7/7/2008     $ 3.3000       250  
Buy
     7/7/2008     $ 3.3300       300  
Buy
     7/7/2008     $ 3.3400       3722  
Buy
     7/7/2008     $ 3.3500       3,200  
Buy
     7/7/2008     $ 3.3700       4,277  
Buy
     7/7/2008     $ 3.3800       6,150  
Buy
     7/8/2008     $ 3.1700       165  
Buy
     7/8/2008     $ 3.1800       2,350  
Buy
     7/8/2008     $ 3.1900       4,350  
Buy
     7/8/2008     $ 3.1950       37  
Buy
     7/8/2008     $ 3.2000       7,313  
Buy
     7/8/2008     $ 3.2100       700  
Buy
     7/8/2008     $ 3.2300       300  
Buy
     7/8/2008     $ 3.2400       4,536  
Buy
     7/8/2008     $ 3.2450       100  
Buy
     7/8/2008     $ 3.2500       1,269  
Buy
     7/8/2008     $ 3.2600       1,141  
Buy
     7/8/2008     $ 3.2800       100  
Buy
     7/8/2008     $ 3.3050       100  
Buy
     7/8/2008     $ 3.3100       1,475  
Buy
     7/8/2008     $ 3.3200       1,950  
Buy
     7/8/2008     $ 3.3250       100  
Buy
     7/8/2008     $ 3.3300       600  
Buy
     7/8/2008     $ 3.3900       50  
Buy
     7/8/2008     $ 3.4000       5,050  
Buy
     7/8/2008     $ 3.4100       1,036  
Buy
     7/8/2008     $ 3.4400       78  
Buy
     7/8/2008     $ 3.4500       3,500  
Buy
     7/9/2008     $ 3.3600       150  
Buy
     7/9/2008     $ 3.3700       150  
Buy
     7/9/2008     $ 3.3800       1,997  
Buy
     7/9/2008     $ 3.3900       13,621  
Buy
     7/9/2008     $ 3.3950       575  
Buy
     7/9/2008     $ 3.4000       11,925  
Buy
     7/9/2008     $ 3.4050       50  
Buy
     7/9/2008     $ 3.4100       3,300  
Buy
     7/9/2008     $ 3.4200       2,500  
Buy
     7/9/2008     $ 3.4300       895  
Buy
     7/9/2008     $ 3.4400       1,137  
Buy
     7/10/2008     $ 2.7900       200  
Buy
     7/10/2008     $ 2.8000       1  
Buy
     7/10/2008     $ 2.8100       1,050  
Buy
     7/10/2008     $ 2.8200       50  
Buy
     7/10/2008     $ 2.8300       1,400  
Buy
     7/10/2008     $ 2.8400       1,250  
Buy
     7/10/2008     $ 2.8450       50  
Buy
     7/10/2008     $ 2.8500       2,669  

12

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     7/10/2008     $ 2.8550       50  
Buy
     7/10/2008     $ 2.8600       600  
Buy
     7/10/2008     $ 2.8650       100  
Buy
     7/10/2008     $ 2.8700       1,900  
Buy
     7/10/2008     $ 2.8800       273  
Buy
     7/10/2008     $ 2.8900       1,734  
Buy
     7/10/2008     $ 2.9100       1,450  
Buy
     7/10/2008     $ 2.9300       250  
Buy
     7/10/2008     $ 2.9400       450  
Buy
     7/10/2008     $ 2.9500       750  
Buy
     7/10/2008     $ 2.9600       200  
Buy
     7/10/2008     $ 2.9700       700  
Buy
     7/10/2008     $ 2.9900       1,000  
Buy
     7/10/2008     $ 3.0000       459  
Buy
     7/10/2008     $ 3.0100       950  
Buy
     7/10/2008     $ 3.0200       200  
Buy
     7/10/2008     $ 3.0400       250  
Buy
     7/10/2008     $ 3.0500       1,750  
Buy
     7/10/2008     $ 3.0600       1,250  
Buy
     7/10/2008     $ 3.0700       2,400  
Buy
     7/10/2008     $ 3.0800       300  
Buy
     7/10/2008     $ 3.1400       750  
Buy
     7/10/2008     $ 3.1700       100  
Buy
     7/10/2008     $ 3.2300       1,200  
Buy
     7/10/2008     $ 3.2600       350  
Buy
     7/10/2008     $ 3.2700       400  
Buy
     7/10/2008     $ 3.2900       2,450  
Buy
     7/10/2008     $ 3.3000       4,488  
Buy
     7/10/2008     $ 3.3100       725  
Buy
     7/10/2008     $ 3.3300       2,150  
Buy
     7/11/2008     $ 2.6700       50  
Buy
     7/11/2008     $ 2.6800       875  
Buy
     7/11/2008     $ 2.6900       2,796  
Buy
     7/11/2008     $ 2.7000       7,259  
Buy
     7/11/2008     $ 2.7100       5,600  
Buy
     7/11/2008     $ 2.7200       2,175  
Buy
     7/11/2008     $ 2.7300       7,103  
Buy
     7/11/2008     $ 2.7400       1,817  
Buy
     7/11/2008     $ 2.7500       100  
Buy
     7/11/2008     $ 2.7600       600  
Buy
     7/11/2008     $ 2.7700       1,100  
Buy
     7/11/2008     $ 2.7800       775  
Buy
     7/11/2008     $ 2.7900       1,350  
Buy
     7/11/2008     $ 2.8000       500  
Buy
     7/11/2008     $ 2.8100       200  
Buy
     7/11/2008     $ 2.8200       1,700  
Buy
     7/11/2008     $ 2.8300       700  
Buy
     7/11/2008     $ 2.8400       1,600  
Buy
     7/14/2008     $ 2.5900       772  
Buy
     7/14/2008     $ 2.6000       600  

13

 

                         
Buy/Sell   Executed Date   Price   Quantity
Buy
     7/14/2008     $ 2.6100       508  
Buy
     7/14/2008     $ 2.6200       1,150  
Buy
     7/14/2008     $ 2.6300       500  
Buy
     7/14/2008     $ 2.6400       525  
Buy
     7/14/2008     $ 2.6500       1,800  
Buy
     7/14/2008     $ 2.6600       2,817  
Buy
     7/14/2008     $ 2.6700       2,375  
Buy
     7/14/2008     $ 2.6800       2,302  
Buy
     7/14/2008     $ 2.6900       5,175  
Buy
     7/14/2008     $ 2.7000       1,000  
Buy
     7/14/2008     $ 2.7100       750  
Buy
     7/14/2008     $ 2.7200       350  
Buy
     7/14/2008     $ 2.7300       1,000  
Buy
     7/14/2008     $ 2.7500       150  
Buy
     7/14/2008     $ 2.7600       1,750  
Buy
     7/14/2008     $ 2.7700       1,150  
Buy
     7/14/2008     $ 2.7800       12,976  
Buy
     7/14/2008     $ 2.7900       100  
Buy
     7/14/2008     $ 2.8200       700  
Buy
     7/14/2008     $ 2.8800       1,100  
Buy
     7/14/2008     $ 2.8900       1,500  
Buy
     7/15/2008     $ 2.2900       250  
Buy
     7/15/2008     $ 2.3000       950  
Buy
     7/15/2008     $ 2.3100       1,550  
Buy
     7/15/2008     $ 2.3300       3,230  
Buy
     7/15/2008     $ 2.3400       3,900  
Buy
     7/15/2008     $ 2.3500       4,200  
Buy
     7/15/2008     $ 2.3600       2,050  
Buy
     7/15/2008     $ 2.3700       350  
Buy
     7/15/2008     $ 2.3800       1,200  
Buy
     7/15/2008     $ 2.3900       1,750  
Buy
     7/15/2008     $ 2.4000       1,750  
Buy
     7/15/2008     $ 2.4100       1,000  
Buy
     7/15/2008     $ 2.4200       550  
Buy
     7/15/2008     $ 2.4300       4,300  
Buy
     7/15/2008     $ 2.4400       2,438  
Buy
     7/15/2008     $ 2.4500       3,290  
Buy
     7/15/2008     $ 2.4600       1,725  
Buy
     7/15/2008     $ 2.4700       1,817  
Buy
     7/15/2008     $ 2.4800       1,250  
Buy
     7/15/2008     $ 2.4900       1,550  
Buy
     7/15/2008     $ 2.5000       300  
Buy
     7/15/2008     $ 2.5300       450  
Buy
     7/15/2008     $ 2.5700       700  
Buy
     7/15/2008     $ 2.5800       100  
Buy
     7/15/2008     $ 2.5900       400  
Buy
     7/16/2008     $ 2.1800       1,100  
Buy
     7/16/2008     $ 2.2000       1,000  
Buy
     7/16/2008     $ 2.2200       4,375  
Buy
     7/16/2008     $ 2.2300       1,350  
Buy
     7/16/2008     $ 2.2400       1,350  
Buy
     7/16/2008     $ 2.2500       1,800  
Buy
     7/16/2008     $ 2.2600       2,100  
Buy
     7/16/2008     $ 2.2700       5,125  
Buy
     7/16/2008     $ 2.2800       300  
Buy
     7/16/2008     $ 2.2900       14,479  
Buy
     7/16/2008     $ 2.3000       4,671  
Buy
     7/16/2008     $ 2.3100       3,400  
Buy
     7/17/2008     $ 2.0900       450  
Buy
     7/17/2008     $ 2.1100       400  
Buy
     7/17/2008     $ 2.1300       1,250  
Buy
     7/17/2008     $ 2.1350       150  
Buy
     7/17/2008     $ 2.1400       1,350  
Buy
     7/17/2008     $ 2.1500       3,100  
Buy
     7/17/2008     $ 2.1600       3,943  
Buy
     7/17/2008     $ 2.1650       220  
Buy
     7/17/2008     $ 2.1700       3,830  
Buy
     7/17/2008     $ 2.1750       50  
Buy
     7/17/2008     $ 2.1800       1,950  
Buy
     7/17/2008     $ 2.1900       1,050  
Buy
     7/17/2008     $ 2.1950       100  
Buy
     7/17/2008     $ 2.2000       6,000  
Buy
     7/17/2008     $ 2.2100       2,800  
Buy
     7/17/2008     $ 2.2200       3,551  
Buy
     7/17/2008     $ 2.2300       850  
Buy
     7/17/2008     $ 2.2700       3,079  
Buy
     7/17/2008     $ 2.2800       2,050  
Buy
     7/17/2008     $ 2.2900       550  
Buy
     7/17/2008     $ 2.3400       1,200  
Buy
     7/17/2008     $ 2.3600       1,150  
Buy
     7/17/2008     $ 2.3800       75  
Buy
     7/17/2008     $ 2.4200       152  
Buy
     7/17/2008     $ 2.4300       1,750  
Buy
     7/18/2008     $ 1.9800       220  
Buy
     7/18/2008     $ 1.9900       596  
Buy
     7/18/2008     $ 1.9950       50  
Buy
     7/18/2008     $ 2.0000       3,300  
Buy
     7/18/2008     $ 2.0050       150  
Buy
     7/18/2008     $ 2.0100       1,450  
Buy
     7/18/2008     $ 2.0200       2,336  
Buy
     7/18/2008     $ 2.0250       100  
Buy
     7/18/2008     $ 2.0300       6,471  
Buy
     7/18/2008     $ 2.0400       550  
Buy
     7/18/2008     $ 2.0500       923  
Buy
     7/18/2008     $ 2.0600       3,478  
Buy
     7/18/2008     $ 2.0700       900  
Buy
     7/18/2008     $ 2.0800       2,650  
Buy
     7/18/2008     $ 2.0900       2,300  
Buy
     7/18/2008     $ 2.1000       5,750  
Buy
     7/18/2008     $ 2.1100       3,350  
Buy
     7/18/2008     $ 2.1200       2,750  
Buy
     7/18/2008     $ 2.1300       650  
Buy
     7/18/2008     $ 2.1400       550  
Buy
     7/18/2008     $ 2.1700       500  
Buy
     7/18/2008     $ 2.1800       600  
Buy
     7/18/2008     $ 2.2100       227  
Buy
     7/18/2008     $ 2.2200       1,199  
Buy
     7/21/2008     $ 1.9600       1,300  
Buy
     7/21/2008     $ 1.9900       500  
Buy
     7/21/2008     $ 2.0000       1,500  
Buy
     7/21/2008     $ 2.0100       703  
Buy
     7/21/2008     $ 2.0200       50  
Buy
     7/21/2008     $ 2.0600       300  
Buy
     7/21/2008     $ 2.0800       100  
Buy
     7/21/2008     $ 2.0900       500  
Buy
     7/21/2008     $ 2.1000       500  
Buy
     7/21/2008     $ 2.1200       150  
Buy
     7/21/2008     $ 2.1400       1600  
Buy
     7/21/2008     $ 2.1500       17,900  
Buy
     7/21/2008     $ 2.1600       4,250  
Buy
     7/21/2008     $ 2.1700       2,650  
Buy
     7/21/2008     $ 2.1800       1,350  
Buy
     7/21/2008     $ 2.1900       5,597  
Buy
     7/21/2008     $ 2.2000       5,000  
Buy
     7/21/2008     $ 2.2200       4,800  
Buy
     7/21/2008     $ 2.2300       1,250  
Buy
     7/22/2008     $ 2.1800       1,750  
Buy
     7/22/2008     $ 2.1900       1,450  
Buy
     7/22/2008     $ 2.2000       2,800  
Buy
     7/22/2008     $ 2.2100       30  
Buy
     7/22/2008     $ 2.2200       550  
Buy
     7/22/2008     $ 2.2400       800  
Buy
     7/22/2008     $ 2.2500       1,300  
Buy
     7/22/2008     $ 2.2600       1,024  
Buy
     7/22/2008     $ 2.2700       2,150  
Buy
     7/22/2008     $ 2.2800       500  
Buy
     7/22/2008     $ 2.2900       2,200  
Buy
     7/22/2008     $ 2.3000       950  
Buy
     7/22/2008     $ 2.3100       3,800  
Buy
     7/22/2008     $ 2.3200       3,100  
Buy
     7/22/2008     $ 2.3250       100  
Buy
     7/22/2008     $ 2.3300       18,581  
Buy
     7/22/2008     $ 2.3900       386  
Buy
     7/22/2008     $ 2.4000       1,100  
Buy
     7/22/2008     $ 2.4200       369  
Buy
     7/22/2008     $ 2.4300       550  
Buy
     7/22/2008     $ 2.4400       1,366  
Buy
     7/22/2008     $ 2.4500       944  
Buy
     7/22/2008     $ 2.4600       600  
Buy
     7/22/2008     $ 2.4700       3,600  

14

 

     (d) Except as set forth herein, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the shares of the Class A Common Stock that are the subject of this report.

15

 

Item 6.   Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
     Item 6 is hereby amended and restated in its entirety to read as follows:
     Lew Dickey, Jr. is party to a Voting Agreement, dated June 30, 1998, which is described in the statement on Schedule 13D, filed August 29, 2002.
     As of the date hereof, certain shares of Class A Common Stock owned by Lew Dickey, Jr. have been pledged as collateral to UBS Securities, or an affiliate thereof, to secure certain loans made to him. Under the customary terms of the pledge arrangements, in certain circumstances upon an event of default, the lenders may be entitled to direct the disposition of the pledged shares.
     Except as described in this Item 6, none of the reporting persons is a party to any contract, arrangement, understanding or relationship with respect to any securities of the Company, including but not limited to transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or a pledge or contingency the occurrence of which would give another person voting power over the securities of the Company.
Item 7. Material to be Filed as Exhibits
     Item 7 is hereby amended and restated in its entirety to read as follows:
     
Ex.   Name
 
    
99.1
  Joint Filing Agreement (incorporated by reference to Exhibit 99.1 of the reporting persons’ Amendment No. 4 to Schedule 13D, filed on July 20, 2007).
 
    
99.2
  Power of Attorney, dated July 23, 2007, by, among others, Lewis W. Dickey, Jr., Lewis W. Dickey, Sr. and DBBC (incorporated by reference to Exhibit 99.1 of the reporting persons’ Amendment No. 4 to Schedule 13D, filed on July 20, 2007).
 
    
99.3
  Voting Agreement, dated June 30, 1998, by and between BA Capital Company, L.P., as successor in interest to NationsBanc Capital Corp., Cumulus Media Inc. and the shareholders named therein (incorporated by reference to Exhibit 4.2 of the Company’s Form 10-Q for the period ended September 30, 2001).
 
    
99.4
  Termination Agreement and Release, dated May 11, 2008, by and among Cloud Acquisition Corporation, Cloud Merger Corporation, Cumulus Media Inc and ML IBK Positions, Inc. (incorporated by reference to Exhibit 10.1 of the Company’s current report on Form 8-K filed on May 12, 2008).
 
    
99.5
  Termination Agreement and Release, dated May 11, 2008, by and among Cloud Holding Company, LLC, Cloud Acquisition Corporation, MLGPE Fund US Alternative, L.P., Lewis W. Dickey, Jr., John W. Dickey, David W. Dickey, Michael W. Dickey and Lewis W. Dickey, Sr. (incorporated by reference to Exhibit 99.19 of the reporting persons’ Amendment No. 8 to Schedule 13D, filed on May 11, 2008).

16

 

SIGNATURE
     After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, such person certifies that the information set forth in this statement is true, complete and correct.
Dated: July 23, 2008
             
    /s/ Lewis W. Dickey, Jr.    
         
    Lewis W. Dickey, Jr.    
 
            
 
  *        
         
    Lewis W. Dickey, Sr.    
 
            
    DBBC, L.L.C.    
 
            
 
  By:
Name: 		  /s/ Lewis W. Dickey, Jr.
 
Lewis W. Dickey, Jr. 		   
 
  Title:   Manager    
   
         
*By:
  /s/ Lewis W. Dickey, Jr.    
   
 
    
 
Lewis W. Dickey, Jr. 		   
as Attorney-in-Fact    

17