Citadel Broadcasting Notified by NYSE of Non-Compliance with Continued Listing Standards

2008-09-12 23:34:02 -

- Citadel Broadcasting Corporation (NYSE:CDL) announced today that the Company received a notice that it has fallen below the continued listing criteria related to minimum share price for the New York Stock Exchange ("NYSE"). Subject to compliance with the NYSE's other continued listing standards, the Company's common stock will continue to be listed on the NYSE. The Company intends to

cure the deficiency and to return to compliance with the NYSE continued listing requirements.

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.

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.

Citadel Broadcasting Corporation
Patricia Stratford, 212-887-1670