Exhibit (c)(1)

Project ConnectDiscussion MaterialsMarch 16, 2009Strictly Private and Confidential

Unilateral ProcessApproachOffer price and conditions proposed directly to minority shareholders through a tender offerConditionsFollowing conditions need to be met for the offer to be deemed non-coercive Tender offer is made directly to the public shareholders Non-waivable condition that a majority of shares held by the minority shareholders are tendered Full and fair disclosure by the majority stockholder Parent commits to complete a short-form merger promptly following the offerRole of Special Committee of Board may make a recommendation as to whether minority Special Committee shareholders should participate or can express no opinion, but still plays key role Must have adequate time to react Must hire independent legal and financial advisors Must disclose adequate information to minority shareholders Must undertake tasks in good faith, diligently and in the best interests of minority shareholders

Tender Offer TimelineClose Tender OfferPotential OutcomesDeal PreparationCEI seeks Board (1) Reach 90% Commence Tender Extend Approval of a Launch Tender threshold and pay Offer Tender Offer if TransactionOfferfor all shares (20 Days)Necessary (7 – 10 Days)(short-form merger) Advisor / CEI Issue press Target Board forms due diligence releaseSpecial Committee review(2) Do not reach File 13-D / TO 10 days for Special documentsCommittee to provide 90% threshold, pay Documentation initial response for those shares Board materials Send letter to tendered (public Target Board(via 14D-9) (including stub remains financial outstanding) analysis)10 business20 business daysdaysMarch 16March 23April 6April 21(3) Abandon tender offer

Shareholder Overview!”# $%&’(‘)’(“%*+ ,-*./-"+0/.&,-*./& ?)’&’*%0(%7 *& “6 4@A@BC12*&/0 “% 345 6(+(%7&81(% D(++(“%&8CEIInvestmentSharesTotalSharesPercentRank InstitutionStyleOutstandingClass A20.83.617.3%1Buckhead Capital Management LLCValue3,258,252Class B58.758.7100.0 Total79.562.378.4%2Dimensional Fund Advisors, Inc.Alternative2,560,8393Barclays Global Investors NA (CA)Index1,299,143Total Minority Shareholders17.24TowerView LLCHedge Fund1,100,000Less: Restricted Stock(1.6)Total Shares Available for Tender15.65Vanguard Group, Inc.Index996,3396Westport Asset Management, Inc.Value904,4787OppenheimerFunds, Inc.Value618,719Target Share Sensitivity8T. Rowe Price Associates, Inc.Value609,450(Based on 12/31/08 holdings)9Royce & Associates LLCSpecialty604,30010Foyston, Gordon & Payne, Inc.International566,072 Need 8.6 million shares to reach majority of the minority–Results in 89% ownership of outstanding shares11Azimut SGR SpAInternational522,50012Northern Trust InvestmentsValue516,745 Need 9.3 million shares to reach 90% threshold13Goldman Sachs Asset Management LP Alternative505,861% Required To 14State Street Global AdvisorsValue469,034Number of Achieve Majority of 15Brandywine Global Investment MgmtValue403,050(Shares in Millions)SharesMinority16Russell Investment GroupIndex360,719Total Minority Shares17.250.1%17Renaissance Technologies LLCHedge Fund341,300Total Minority Shares Available for Tender15.655.118TIAA-CREF Asset Management LLCValue335,438All Holders Except Hedge Funds and Alternatives10.681.119AQR Capital Management LLCHedge Fund302,045All Index and Long Funds11.872.720Mellon Capital ManagementIndex300,744All Sellers in Q410.284.3Top 20 Institutions as of 12/31/200816,575,028All Net Sellers in Q4 and Q38.5101.7Total Excluding Top 3 Investors (Excluding Index Funds)8.798.83,”).9/: ;*9’&/’ *%0 <=$>

Historical Stock Trading / Volume Weighted Average Price AnalysisVolume Weighted Average Price Trends$8 $6.42Price$6$5.50Average$4.93Weighted $4Current price $3.12Volume $2 $06-month3-month1-monthVolume Traded By Price Range75,00041.1%60,00040.6%(000) 45,000 52.3%Volume30,00052.4%23.6%11.7%15,00013.6% 23.3%10.5%5.2%24.3%1.4%0 $3.00–$6.00$6.00–$9.00$9.00–$12.00$12.00–$15.00$15.00–$18.004Note: Stock price as of 3/13/2009.6 months 1 year 2 years

Radio Trading Metrics SummaryPrice Per Share$14.00$14.00 $13.05$12.00 $12.00$10.00 $10.00$8.00 $8.00 $6.00 $5.00 $4.21$6.00 $4.00 $3.22Current: $3.43$3.12 $4.00 $3.01$3.00 $2.00$2.35 $0.56 $2.00 $0.00($0.31)($2.00)$0.00(b)(c)(d)52 Week Trading Range Research Analyst View(a) Comparable Book Company Comparable MarketCompany Illustrative Premiums Multiple (Book) Comparable Company Multiples Multiple (Market)Firm Value / 2009E EBITDA ^(e)9.3x — 20.8x9.2x — 11.5x8.5x — 9.5x5.4x - 6.4x9.7x — 10.6x 6.8x — 15.2x6.8x — 8.4x6.2x — 6.9x4.0x — 4.7x7.1x — 7.8xSource: Company filings and Wall Street research.(a) $3 target based on Goldman research report, and $5 target based on mid-point of Wachovia $4-$6 valuation range. (b) Firm value calculation based on $399 million of net debt.(c) Firm value calculation based on estimated market value of debt of $370 million.5(d) Based on 10% – 35% 1–Day premium over 3/13/09 spot share price of $3.12. (e) Firm value calculation based on 79.5 million total shares outstanding and $399 million of net debt. Based on $69mm in 2009E EBITDA, using Company projections dated 2/28/2009.

Decision Considerations Incremental Cash Flow($ in millions)Pro Forma Cash FlowCost AnalysisPurchase Price per ShareCurrentPro Forma $3.12$3.82 (a)CXR Overlap78.0%100.0%Aggregate Cost to Buy Minority($53.7)($65.7)Proportional Recurring Cash Flow$43.0$55.1Proportional Cash Flow Gained$12.1$12.1Plus: Public Company Costs3.03.0 Actual CEI Cash Flow0.055.1 Plus: Estimated CMG Synergies2.02.0Less: Interest on Purchase(1.0)(1.3)Net Cash Flow$16.1$15.9Payback Period3.3 Years4.1 Years6Note: Assumes 3/6/09 minority share count.(a) Based on 22% premium to 3/13/09 spot share price of $3.12 (mid-point of illustrative range).

“Strawman” ProposalTransaction Parent proposes to buy 100% of the shares it does not currently own at a price of $[ ] / share Consideration CashStructure Parent to launch tender offer for 100% of the shares Subsequent short-form merger at the same priceConditions Non-waivable majority of minority (8.6 million shares) acceptance condition in tender offer Material Adverse Change Drop Dead Date TBDFinancing Available cash and existing Parent revolver capacity

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