SC 13D/A 1 g16673sc13dza.htm CUMULUS MEDIA INC. / LEWIS W. DICKEY, JR. 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. 14)*
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)
November 14, 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   
12 
  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)
   
  12.8%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

2

 

                       
CUSIP No.
  
  231082108 
   Page  
3 
   of   
12 
  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   5,762,307
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   5,762,307
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  5,762,307
     
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)
   
  16.0%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

3

 

                       
CUSIP No.
  
  231082108 
   Page  
4 
   of   
12 
  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. 14 to Schedule 13D 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 Cumulus Media Inc. (the “Company”) (the “Class A Common Stock”).
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.

5

 

Item 3. Source and Amount of Funds or other Consideration
     Item 3 is hereby amended and supplemented as follows:
     From August 2, 2008 through November 14, 2008, the Lewis W. Dickey, Sr. Revocable Trust (the “Trust”), of which Lew Dickey, Sr. is trustee, purchased an aggregate of 432,047 shares of Class A Common Stock for an aggregate purchase price of $1,023,374. Trust funds held by the Trust were the sole source of funds used to acquire the aforementioned shares of Class A Common Stock.
Item 5. Interest in Securities of the Issuer
     Item 5(a) and (c) are hereby amended and restated 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 36,032,902 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 October 31, 2008, as represented on the front cover to the Company’s quarterly report on Form 10-Q for the period ended September 30, 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 12.8% of the outstanding shares of Class A Common Stock.
     Lewis W. Dickey, Sr.
     Lew Dickey Sr. is deemed to beneficially own 5,762,307 shares, or 16.0%, of the outstanding shares of Class A Common Stock, as follows:
  •   884,000 shares of Class A Common Stock directly owned; and
 
  •   4,878,307 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, 27.6% 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.
     (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
  11/10/2008   $ 1.1900       421  
Buy
  11/10/2008   $ 1.2000       2912  
Buy
  11/10/2008   $ 1.2075       50  
Buy
  11/10/2008   $ 1.2100       550  
Buy
  11/10/2008   $ 1.2200       1400  
Buy
  11/10/2008   $ 1.2300       1915  
Buy
  11/10/2008   $ 1.2400       3729  

8

 

                     
Buy/Sell   Executed Date   Price   Quantity
Buy
  11/10/2008   $ 1.2500       5750  
Buy
  11/10/2008   $ 1.2600       1123  
Buy
  11/10/2008   $ 1.2700       400  
Buy
  11/10/2008   $ 1.2800       500  
Buy
  11/10/2008   $ 1.2900       4350  
Buy
  11/10/2008   $ 1.2950       150  
Buy
  11/10/2008   $ 1.3000       4250  
Buy
  11/11/2008   $ 0.9200       271  
Buy
  11/11/2008   $ 0.9400       550  
Buy
  11/11/2008   $ 0.9600       4186  
Buy
  11/11/2008   $ 0.9700       850  
Buy
  11/11/2008   $ 0.9800       300  
Buy
  11/11/2008   $ 1.0000       450  
Buy
  11/11/2008   $ 1.0100       571  
Buy
  11/11/2008   $ 1.0300       50  
Buy
  11/11/2008   $ 1.0400       1450  
Buy
  11/11/2008   $ 1.0600       550  
Buy
  11/11/2008   $ 1.0650       100  
Buy
  11/11/2008   $ 1.0700       4950  
Buy
  11/11/2008   $ 1.0800       1533  
Buy
  11/11/2008   $ 1.0900       1713  
Buy
  11/11/2008   $ 1.1000       4426  
Buy
  11/11/2008   $ 1.1200       1050  
Buy
  11/11/2008   $ 1.1300       3550  
Buy
  11/11/2008   $ 1.1350       150  
Buy
  11/11/2008   $ 1.1400       450  
Buy
  11/11/2008   $ 1.1500       350  
Buy
  11/12/2008   $ 0.7400       100  
Buy
  11/12/2008   $ 0.7426       50  
Buy
  11/12/2008   $ 0.7450       150  
Buy
  11/12/2008   $ 0.7451       50  
Buy
  11/12/2008   $ 0.7499       550  
Buy
  11/12/2008   $ 0.7500       8699  
Buy
  11/12/2008   $ 0.7501       3601  
Buy
  11/12/2008   $ 0.7502       1100  
Buy
  11/12/2008   $ 0.7503       250  
Buy
  11/12/2008   $ 0.7512       100  
Buy
  11/12/2008   $ 0.7515       50  
Buy
  11/12/2008   $ 0.7516       100  
Buy
  11/12/2008   $ 0.7524       100  
Buy
  11/12/2008   $ 0.7531       450  

9

 

                     
Buy/Sell   Executed Date   Price   Quantity
Buy
  11/12/2008   $ 0.7544       100  
Buy
  11/12/2008   $ 0.7548       100  
Buy
  11/12/2008   $ 0.7550       50  
Buy
  11/12/2008   $ 0.7554       100  
Buy
  11/12/2008   $ 0.7560       50  
Buy
  11/12/2008   $ 0.7564       150  
Buy
  11/12/2008   $ 0.7566       100  
Buy
  11/12/2008   $ 0.7580       150  
Buy
  11/12/2008   $ 0.7600       550  
Buy
  11/12/2008   $ 0.7601       1425  
Buy
  11/12/2008   $ 0.7602       1375  
Buy
  11/12/2008   $ 0.7603       100  
Buy
  11/12/2008   $ 0.7605       200  
Buy
  11/12/2008   $ 0.7606       50  
Buy
  11/12/2008   $ 0.7611       100  
Buy
  11/12/2008   $ 0.7624       100  
Buy
  11/12/2008   $ 0.7630       50  
Buy
  11/12/2008   $ 0.7806       200  
Buy
  11/12/2008   $ 0.7817       50  
Buy
  11/12/2008   $ 0.7832       100  
Buy
  11/12/2008   $ 0.7840       150  
Buy
  11/12/2008   $ 0.8200       450  
Buy
  11/12/2008   $ 0.8201       100  
Buy
  11/12/2008   $ 0.8202       100  
Buy
  11/12/2008   $ 0.8203       100  
Buy
  11/12/2008   $ 0.8207       450  
Buy
  11/12/2008   $ 0.8212       150  
Buy
  11/12/2008   $ 0.8250       100  
Buy
  11/12/2008   $ 0.8280       150  
Buy
  11/12/2008   $ 0.8303       100  
Buy
  11/12/2008   $ 0.8329       150  
Buy
  11/12/2008   $ 0.8355       150  
Buy
  11/12/2008   $ 0.8450       450  
Buy
  11/12/2008   $ 0.8499       300  
Buy
  11/12/2008   $ 0.8500       2517  
Buy
  11/12/2008   $ 0.8501       50  
Buy
  11/12/2008   $ 0.8502       100  
Buy
  11/12/2008   $ 0.8504       133  
Buy
  11/12/2008   $ 0.8506       150  
Buy
  11/12/2008   $ 0.8508       150  
Buy
  11/12/2008   $ 0.8509       300  
Buy
  11/12/2008   $ 0.8510       150  
Buy
  11/12/2008   $ 0.8511       100  
Buy
  11/12/2008   $ 0.8512       100  
Buy
  11/12/2008   $ 0.8515       100  
Buy
  11/12/2008   $ 0.8600       200  
Buy
  11/12/2008   $ 0.8825       100  
Buy
  11/13/2008   $ 0.7299       100  
Buy
  11/13/2008   $ 0.7300       400  
Buy
  11/13/2008   $ 0.7350       100  

10

 

                     
Buy/Sell   Executed Date   Price   Quantity
Buy
  11/13/2008   $ 0.7396       200  
Buy
  11/13/2008   $ 0.7397       50  
Buy
  11/13/2008   $ 0.7399       50  
Buy
  11/13/2008   $ 0.7400       1069  
Buy
  11/13/2008   $ 0.7401       42  
Buy
  11/13/2008   $ 0.7403       200  
Buy
  11/13/2008   $ 0.7425       100  
Buy
  11/13/2008   $ 0.7426       450  
Buy
  11/13/2008   $ 0.7428       4  
Buy
  11/13/2008   $ 0.7444       100  
Buy
  11/13/2008   $ 0.7445       50  
Buy
  11/13/2008   $ 0.7449       250  
Buy
  11/13/2008   $ 0.7450       900  
Buy
  11/13/2008   $ 0.7498       500  
Buy
  11/13/2008   $ 0.7499       3550  
Buy
  11/13/2008   $ 0.7500       15570  
Buy
  11/13/2008   $ 0.7525       50  
Buy
  11/13/2008   $ 0.7526       50  
Buy
  11/13/2008   $ 0.7550       500  
Buy
  11/13/2008   $ 0.7575       100  
Buy
  11/13/2008   $ 0.7600       215  
Buy
  11/13/2008   $ 0.7625       100  
Buy
  11/13/2008   $ 0.7632       100  
Buy
  11/13/2008   $ 0.7651       100  
Buy
  11/13/2008   $ 0.7751       100  
Buy
  11/13/2008   $ 0.7851       200  
Buy
  11/13/2008   $ 0.7876       100  
Buy
  11/13/2008   $ 0.8000       100  
Buy
  11/13/2008   $ 0.8025       50  
Buy
  11/13/2008   $ 0.8051       100  
Buy
  11/13/2008   $ 0.8100       200  
Buy
  11/13/2008   $ 0.8200       150  
Buy
  11/13/2008   $ 0.8225       200  
Buy
  11/13/2008   $ 0.8226       100  
Buy
  11/13/2008   $ 0.8250       50  
Buy
  11/13/2008   $ 0.8299       100  
Buy
  11/13/2008   $ 0.8300       250  
Buy
  11/13/2008   $ 0.8350       300  
Buy
  11/13/2008   $ 0.8400       150  
Buy
  11/13/2008   $ 0.8500       450  
Buy
  11/14/2008   $ 0.6300       200  
Buy
  11/14/2008   $ 0.6700       150  
Buy
  11/14/2008   $ 0.6750       50  
Buy
  11/14/2008   $ 0.6800       750  
Buy
  11/14/2008   $ 0.6850       100  
Buy
  11/14/2008   $ 0.6851       200  
Buy
  11/14/2008   $ 0.6899       50  
Buy
  11/14/2008   $ 0.6900       1376  
Buy
  11/14/2008   $ 0.6926       226  
Buy
  11/14/2008   $ 0.6945       150  
Buy
  11/14/2008   $ 0.6959       50  
Buy
  11/14/2008   $ 0.6983       150  
Buy
  11/14/2008   $ 0.6984       100  
Buy
  11/14/2008   $ 0.6985       50  
Buy
  11/14/2008   $ 0.6989       50  
Buy
  11/14/2008   $ 0.6990       200  
Buy
  11/14/2008   $ 0.6999       1700  
Buy
  11/14/2008   $ 0.7000       20087  
Buy
  11/14/2008   $ 0.7026       50  
Buy
  11/14/2008   $ 0.7051       450  
Buy
  11/14/2008   $ 0.7100       461  
Buy
  11/14/2008   $ 0.7101       50  
Buy
  11/14/2008   $ 0.7102       250  
Buy
  11/14/2008   $ 0.7113       350  
Buy
  11/14/2008   $ 0.7126       150  
Buy
  11/14/2008   $ 0.7199       100  

11

 

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: November 17, 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    

12