Published September 29, 2015 4:37pm EDT | Updated September 29, 2015 5:05pm EDT

Cumulus Media Names Mary G. Berner Its New CEO

Cumulus Media Inc. said Tuesday its board of directors has named Mary G. Berner the company's chief executive officer effective Oct. 13. Berner succeeds Lew Dickey, the radio broadcaster's founder and CEO, who has decided to serve as Vice Chairman and continue as a director of the company. Berner has led magazines such as Glamour, TV Guide, and Women's Wear Daily, among others. Shares of Cumulus fell 4.5% in late trading Tuesday after ending the regular session down 8.5%.