Exhibit 99

Susquehanna Media Restates Financial Statements for Noncash Charges
February 25, 2003

     York, PA - Susquehanna Media Co. (Media) today announced its intention to
restate its 2000 and 2001 annual financial statements and its 2002 interim
financial statements regarding the accounting for its Susquehanna Radio Corp.
Employee Stock Plan (the Plan). After discussions with its current and former
independent accountants, it has been determined that the Plan's 2000 change in
valuation basis constituted a plan modification requiring different accounting.
The restatements will involve approximately $60 million of noncash charges
against operating income for the increases in Plan share value during those
periods, rather than the direct charges against retained earnings previously
reported. Media intends to disclose these unusual charges as a separate
component of income from operations. These restatements will have no effect on
cash, assets, cash flows or Adjusted EBITDA. Additionally, the cumulative effect
of these restatements on stockholders' equity is expected to be minimal. After
April 1, 2002, Plan share value increases will be recognized as noncash minority
interest charges.

     Media believes these restatements will not result in a breach of any credit
agreement or bond indenture covenants during the periods covered by the
restatements.

     Throughout this lengthy, complex process with both its current and former
independent accountants, KPMG LLP and PricewaterhouseCoopers LLP, respectively,
there have been no allegations of improprieties. Moreover, the previously issued
2000 and 2001 annual financial statements were accompanied by unqualified
reports from Media's independent accountants.

     Media adopted SFAS No. 142 "Goodwill and Other Intangible Assets" as of
January 1, 2002. Media is in the process of reevaluating the January 1, 2002
fair value of certain Federal Communications Commission licenses associated with
its Kansas City radio operations that were acquired in 2000 and 2001. Based on
preliminary information, an estimated $20 million noncash transitional
impairment loss may be reflected as the cumulative effect of a change in
accounting principle. This change would be reflected in Media's 2002 financial
statements.

     These accounting issues are expected to be resolved soon. Media expects to
file a restated 2001 Form 10-K and restated 2002 Forms 10-Q on or about March
10, 2003. Media expects to file its 2002 Form 10-K on or about March 31, 2003.

General

     Media defines Adjusted EBITDA as net income before income taxes,
extraordinary, unusual or non-recurring items, interest expense, interest
income, depreciation and amortization, ESOP expense, non-cash expenses, minority
interest and any gain or loss on the disposition of assets. Adjusted EBITDA
should not be considered an alternative to operating income or to cash flows
from operating activities (determined in accordance with generally accepted
accounting principles).




     For more information please contact Alan Brayman, Treasurer, Susquehanna
Media Co. at (717)-852-2312.

     Some of the statements in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Certain, but not necessarily all, of such forward-looking statements
can be identified by the use of forward-looking terminology, such as "believes,"
"expects," "may," "will," "should," or "anticipates' or the negative thereof or
other variations thereof or comparable terminology, or by discussion of
strategies, each of which involves risks and uncertainties. All statements other
than historical facts included herein, including those regarding market trends,
Media's financial position, business strategy, projected plans, estimated impact
of accounting treatment changes, estimated SEC filing dates, and objectives of
management for future operations, are forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results or performance of Media to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors include,
but are not limited to, general economic and business conditions (both
nationally and in Media's markets), acquisition opportunities and Media's
ability to integrate successfully any such acquisitions, expectations and
estimates concerning future financial performance, financing plans, Media's
ability to service its outstanding indebtedness, the impact of competition,
existing and future regulations affecting Media's business, nonrenewal of cable
franchises, decreases in Media's customers advertising expenditures and other
factors over which Media may have little or no control.