Openwave Systems (NASDAQ: OPWV) and Cumulus Media (NASDAQ: CMLS) Director Shakeup

Two companies in our WMM MicroCap index are moving today on different variations of the same theme

. Share of Openwave Systems are up $.08, or 4.5% to trade at $1.85 a share on heavy volume as the company's CEO is elected to a powerful trade board, while shares of Cumulus Media are up $.14, or about 5% to trade at $2.97 a share on lighter than average volume as a former director leaves the company.

Openwave is a global software company delivering context-aware mediation and messaging solutions that enable communication service providers and the broader ecosystem to create and deliver smarter services. Today, the company announced that its CEO Ken Denman has been elected to the CTIA (Cellular Telecounications and Internet Association) board of directors. His position is effective in January of 2011. Over the years, Openwave has maintained a relationship with the CTIA and played a vital part in helping set the CTIA's strategic leadership direction on several key issues and initiatives.

"It is an honor to have been elected to the CTIA board," said Mr. Denman. "As the industry continues to evolve, we expect new opportunities to arise for operators as well as players across the mobile ecosystem. Openwave has been an industry leader since the nascent stages of the mobile Internet and we look forward to leveraging our strong heritage of innovation on behalf of the CTIA board."

Meanwhile, on the other side of the index, rormer Cumulus Media, Inc. format directorBill Jones has joined The Country Network (TCN) as the companies Programming Director. Bill has a rich broadcasting career spanning over 33 years and will oversee the network's overall presentation, including selection of music videos and the development of new shows.

The TCN has been growing tremendously since its launch, logging 17.7 million households for the network. Bill has said he is thrilled to be joining the team.

The Country Network's Founder and CEO Warren Hansen stated, "With Mr. Jones directing the programming effort, we have an insider that completely understands the genre and the industry, as well as the needs of the artists. His addition to the core team ensures that we will continue to provide the compelling and relevant content our viewers demand."

Cumulus Media is the second largest radio broadcast company in the United States based on station count (350 stations), and in combination with its affiliate Cumulus Media Partners, LLC, the company believes it is the fourth largest radio broadcast company in the United States based on net revenues.

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Openwave Systems (NASDAQ: OPWV) and Cumulus Media (NASDAQ: CMLS) Director Shakeup

By: Ronald Russo

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