An exact self-consistent linear dispersion relation of a large orbit electron beam including two principles of cyclotron emission with oscillation frequencies above and below the relativistic electron frequency is derived and analyzed numerically for the first time in the literature. The two principles are cyclotron resonance maser (CRM) instability and Cherenkov instability in the azimuthal direction. Self-consistency in the formulation and inclusion of proper boundary conditions have removed the unphysical instability existing for infinitely large kz observed in conventional dispersion relations of CRM instability.