Welcome to our dedicated page for Cumulus Media news (Ticker: CMLS), a resource for investors and traders seeking the latest updates and insights on Cumulus Media stock.
Cumulus Media Inc. (symbol: CMLS) is a prominent audio-first media company that connects with over 150 million listeners through a diverse suite of platforms including radio, digital media, targeted e-mail, and on-site promotions. As America's second-largest operator of radio stations, Cumulus Media provides high-impact local marketing solutions across 90 metropolitan areas, helping businesses of all sizes to tap into over $4 trillion of local spending power.
Cumulus Media's extensive portfolio includes 401 owned-and-operated radio stations in 85 markets, along with a robust lineup of nationally syndicated media, sports, and entertainment programming through the Westwood One network. This network includes prestigious brands such as the NFL, NCAA, and CNN, ensuring a rich variety of premium content for its diverse audience.
Delivering content to over a quarter billion people every month, Cumulus Media is dedicated to meeting listener demands wherever and whenever they arise. The company's revenue primarily comes from the sale of local, regional, and national advertising. By combining high-quality local programming with iconic national shows, Cumulus Media effectively bridges the gap between advertisers and consumers.
Recent achievements of Cumulus Media include the extension of the Expiration Time for their Exchange Offer and Consent Solicitation, showcasing the company's proactive approach in financial management. As of April 2024, approximately $15 million aggregate principal amount of Old Notes had been validly tendered, reflecting strong participation from stakeholders.
In addition to radio broadcasting, Cumulus Media has a rapidly growing podcast network, distributing, marketing, and monetizing various popular podcasts, including The Candy Valentino Show. This expansion into the podcasting realm further solidifies Cumulus Media's footprint in the audio content industry.
Cumulus Media's commitment to high-quality content, combined with its expansive reach and strategic partnerships, makes it a critical player in the media industry. For more information, visit cumulusmedia.com.
Cumulus Media (NASDAQ: CMLS) reported its 2024 financial results, showing total net revenue of $827.1 million, a 2.1% year-over-year decline. The company's digital revenue grew 5.3% to $154.2 million, representing 19% of total revenue, with digital marketing services up 27%.
The company recorded a net loss of $283.3 million, compared to $117.9 million loss in 2023, primarily due to a $224.5 million non-cash impairment charge. Adjusted EBITDA was $82.7 million, down from $90.7 million in 2023. The company implemented cost reduction measures expected to result in $43 million in annualized fixed cost savings.
Notable operational highlights include 15% growth in streaming impressions and maintained positioning as a top 10 podcast network. The company ended 2024 with $63.8 million in cash and an undrawn $125.0 million ABL facility.
Cumulus Media (NASDAQ: CMLS) has scheduled a conference call for Thursday, February 27th at 8:30 AM ET to discuss its fourth quarter and full year 2024 operating results. The company will release a press release containing the results summary before the call at approximately 8:00 AM ET.
Participants must pre-register through a provided link, which requires one-time email verification through NetRoadshow (NRS). Upon registration, participants will receive calendar invitations with access details, including a unique PIN and replay information. The call will also be broadcast live in listen-only mode through the company's investor relations website.
For operator-assisted dial-in, domestic callers should use 833-470-1428 and international callers 404-975-4839, with participant access code 841974.
Cumulus Media's (NASDAQ: CMLS) Westwood One has secured exclusive English-language audio rights for U.S. Soccer through 2030. The multi-year partnership covers all U.S. Soccer Federation-hosted matches, including USWNT and USMNT friendlies, Concacaf Nations League Quarterfinals, and the SheBelieves Cup.
Westwood One, with over 9,800 affiliated radio stations, will distribute content through its audio network and Cumulus Podcast Network. The partnership launches with the SheBelieves Cup game featuring USWNT vs. Colombia. U.S. Soccer will also launch a new podcast series providing exclusive insights and behind-the-scenes access to national teams.
The agreement positions Westwood One Sports alongside other U.S. Soccer media rightsholders including Warner Bros. Discovery, NBCUniversal Telemundo, and Fútbol de Primera.
Cumulus Media (NASDAQ: CMLS) subsidiary Westwood One announced that talk radio host Mark Levin will interview President Donald J. Trump on 'The Mark Levin Show' on February 10, 2025. This marks Trump's first radio interview since taking office in January. The show, which airs weekdays from 6 to 9 p.m. ET, reaches nearly 400 radio affiliates, including all top 10 metro markets and 21 of the top 25 markets. Westwood One serves as the exclusive distribution and sales representative for Levin's radio program.
Cumulus Media's Westwood One (NASDAQ: CMLS) will broadcast Super Bowl LIX on February 9, 2025, marking its 52nd Super Bowl broadcast. The game features the Kansas City Chiefs vs Philadelphia Eagles at Caesars Superdome in New Orleans.
The broadcast team includes Kevin Harlan (play-by-play), Hall of Famer Kurt Warner (lead analyst), Gene Steratore (rules analyst), and Laura Okmin (sidelines). Scott Graham and Devin McCourty will host pre-game, halftime, and postgame coverage.
For the first time, Westwood One will broadcast the Apple Music Super Bowl LIX Halftime Show featuring Kendrick Lamar with SZA. Coverage begins at 2:00 PM ET with various pre-game shows, leading to the 6:30 PM ET kickoff. The broadcast will reach approximately 600 radio stations, streaming platforms, and the American Forces Radio Network, potentially reaching over 56 million listeners.
Cumulus Media's (NASDAQ:CMLS) Westwood One, America's largest audio network, will broadcast live coverage of NFL Championship Sunday on January 26th, 2025, sponsored by Intuit TurboTax. The coverage includes two championship games: Washington Commanders vs Philadelphia Eagles at 2:00pm ET, and Buffalo Bills vs Kansas City Chiefs at 6:30pm ET.
This marks Westwood One's 38th consecutive year as the NFL's official audio partner. Scott Graham will host pre-, half-, and post-game coverage for the 16th consecutive season. The broadcasts will be available on approximately 500 radio stations nationwide, westwoodonesports.com, SiriusXM, NFL+, and the NFL App.
Cumulus Media (NASDAQ: CMLS) has appointed Steven M. Galbraith, one of its largest shareholders, to its Board of Directors. Galbraith is currently a managing member of Kindred Capital Advisors , which holds significant shares in Cumulus. His extensive financial background includes roles as managing member of Herring Creek Capital, partner at Maverick Capital, and Chief Investment Officer at Morgan Stanley.
Galbraith's appointment brings valuable investment management expertise to the board. He previously served as an Adjunct Professor at Columbia University Business School and advisor to the Office of Financial Research. His current board positions include Success Academy Charter Schools, Third Way, Educational Equity Lab, American Friends of Hebrew University Endowment, Narragansett Brewing Company, Equity Data Science, and Said Holdings
Cumulus Media's (NASDAQ:CMLS) Westwood One continues its role as the NFL's official audio partner for the 38th consecutive year, broadcasting the NFL Divisional Round games on January 18-19, 2025. The coverage, sponsored by Intuit TurboTax, includes four major matchups: Houston Texans vs. Kansas City Chiefs, Washington Commanders vs. Detroit Lions, Los Angeles Rams vs. Philadelphia Eagles, and Baltimore Ravens vs. Buffalo Bills.
The broadcasts will be available on approximately 500 radio stations nationwide, as well as on westwoodonesports.com, SiriusXM, NFL+, and the NFL App. Scott Graham will host the pre-, half-, and post-game coverage for the 16th consecutive season, supported by various commentators including Kevin Harlan, Ross Tucker, and Ian Eagle among others.
Cumulus Media's (NASDAQ:CMLS) Westwood One, celebrating its 38th consecutive year as the NFL's official audio partner, will broadcast live play-by-play coverage of all six NFL Wild Card Weekend games from January 11-13, 2025. The coverage includes:
- Saturday: Chargers vs. Texans (4:00 PM ET) and Steelers vs. Ravens (8:00 PM ET)
- Sunday: Broncos vs. Bills (12:30 PM ET), Packers vs. Eagles (4:15 PM ET), and Commanders vs. Buccaneers (8:00 PM ET)
- Monday: Vikings vs. Rams (7:30 PM ET)
Scott Graham will host pre-, half-, and post-game coverage for Saturday and Sunday games, while Rich Eisen will handle pre- and halftime coverage for Monday's game. Broadcasts will be available on approximately 500 radio stations, westwoodonesports.com, SiriusXM, NFL+, and the NFL App.
Cumulus Media's Westwood One (NASDAQ: CMLS) announces an exclusive partnership to syndicate and distribute 'The Jim Rome Show'. Starting January 6, 2025, the show will move to a new time slot of 3:00pm – 6:00pm EST / Noon to 3:00pm PST. Rome, known for his aggressive and informed sports commentary, will continue broadcasting LIVE weekdays.
The partnership enhances Westwood One's sports programming portfolio. The show currently streams live on X (formerly Twitter) and has recently launched a Fast Channel with A+E Networks, available across seven major platforms including Amazon Freevee, DIRECTV, and Samsung TV Plus.
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