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 Q3 2024 financial results with total net revenue of $203.6 million, down 1.8% year-over-year. The company's digital revenue grew 7.5% to $40.0 million, with digital marketing services increasing by 38%. However, the company recorded a net loss of $10.3 million compared to net income of $2.7 million in Q3 2023. Broadcast radio revenue declined 5.0% to $138.9 million, while digital revenue now represents 20% of total company revenue. The company generated $3.9 million in cash from operations and reported total debt of $673.0 million at quarter-end.
Cumulus Media Inc. (NASDAQ: CMLS) has announced a conference call scheduled for Friday, November 1st at 8:30 AM ET to discuss its third quarter 2024 operating results. A press release summarizing these results will be issued at approximately 8:00 AM ET before the call. To participate, interested parties must register in advance using the provided link. Upon registration, participants will receive call access details, including a unique PIN, and replay information.
The conference call will also be broadcast live in listen-only mode through the company's investor relations website. A recording of the call will be available shortly after its completion. For operator-assisted dial-in, domestic callers should use 833-470-1428, while international callers should dial 404-975-4839, with the participant access code 535839.
Cumulus Media (NASDAQ: CMLS) has announced the addition of two new podcasts to the Rich Eisen Podcast Network, expanding its sports programming on the Cumulus Podcast Network. The new shows are:
1. No-Contest Wrestling: Hosted by actor O'Shea Jackson, Jr. and TJ Jefferson, launching October 2. The weekly podcast will feature interviews with wrestling stars and cover WWE, AEW, and independent promotions.
2. The Jim Jackson Show: Hosted by former NBA player Jim Jackson, launching October 3. This weekly podcast will cover basketball from college to the NBA, featuring guest interviews and Jackson's insights on finance, business, and lifestyle.
These additions bring the Rich Eisen Podcast Network's total to five shows, distributed and monetized by the Cumulus Podcast Network.
Cumulus Media's Westwood One has announced that The Benny Show has joined the Cumulus Podcast Network. Hosted by Benny Johnson, an award-winning creator, streamer, and podcaster, the show has gained significant popularity in the 2024 news cycle, amassing 12 million subscribers across platforms. The program features commentary and exclusive interviews with notable guests, including presidential candidates and world leaders.
The Benny Show releases new episodes weekdays at 11 a.m. ET on major podcast platforms. Westwood One will now distribute, market, and monetize the show exclusively. Benny Johnson emphasized the show's goal to inform, entertain, and grow its community daily. Collin R. Jones, President of Westwood One, highlighted Benny's strong and independent voice in conservative talk, noting his ability to challenge mainstream opinions with cutting-edge insight.
Cumulus Media (NASDAQ: CMLS) has announced a new original podcast series, 'On the Frontlines with Mark Levin and Yael Eckstein', presented by the International Fellowship of Christians and Jews. The four-part series, launching October 2, 2024, marks veteran broadcaster Mark Levin's first original content series, with Yael Eckstein as co-host.
The podcast will explore Jewish culture, Judeo-Christian values, historical antisemitism, and the events leading to the October 7, 2023 attacks on Israel. Episodes will cover topics such as life in Israel post-attack, the persistence of antisemitism, Israel's history, and Middle East conflicts.
Available on major podcast platforms, the series is produced and distributed by the Cumulus Podcast Network under Westwood One's leadership. Westwood One also syndicates 'The Mark Levin Show' radio broadcast, airing weekdays on nearly 400 radio affiliates across top markets.
Cumulus Media's Westwood One has announced a special live edition of The Dan Bongino Show podcast on September 10, 2024, at 8 p.m. ET. This event coincides with the first presidential debate between Vice President Kamala Harris and former President Donald J. Trump. Dan Bongino will provide real-time commentary and opinions during the debate.
This unique broadcast offers listeners an alternative perspective on the high-stakes political event. By leveraging the popularity of Bongino's show and the timeliness of the presidential debate, Cumulus Media (NASDAQ: CMLS) aims to engage audiences and potentially boost its market presence. The live podcast format allows for immediate reaction and analysis, which could attract viewers seeking additional insights alongside the debate.
Cumulus Media's Westwood One is set to launch its 38th consecutive season as the exclusive primetime network radio partner of the NFL. The coverage for the 2024 season kicks off on September 5 with the defending Super Bowl Champion Kansas City Chiefs hosting the Baltimore Ravens. Notably, the season includes the first-ever NFL game in São Paulo, Brazil, between the Philadelphia Eagles and the Green Bay Packers on September 6.
Westwood One will provide exclusive play-by-play coverage of all NFL primetime regular season games, including Monday Night Football, Thursday Night Football, and Sunday Night Football, as well as special holiday games and the entire postseason. The coverage will culminate with Super Bowl LIX on February 9 in New Orleans, marking the network's 52nd Super Bowl broadcast.
Cumulus Media's Westwood One has announced that The Dan Bongino Show podcast will release a special two-hour edition on August 26, 2024. This coincides with the first day of hearings for the House Republicans' independent investigation into the assassination attempt against former President Donald J. Trump. The investigation is led by Reps. Cory Mills (R-FL) and Eli Crane (R-AZ), joined by other Republican representatives.
Dan Bongino, a former Secret Service Agent, will be one of three witnesses testifying at the forum. The podcast will be recorded at The Heritage Foundation, which is also hosting the forum. Notably, The Dan Bongino Show experienced significant growth in July 2024 as listeners sought Bongino's expertise following the assassination attempt on Trump prior to the Republican National Convention.
Cumulus Media's Westwood One, the largest audio network in the U.S., will provide national audio coverage of the 2024 college football season. The schedule includes 16 regular season games featuring top-20 teams and the Black College Football Hall of Fame Classic. Postseason coverage will include the SEC Championship Game, Army vs. Navy Game, and FCS Championship.
New play-by-play announcer Nate Gatter will be joined by analyst Derek Rackley. The coverage will be available on affiliate stations, WestwoodOneSports.com, TuneIn, the Varsity Network app, and Alexa-enabled devices. The season kicks off on August 24 with SMU vs. Nevada and concludes with the FCS Championship on January 6, 2025.
Cumulus Media (NASDAQ: CMLS) has announced significant leadership changes in its Cumulus Podcast Network. Carolyn Chauncey has been promoted to Senior Vice President of Marketing and Podcasting, taking charge of the network's daily operations, content acquisition, editorial, and production. Chauncey, with nearly 30 years of media experience, will continue to oversee corporate marketing for Cumulus Media, Westwood One, and the Cumulus Podcast Network.
Additionally, Jason Soderberg has been elevated to Vice President of Podcast Operations and Production, managing audio and video production and platform relations. Megan Devine has been promoted to Vice President of Podcast Sales Planning and Yield Optimization to align these functions with revenue-generating activities. These changes aim to strengthen the podcast network's leadership and optimize its operations.
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