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’s Westwood One will provide exclusive national audio coverage of the Army-Navy Football Game on December 10, 2022, at 2 p.m. ET from Lincoln Financial Field in Philadelphia, PA. The broadcast features play-by-play by John Sadak, analysis from Ross Tucker, and sideline reporting by Tina Cervasio, along with a pregame, halftime, and postgame show hosted by Jason Horowitz.
This significant college football rivalry will be available for streaming via multiple platforms, including WestwoodOneSports.com, TuneIn, SiriusXM, and others.
Cumulus Media's Westwood One is enhancing its collaboration with The Daily Wire by adding “The Matt Walsh Show” to its daily programming block, effective January 2, 2023. This move aims to strengthen conservative media representation by featuring a trio of influential hosts—Ben Shapiro, Matt Walsh, and Michael Knowles—in a three-hour segment from 3 p.m. to 6 p.m. Eastern each weekday. This expansion is part of Cumulus' broader strategy to engage over 250 million listeners monthly across diverse platforms.
Cumulus Media (NASDAQ: CMLS), in collaboration with Signal Hill Insights, released the Podcast Download – Fall 2022 Report, highlighting insights about podcast listeners. The report indicates that most listeners are comfortable with potentially objectionable content and that watchable podcasts are gaining traction, particularly among newcomers. Notably, 20% of podcast listeners with children engage in co-listening, suggesting a family-friendly trend. The study involved 603 respondents, aiming to analyze the evolving preferences within the booming podcast industry.
Cumulus Media announced the passing of veteran broadcaster Jim Bohannon, who hosted 'The Jim Bohannon Show' for over 30 years. He died at 78, leaving a legacy as one of America’s top radio personalities. Bohannon started his career in 1960 and was known for his extensive contributions to radio, including anchoring newscasts and hosting national shows. He received numerous accolades, including being inducted into the National Radio Hall of Fame. He is survived by his wife and daughter. Donations in his memory are encouraged to support veterans.
Cumulus Media reported Q3 operating results with a 2% decline in total revenue, attributed to challenges in national advertising channels. Despite this, digital revenue grew by 5% year-over-year, bolstered by strong performance in digital marketing services and streaming. The company generated $24 million in cash from operations and repurchased $3.9 million in shares, improving net leverage to 3.7x, the lowest in over a decade. Overall, Cumulus remains confident in its strategic initiatives aimed at enhancing shareholder value.
Cumulus Media announced that Rich Valdés will be the new host of The Jim Bohannon Show, starting October 17, 2022. Valdés, a seasoned talk show host, succeeds Jim Bohannon, who retired on October 14, 2022, after over 30 years. Valdés aims to continue Bohannon's legacy of engaging listeners with a mix of breaking news, features, and informative discussions. His first guest will be Mark Levin, a notable media personality. Cumulus Media operates over 405 radio stations and offers various programming through its extensive audio network.
Cumulus Media announced the retirement of legendary broadcaster Jim Bohannon as host of The Jim Bohannon Show for health reasons, effective October 14, 2022. Bohannon has hosted the program for over 30 years, and his farewell show will feature special guests and listener interactions. Starting October 17, Rich Valdes will take over as guest host, continuing the program's tradition of quality content. Bohannon's contributions to radio include numerous accolades, such as his induction into the NAB Broadcasting Hall of Fame.
Cumulus Media (NASDAQ: CMLS) has launched the Bay Area's first sports radio station focused on sports betting, 810 THE SPREAD, aimed at catering to the growing sports betting audience in San Francisco. The new station will provide expert insights and engaging content, broadcasting on the established 810 AM frequency. Program Director Kevin Graham leads the station, which features a dynamic lineup including shows like Bet QL Daily and Jim Rome. Cumulus aims to enhance its sports content offerings alongside sister stations KNBR and KTCT.
Cumulus Media (CMLS) will hold a conference call on October 28, 2022, at 8:30 AM ET to discuss its Q3 2022 operating results. A press release with a summary of these results will be released at approximately 8:00 AM ET. Participants can register in advance through a provided link and listen to the call live via the company's investor relations website. The call will also be accessible via phone for domestic and international callers.
Cumulus Media (NASDAQ: CMLS) announces the launch of Hello Ross, an original podcast hosted by Ross Mathews. The show, which debuts with an interview featuring Chelsea Handler, will release new episodes every Thursday across various platforms, including YouTube. Cumulus Media aims to engage listeners with its growing podcast network, enhancing its portfolio in the audio-first media landscape.
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