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 announced a significant surge in audience numbers for The Dan Bongino Show podcast in July 2024. The show experienced a 40% increase in audio downloads compared to June, totaling 16,382,838 downloads. This growth was attributed to listeners seeking Bongino's expertise as a former Secret Service agent following an assassination attempt on Donald Trump before the Republican National Convention.
The podcast achieved high rankings across major charts, reaching number 2 Overall on Apple Podcasts and number 3 on Spotify's Podcast Charts. In the last two weeks of July, the average download per episode was 30% higher than the previous month. Additionally, Rumble video views increased by 51%, totaling 42,656,001 views in July.
Cumulus Media Inc. (NASDAQ: CMLS) reported Q2 2024 results with total revenue of $204.8 million, down 2.5% year-over-year. The company completed a successful debt exchange, reducing debt obligations by $33 million and extending maturities to 2029. Digital revenue grew 5% to $39.4 million, with digital marketing services up 24%. The company reported a net loss of $27.7 million compared to a $1.1 million loss in Q2 2023. Adjusted EBITDA was $25.2 million, down from $30.7 million in Q2 2023. Cumulus also upsized its ABL facility by 25% to $125 million and extended its maturity to 2029. The company reduced fixed costs by $4 million and continued to strengthen its balance sheet.
Cumulus Media (NASDAQ: CMLS) announced that Dan Bongino will host Republican Vice-Presidential candidate JD Vance on “The Dan Bongino Show” today from 2-3:00 p.m. ET. The live interview will be broadcast on Westwood One terrestrial affiliates and streamed on Bongino.com and affiliated radio stations like WMAL Washington DC. The interview will also be available on The Dan Bongino Show Sunday special podcast on August 4, on platforms such as Apple Podcasts, Spotify, Stitcher, TuneIn, and Google Podcasts. “The Dan Bongino Show” airs live Monday-Friday from 12 to 3 p.m. ET on 340 stations in the U.S.
Cumulus Media Inc. (NASDAQ: CMLS) has announced a conference call scheduled for Friday, August 2nd at 8:30 AM ET to discuss its second 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. The call will also be broadcast live in listen-only mode through the company's investor relations website. For those joining by phone with operator assistance, domestic callers should dial 833-470-1428, while international callers should use 404-975-4839, with the participant access code 044716. Participants are advised to call five to ten minutes in advance to ensure connection prior to the call start time.
Cumulus Media's Westwood One has launched a new podcast, Bongino Report Early Edition with Evita, as part of the Cumulus Podcast Network. This daily show, hosted by Gen Z journalist Evita Duffy-Alfonso, covers top stories and is the first podcast extension under the Bongino umbrella. The podcast is available on major platforms and streams live on Rumble. Cumulus Podcast Network handles distribution, marketing, and monetization for all Dan Bongino and Bongino Report podcasts, while Westwood One exclusively distributes and sells 'The Dan Bongino Show' syndicated radio program.
Westwood One and Cumulus Podcast Network are set to provide special programming coverage of the Republican National Convention from July 15-19, 2024. Dan Bongino, host of The Dan Bongino Show, will stream live coverage in addition to his regular syndicated radio show and daily podcast. Rich Valdés, host of Rich Valdés America at Night, will cover the convention and conduct interviews with key party members.
The coverage will feature special guests including Eric Trump, Lara Trump, Michael Whatley, Mike Johnson, Ronnie Jackson, and Vivak Ramaswamy. Westwood One's full slate of news/talk programming will provide updates throughout the convention. Listeners can tune in via terrestrial radio affiliates, live streams, and various podcast platforms.
Cumulus Media (NASDAQ: CMLS) has announced the extension of Mark Levin's contract for his syndicated radio show, ‘The Mark Levin Show,’ and his podcast, ‘Mark Levin Audio Rewind.’ The agreement, effective for multiple years, will continue to air Levin’s show on Westwood One and the Cumulus Podcast Network. Additionally, Levin will develop and host his first original content podcast series for the network. ‘The Mark Levin Show’ airs weekdays from 6-9 p.m. ET on nearly 400 affiliates, including all ten top metro markets and 21 of the top 25 markets. The podcast drops Monday through Friday, with a weekend roundup called ‘The Best of Mark Levin.’ Cumulus will exclusively distribute, market, and monetize the podcast. Collin R. Jones, President of Westwood One, praised Levin's ability to connect with listeners and deliver strong results for advertisers, expressing enthusiasm for the extended partnership.
Cumulus Media (NASDAQ: CMLS) announced that Kriston Aitken will be promoted to Chief Human Resources Officer, effective July 1, 2024. Aitken will report directly to President and CEO Mary G. Berner and will oversee HR strategy and operations, talent management, and compensation and benefits, while fostering company culture. She succeeds Todd McCarty, who is retiring after nearly nine years with the company. Aitken has been with Cumulus Media since 2016 and has served as Senior Vice President of Human Resources for the past two years. She brings nearly two decades of HR experience, including roles at Starwood Hotels and Resorts. Berner praised Aitken's dedication and operational skills, emphasizing her readiness for the role and her commitment to maintaining and enhancing the company's culture.
Cumulus Media (NASDAQ: CMLS) announced The Candy Valentino Show joining the Cumulus Podcast Network. The show features entrepreneur Candy Valentino interviewing successful minds and sharing insights on wealth, business, and real estate. New episodes release on Mondays and Thursdays on various platforms. Cumulus will handle distribution, marketing, and monetization.
Cumulus Media announced Mike Eaby's promotion to Vice President/Executive Producer of Westwood One Sports. Eaby, with nearly 30 years of experience at Westwood One Sports, will oversee all multi-platform content and live event production. He succeeds Howard Deneroff and will report to Bruce Gilbert, Senior Vice President, Sports Content & Audience for Cumulus Media and Westwood One. Eaby's extensive career includes work on NFL, NCAA March Madness, Masters Tournaments, Olympic Games, and PGA Championships broadcasts.
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