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 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.
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.
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