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. (OTCQB: CMLS) generates a steady stream of news across broadcast radio, national audio networks, and digital podcasting. As an audio-first media company, its announcements often highlight programming changes, talent signings, sports rights coverage, financial results, and corporate governance updates. This news page aggregates coverage so readers can see how Cumulus Media’s strategy and content offerings evolve over time.
Recent news items feature developments at Westwood One, Cumulus Media’s national audio network business, including the unveiling of a 24/7 sports talk lineup and the appointment of an Executive Director to oversee around-the-clock sports programming. Other releases detail Westwood One Sports’ live play-by-play coverage of NFL Wild Card Weekend as the official network audio partner of the NFL, underscoring the company’s long-running role in major sports audio rights.
Cumulus Media’s digital and podcast initiatives also drive headlines. The Cumulus Podcast Network has announced partnerships with the Shots Podcast Network and "Insight with Chris Van Vliet," as well as the relaunch of The Dan Bongino Show as a two-hour daily podcast. These stories show how the company expands its presence in creator-led entertainment, professional wrestling interviews, and opinion-driven talk content.
Investors and industry followers will also find regulatory and financial updates, such as quarterly operating results and Form 8-K filings, along with governance news like the appointment of Carol Flaton to the Board of Directors. By following this CMLS news feed, readers can track programming moves, talent additions, sports coverage plans, and key financial disclosures that shape Cumulus Media’s position in the radio networks and digital audio landscape.
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.
Cumulus Media reported operating results for the first quarter of 2024 and successfully refinanced its capital structure to secure five-year maturities through a debt exchange and ABL facility upsize and extension. The company reduced its debt principal by approximately $33 million, extended maturities to 2029, obtained favorable interest rates, and maintained a structure free of financial maintenance covenants. Q1 total revenue was $200 million, down 2.7%, in line with guidance. Digital marketing services revenue increased by 25%, and total digital revenue by 7%. Operating losses improved, and the company continues to focus on key business priorities to build long-term shareholder value.
Cumulus Media Inc. announced the expiration and final results of its subsidiary's exchange offer and consent solicitation. The Exchange Offer involved exchanging outstanding 6.750% Senior Secured First-Lien Notes for new 8.000% Senior Secured First-Lien Notes. Approximately $325.7 million of Old Notes were tendered for exchange, representing 94% of the total outstanding principal amount. The Issuer exercised its discretion to waive the Minimum Participation Condition. The settlement of the Exchange Offer is expected to occur today, with each $1,000 principal amount of Old Notes being exchanged into $940 principal amount of New Notes. Consents were solicited for proposed amendments to the Old Notes Indenture, with intentions to enter into a supplemental indenture on the Settlement Date. The Issuer also plans to exchange Old Term Loans for New Term Loans under a new 5-year credit agreement.
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