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.
On April 27, 2023, Cumulus Media announced its financial results for Q1 2023, reporting total net revenue of $205.7 million, an 11% decrease year-over-year. The company's digital marketing services revenue increased by 23%, totaling $32.1 million, representing 16% of total revenue. However, Cumulus reported a net loss of $21.5 million, compared to a net loss of $0.9 million in Q1 2022. Adjusted EBITDA also declined, falling to $10.3 million from $31.2 million in the prior year. Ongoing challenges include a weak national advertising market and unfavorable comparisons from the previous year's political revenue. Despite these challenges, the company completed the sale of WFAS-FM for $7.3 million and continued share repurchases while maintaining a solid balance sheet.
Cumulus Media has announced the promotion of Brandon Berman to President of Sales at Westwood One, effective immediately. Berman has dedicated 17 years to Westwood One, rising through various positions, with his most recent role being EVP Sales and Sports Partnerships. He succeeds Ron Russo, who has departed the company for other ventures. President of Westwood One, Suzanne Grimes, commended Berman's strategic leadership and extensive experience in the sports sector, asserting that he is well-equipped to guide the team through economic challenges. Cumulus Media operates over 404 radio stations and is a key player in audio media, reaching over a quarter billion listeners monthly.
Cumulus Media (NASDAQ: CMLS) has released data revealing that over 82 million Americans listen to AM radio each month, with 57% tuning into News/Talk stations for critical local news. This comprehensive analysis, based on the Nielsen Fall 2022 survey, indicates that AM/FM radio maintains a commanding 88% share of in-car ad-supported audio, a figure that has remained stable for six years.
Moreover, Ford owners represent 20% of U.S. AM radio listeners, highlighting the platform's diverse audience. Pierre Bouvard, Chief Insights Officer at Cumulus Media, emphasized the importance of AM radio as a unique media platform amidst discussions of its removal from vehicles.
Cumulus Media Inc. (NASDAQ: CMLS) announced it will host a conference call on April 27, 2023, at 8:30 AM ET to discuss its first quarter 2023 operating results. A press release summarizing these results will be released at approximately 8:00 AM ET, prior to the call. Interested participants can register for the call through a provided link, with an email verification process required. The call will be available in listen-only mode on the company's investor relations website and by phone, with details for both options included. Cumulus Media engages over a quarter billion listeners monthly via its radio stations and affiliate partnerships, offering a range of programming content.
Cumulus Media (NASDAQ: CMLS) announced that four of its on-air personalities received 2023 Gracie Awards, recognizing excellence in media created by, for, and about women. Honorees include Beasy Baybie, Roula Christie, Terri Clark, and Christina Musson, each awarded in different categories for their contributions to local and national programming. The Gracie Awards ceremony is set for May 23 in Los Angeles, with local winners celebrated at a luncheon on June 20 in New York City. The Gracies highlight the achievements of women in media and entertainment, with past winners including notable personalities like Glenn Close and Mindy Kaling.
Cumulus Media (NASDAQ: CMLS) is launching the third installment of its audio series Your Music First, featuring Darius Rucker's new single “Fires Don’t Start Themselves”. This exclusive content will air across 44 Cumulus Country radio stations nationwide over the next four weeks. The series provides personal insights from Rucker and behind-the-scenes stories related to the single, set to be part of his upcoming album Carolyn’s Boy. Cumulus Media aims to enhance listener engagement through this unique campaign, previously featuring artists like Thomas Rhett and Shania Twain. Rucker will also kick off his Starting Fires Tour on June 15th, covering 21 cities.
Cumulus Media (NSDQ: CMLS) announces that Westwood One will provide exclusive audio coverage of the NCAA Men's Final Four and Championship Game in Spanish, starting April 1, 2023. This marks the sixth consecutive year for such broadcasts, presented by Werner Ladder. The Spanish-language broadcasts will feature veteran announcer Rafael Hernández Brito and former All-American Greivis Vásquez as analyst. This initiative aims to reach a diverse audience of basketball fans and construction professionals. Westwood One has been the exclusive network radio partner for NCAA events since 1982, enhancing its engagement with a broad listener base.
Cumulus Media’s Westwood One (CMLS) will provide comprehensive live audio coverage of the 2023 NCAA Men’s and Women’s Final Four from Houston and Dallas, respectively, starting April 1. The Men’s Final Four coverage includes a pregame show at 3:30 p.m. ET and two national semifinal games. Spanish broadcasts will complement the English coverage. The Women’s Final Four kicks off March 31, featuring LSU vs. Virginia Tech, with the National Championship Game set for April 2. Westwood One is also the exclusive radio partner for NCAA Championships, broadcasting since 1982. Notable broadcasts will include original programs like “The Final Four Show.”
Cumulus Media's Westwood One (NASDAQ: CMLS) will broadcast live coverage of the NCAA Men’s Sweet Sixteen on March 23 and 24, starting at 6 p.m. ET each night. Following this, the Men’s Elite Eight will be covered on March 25 and 26, with the NCAA Men’s Final Four on April 1 and the national championship game on April 3, available in both English and Spanish.
A full lineup of college basketball programming will be featured, including daily historical segments and preview shows. Coverage can be accessed via terrestrial radio, SiriusXM, and online streaming platforms.
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