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 (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.
Cumulus Media's Westwood One (NASDAQ: CMLS) announces exclusive live coverage of the NCAA Division I Women's Basketball Championship, starting March 24, 2023. The coverage includes the Sweet Sixteen, Elite Eight, Final Four, and the national championship game on April 2, 2023. The broadcasts will be available via AM/FM radio, SiriusXM, and online platforms, ensuring fans can access the action easily. With over 25 years of broadcasting this championship, Westwood One continues its partnership with the NCAA, bringing top-quality sports commentary and analysis to audiences nationwide.
Cumulus Media's Westwood One (NASDAQ: CMLS) is set to provide comprehensive coverage of the NCAA Division I Men’s Basketball Championship starting March 14, 2023. This year, fans can enjoy all 67 tournament games on over 500 radio stations, SiriusXM, and online streaming platforms including NCAA March Madness Live. The network will also broadcast the Final Four and National Championship in both English and Spanish. Notable announcers include Kevin Kugler, Jim Jackson, and Clark Kellogg, ensuring an engaging listening experience. Westwood One has previously delivered quality audio coverage and continues to expand its reach.
Cumulus Media (NASDAQ: CMLS) is launching a new audio series, Your Music First, featuring Shania Twain and her latest single, “Giddy Up!”. This initiative highlights exclusive insights from Twain, the best-selling female artist in Country music history, across 21 Adult Contemporary radio stations. The series aims to give listeners a behind-the-scenes look at new music and the artist's personal journey. The campaign is in collaboration with Republic Records and will increase engagement with core audiences. Twain is set to kick off her Queen of Me Tour on April 28, 2023, across North America and Europe.
Cumulus Media's (NASDAQ: CMLS) Westwood One announces a comprehensive broadcast schedule featuring 23 NCAA Championship games from March 4-12, 2023. This includes 20 men's games and three women's games, marking it as the exclusive audio home for NCAA basketball tournaments. Key broadcasts include the Ohio Valley Conference Championship and Selection Sunday, which reveals the 68-team field for both tournaments. The coverage is enhanced by experienced hosts and analysts, ensuring rich listener engagement during this crucial postseason period.
Cumulus Media (NASDAQ: CMLS) launched Mark Levin’s official podcast channel on YouTube, @marklevinshow, on February 27, 2023. The channel provides fresh daily content, featuring segments such as Mark Levin Audio Rewind, Mark’s Take on History, Newsmaker Interviews, and America’s Election Coverage, along with Shorts on current issues. Levin expressed excitement about reaching new audiences and sharing his audio library creatively. Cumulus Media is known for its extensive audio programming across 404 radio stations and a variety of entertainment and news content, impacting over a quarter billion listeners monthly.
Cumulus Media (NASDAQ: CMLS) has re-launched the iconic 99X morning show as “The Morning X with Barnes & Leslie,” co-hosted by original duo Steve Barnes and Leslie Fram. This comes after a significant fan response to the 99X museum website celebrating the station's 30th anniversary. The show now airs weekdays from 6-10 a.m. ET, featuring new content alongside classic segments. Following its revival in December 2022, the station's ratings have surged, ranking among Atlanta's top ten stations. The popular podcast previously known as The Pop Culture Show has also rebranded and integrates with the Cumulus Podcast Network.
Cumulus Media reported a total revenue of $953.5 million for the year ending December 31, 2022, marking a 4% year-over-year increase. Digital revenue surpassed $142 million, up 12%. However, net income decreased by 6% to $16.2 million. The Adjusted EBITDA rose 23% to $166.0 million. Cumulus focused on reducing debt, achieving a net leverage ratio of 3.7x, its lowest in over a decade, and repurchased shares totaling approximately 12.1% of its common shares. Despite economic challenges, the company expressed confidence in navigating future opportunities.
Cumulus Media (NASDAQ: CMLS) released a new study through Westwood One’s Audio Active Group®, highlighting the NCAA March Madness AM/FM radio audience as a highly engaged consumer group. The 2022 data indicates these listeners are primarily younger, full-time workers who exhibit a significant passion for college basketball. The study found that they frequently attend sporting events, seek sports information via mobile devices, and are likely to participate in fantasy sports. Moreover, this group demonstrates high purchase intent in key consumer categories, such as vehicles, insurance, and housing, improving advertising effectiveness.
Cumulus Media (NASDAQ: CMLS) announces its 50th Super Bowl broadcast with Westwood One, covering Super Bowl LVII on February 12, 2023. The network will feature play-by-play from Kevin Harlan and analysis by Kurt Warner, alongside other prominent sports figures. Coverage will start at 2:00 p.m. ET and includes pregame, halftime, and postgame shows. The broadcast will be available on around 600 radio stations, SiriusXM, and via NFL platforms, reaching over 56 million listeners each season. This event marks Westwood One's 36th consecutive year as the NFL's official audio broadcast partner.
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