Cumulus Media

Cumulus Media, Inc. engages in the business of radio broadcasting. It operates through the following segments: Radio Station Group, Westwood One and Corporate and Other. The Radio Station Group segment includes the sale of broadcasting time to local, regional, and national advertisers. The Westwood One segment covers the revenues generated through network advertising. The Corporate and Other segment consists of the overall executive, administrative and support functions for each of the company’s reportable segments, including finance and administration, legal, human resources and information technology functions. The company was founded in 2002 and is headquartered in Atlanta, GA.

Earnings data Q1 2021

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Earnings data Q1 2022

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Cumulus Media reports steady Q4 performance amidst ad challenges

Cumulus Media's Q4 performance was steady with a focus on digital growth and cost reductions. While facing challenges in the advertising environment, the company is leveraging opportunities in pricing strategies and portfolio optimization. Analysts raised questions on ad trends and cost reduction strategies during the call.

Cumulus Media (CMLS) reports Q1 revenue decline, focuses on digital growth

Cumulus Media (CMLS) navigated revenue declines, national advertising challenges, and regional disparities in Q1 2023, emphasizing cost reductions and digital growth.
The company showcased strengths in historical cost reductions, digital marketing services growth, and a commitment to innovation and revenue diversification.
Challenges included weak national advertising, ongoing cost management, and uncertainties in improving trends, while opportunities lie in digital growth and cost efficiencies.
Management's focus on maximizing results, maintaining a strong balance sheet, and exploring growth avenues position Cumulus Media for future success amidst challenges and opportunities.

Cumulus Media exceeds EBITDA expectations with digital growth amid challenges

Cumulus Media's Q2 performance showed resilience with revenue meeting expectations and EBITDA surpassing forecasts, driven by strong growth in digital marketing services. The company faced challenges in national advertising but demonstrated cost efficiency and cash generation.
Strengths in digital revenue, cost reductions, and innovative sales strategies position Cumulus Media for future growth. Opportunities in expanding the digital sales force and capturing market share in mid-sized markets present promising avenues for the company.
To address challenges in national advertising and income statement impacts, Cumulus Media must continue its aggressive cost-cutting strategies and focus on enhancing digital marketing services. The company's adaptability and focus on efficiency will be key to navigating market dynamics.

Cumulus Media meets Q3 expectations, eyes growth amid advertising challenges

Cumulus Media's Q3 performance met expectations with a focus on digital growth, cost reductions, and debt reduction.
While facing challenges in national advertising weakness and local revenue decline, the company remains optimistic about future opportunities.
Strategic strengths in cost reduction, debt management, and growth in specific advertising sectors position Cumulus Media for future success.
Balancing challenges with opportunities, Cumulus Media aims to navigate the evolving advertising landscape with cautious optimism and strategic flexibility.

Cumulus Media reports digital growth amidst revenue challenges in 2023

Cumulus Media faced challenges in 2023 but demonstrated strength in digital and streaming revenue growth. Cost reduction efforts led to significant savings, enhancing financial flexibility.
While podcasting revenue declined, improvements were seen in the second half of the year. The company aims to address debt obligations and strengthen its balance sheet amidst macroeconomic uncertainties.
Opportunities lie in digital and streaming growth, along with continued cost reduction initiatives. Cumulus Media remains focused on navigating challenges and optimizing its financial performance.

Cumulus Media (CMLS) reports mixed Q1 results, focuses on digital growth

Cumulus Media's Q1 2024 performance reflects a mixed picture with revenue decline but notable growth in digital and marketing services.
Successful debt refinancing and expense reductions demonstrate the company's commitment to financial stability and operational efficiency.
Challenges include revenue decline and political revenue reduction, while opportunities exist in digital expansion and strategic priorities execution.
Overall, Cumulus Media remains focused on growth, cost management, and balance sheet improvement to navigate industry challenges and drive future success.

Cumulus Media reports Q2 revenue decline but strong DMS growth

Cumulus Media's Q2 performance reflected mixed results with revenue decline but strong growth in DMS business. Cost reduction efforts and debt extension were notable strengths.
Challenges include revenue decline in streaming and overall revenue pressure, with a focus on debt reduction. Opportunities lie in expanding DMS and improving streaming capabilities.
Overall, Cumulus Media remains focused on financial stability, operational efficiency, and strategic growth in key business segments.
The positive outlook and appreciation for participation in the earnings call signal confidence in the company's ability to navigate challenges and capitalize on opportunities.

Cumulus Media meets Q3 expectations, eyes digital growth opportunities

Cumulus Media's Q3 performance met expectations, with digital revenue and DMS business showing robust growth. While facing challenges in political spending and revenue pacing, the company's strengths in broadcast radio and cost management are notable. Opportunities lie in capitalizing on digital growth and maintaining financial flexibility.

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Doubleheader Coverage of AFC and NFC Championship Games airs Sunday, January 28 beginning at 2 p.m. ET Doubleheader Coverage of AFC and NFC Championship Games airs Sunday, January 28 beginning at 2 p.m. ET

Westwood One to Broadcast NFL Conference Championship Sunday, Presented by Intuit Turbo Tax

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) today announced that Westwood One's award-winning daily news magazine program, America in the Morning , joins the Cumulus Podcast Network. With host John Trout, America in the Morning podcast offers up-to-the-minute news reports from around the country and across the globe, with the latest overnight developments in business, breaking news, politics, sports, entertainment, and weather.

America in the Morning Launches On the Cumulus Podcast Network

Top Performance and Mindset Coach Drops New Episodes Each Tuesday and Thursday Top Performance and Mindset Coach Drops New Episodes Each Tuesday and Thursday

The Ed Mylett Show Joins the Cumulus Podcast Network

Six Leading Real Estate Investing Podcasts Join the Cumulus Podcast Network Network Includes #1-Ranked BiggerPockets Real Estate Podcast NEW YORK, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) today announced that the podcasts from BiggerPockets, the leading network and community in the real estate investing space, join the Cumulus Podcast Network. BiggerPockets helps those interested in finding financial freedom through real estate investing by providing useful tools, education, and support with their network of six podcasts that garner more than four million downloads each month, with two of the top-20 ranking podcasts.

BiggerPockets Podcast Network Moves to Cumulus

NEW YORK, Dec. 07, 2023 (GLOBE NEWSWIRE) -- CUMULUS MEDIA's (NASDAQ: CMLS) Westwood One, the largest audio network in the U.S., will present exclusive national audio coverage of the Army-Navy Football Game presented by USAA. One of college football's most legendary rivalries, this year's game will be broadcast live from Gillette Stadium in Foxboro, MA, on Saturday, December 9, 2023, at 2 p.m. ET.

Cumulus Media's Westwood One Presents Exclusive National Audio Coverage of the 124th Army-Navy Football Game

Deal Keeps “The Dan Bongino Show” in Broadcast Syndication on Westwood One and The Dan Bongino Show Podcast on the Cumulus Podcast Network for Multiple Years Deal Keeps “The Dan Bongino Show” in Broadcast Syndication on Westwood One and The Dan Bongino Show Podcast on the Cumulus Podcast Network for Multiple Years

Dan Bongino Extends Contract With Westwood One, Recommits to Broadcast Radio

National advertising and interest rates have suppressed equity of Cumulus, leaving opportunity for outsized gains. Cumulus has reached an inflection point in its growth business vertical of digital marketing, positioning themselves for the advertising rebound. Incremental earnings value-add on top of stable broadcasting business suggests a shareholder price of $7.5 - $15 in a normalized environment.

Cumulus Media: Transformation Hitting High Gear On Ad Rebound

ATLANTA, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) today announced that it has appointed Collin Jones as President of Westwood One, effective January 1, 2024, responsible for Westwood One, the largest audio network in America, and the top-rated Cumulus Podcast Network. Jones adds this position to his current role as EVP of Corporate Strategy & Development for Cumulus Media, reporting to Mary Berner, President and CEO of Cumulus Media. He succeeds Suzanne Grimes, who decided to embark on the next chapter of her career after eight years.

Cumulus Media Taps Collin Jones to Lead Westwood One

NEW YORK, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) announced today that the Cumulus Podcast Network will now provide brand suitability and safety measurement across the Cumulus Podcast Network through Barometer.

Cumulus Podcast Network to Provide Brand Safety & Suitability Measurement Through Barometer

First Ever Black Friday Game Features Twin Brothers Jason and Devin McCourty in the Broadcast Booth with Ian Eagle First Ever Black Friday Game Features Twin Brothers Jason and Devin McCourty in the Broadcast Booth with Ian Eagle

Cumulus Media's Westwood One Presents Exclusive National Audio Coverage of Six NFL Games Over the Thanksgiving Holiday Weekend

Ross Mathews and Bethie Hungerford to Host All-New Cooking Podcast Each Wednesday Beginning November 8 Ross Mathews and Bethie Hungerford to Host All-New Cooking Podcast Each Wednesday Beginning November 8

Cumulus Media Introduces Hello Rossipes Podcast

Cumulus Media Inc. (NASDAQ:CMLS ) Q3 2023 Earnings Conference Call October 27, 2023 8:30 AM ET Company Participants Collin Jones - EVP, Strategy & Development Mary Berner - President & Chief Executive Officer Frank Lopez-Balboa - Chief Financial Officer Conference Call Participants Michael Kupinski - Noble Capital Markets James Goss - Barrington Research Dan Day - B. Riley Securities Operator Good morning.

Cumulus Media Inc. (CMLS) Q3 2023 Earnings Call Transcript

ATLANTA, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the "Company," "Cumulus Media," "we," "us," or "our") today announced operating results for the three and nine months ended September 30, 2023.

Cumulus Media Reports Operating Results for the Third Quarter 2023

Eisen Hosts Westwood One's Radio Program “The Rich Eisen Show” Also Anchors Pregame and Halftime Shows for Westwood One's Syndicated Coverage of NFL's Monday Night Football NEW YORK, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) today announced that Westwood One's nationally syndicated radio host Rich Eisen was named “Network/Syndicated Personality of the Year” at the 2023 Marconi Radio Awards last night. This award is presented to the on-air personality that has shown the most overall success in syndication.

Westwood One Host Rich Eisen Wins Prestigious Marconi Award for Network/Syndicated Personality of the Year

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Westwood One's NFL Primetime Game Broadcasts Available to Fans on Westwoodonesports.com, Affiliated Stations' Primary Digital Platforms, NFL+ and the NFL App

Cumulus Media's Westwood One Launches 37th Consecutive Season As the Exclusive Primetime Network Radio Partner of the NFL

Newest Collaboration, What The Football with Suzy Shuster and Amy Trask, Launches September 12 on the Cumulus Podcast Network Newest Collaboration, What The Football with Suzy Shuster and Amy Trask, Launches September 12 on the Cumulus Podcast Network

Cumulus Media Announces Expanded Partnership With Rich Eisen

NEW YORK, Aug. 31, 2023 (GLOBE NEWSWIRE) --  CUMULUS MEDIA's Westwood One (NASDAQ: CMLS), the largest audio network in the U.S. and the official network radio partner of both the NFL and the NCAA, will broadcast the 2023 Black College Football Hall of Fame Classic live in Canton, Ohio, on Sunday, September 3 at 3:30 p.m. ET. Hosted by the Pro Football Hall of Fame, this year's game will feature the Virginia Union University Panthers and the Morehouse College Maroon Tigers.

CUMULUS MEDIA's Westwood One Presents Exclusive Audio Coverage of the 2023 Black College Football Hall of Fame Classic

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Cumulus Media Inc. (NASDAQ:CMLS ) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET Company Participants Collin Jones - EVP, Strategy and Development Mary Berner - President and CEO Frank Lopez-Balboa - CFO Conference Call Participants Dan Day - B. Riley Securities Avi Steiner - JPMorgan Michael Kupinski - NOBLE Capital Markets Jim Goss - Barrington Research Operator Good morning, ladies and gentlemen.

Cumulus Media Inc. (CMLS) Q2 2023 Earnings Call Transcript

Cumulus Media (CMLS) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.37. This compares to earnings of $0.36 per share a year ago.

Cumulus Media (CMLS) Reports Q2 Loss, Tops Revenue Estimates

ATLANTA, July 28, 2023 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the "Company," "Cumulus Media," "we," "us," or "our") today announced operating results for the three and six months ended June 30, 2023.

Cumulus Media Reports Operating Results for the Second Quarter 2023

NEW YORK, July 11, 2023 (GLOBE NEWSWIRE) -- Cumulus Media's (NASDAQ: CMLS) Westwood One today announced that David Cohn has joined as Senior Vice President, Sales and Digital Partnerships, based in New York and reporting to Brandon Berman, President of Sales, Westwood One. In this new role, Cohn oversees digital sales for Westwood One nationwide, with a focus on growing brand partnerships across podcasting. Cohn also has responsibility for the New York and Atlanta sales teams.

Cumulus Media Names David Cohn Senior Vice President, Sales & Digital Partnerships at Westwood One

ATLANTA, July 10, 2023 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) will host a conference call on Friday, July 28th at 8:30 AM ET to discuss its second quarter 2023 operating results. A press release containing a summary of these results will be issued before the call at approximately 8:00 AM ET.

Cumulus Media Announces Conference Call to Discuss Second Quarter 2023 Operating Results

Cumulus is priced for bankruptcy, but can comfortably service its debt and refinance. Cumulus could liquidate its assets at 35% discount to par and still distribute $9/share to shareholders. Cumulus holds extremely high value assets in Dallas-Fort Worth reasonably valued at $123 million - leading to liquidation distribution of $19/share to shareholders.

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