Cumulus Media Stock Price, News & Analysis

Cumulus Media's Westwood One is set to broadcast the 2022 Women’s College World Series (WCWS) from June 2 to June 10 at the USA Softball Hall of Fame Stadium in Oklahoma City. The broadcasts will cover every game, including preliminary rounds and the championship series. The play-by-play will be handled by Ryan Radtke and Chris Plank, with analysts Destinee Martinez and Leah Amico. Fans can listen via Westwood One affiliates, SiriusXM, and online platforms including westwoodonesports.com.

Cumulus Media’s Westwood One is set to broadcast the NCAA Men’s and Women’s Lacrosse Semifinals and Championship Games for the first time during Memorial Day weekend. This includes the Women’s National Semifinal and Championship games alongside the Men's events. The Women's matches will take place on May 27 and 29, featuring play-by-play by Cooper Boardman and analyst Alyssa Murray Cometti. The Men's matches will occur on May 28 and 30, with Dave Ryan and Mark Dixon covering the action. Coverage can be accessed via Westwood One affiliates and online streaming.

Cumulus Media (NASDAQ: CMLS) announced its intent to initiate a modified Dutch auction tender offer, aiming to purchase up to $25 million of its Class A common stock. Shareholders can tender shares at a price between $14.50 and $16.50 each. This move follows the Board's authorization of a $50 million share buyback program and reflects the company's belief that its stock is undervalued. The tender offer will commence on May 6, 2022, and is set to expire on June 3, 2022. Cumulus emphasizes that the offer is designed to maximize shareholder value while maintaining financial flexibility for future growth.

Cumulus Media reported impressive Q1 2022 results, achieving a 15% revenue increase and a 250% rise in EBITDA to $31.2 million, driven by digital revenue growth of 18%. The company ended the quarter with a net leverage ratio of 3.9x, its lowest in over a decade, and reiterated its 2022 EBITDA guidance of $175-200 million. A $50 million share repurchase program was announced, reflecting confidence in future growth. The Board deemed a recent acquisition offer of $15-$17 per share as significantly undervaluing the company, emphasizing its long-term strategy for maximizing shareholder value.

Cumulus Media reported a strong Q1 2022, achieving a 15% year-over-year revenue growth to $232 million. Digital revenue surged 18%, led by digital marketing services and podcasting. The company's EBITDA rose 250% year-over-year, hitting $31.2 million, while net loss narrowed significantly to $0.9 million from $21.9 million in Q1 2021. Cumulus also announced a $50 million share repurchase program and reduced its net leverage to 3.9x, the lowest in over a decade, reflecting financial strength and a positive outlook for 2022.

Cumulus Media (NASDAQ: CMLS) has promoted Brian Philips to Chief Content Officer, overseeing content across all platforms. This decision reflects the company’s commitment to an audio-first strategy, transitioning from traditional radio to a multi-dimensional media company. Philips, who played a critical role as Executive Vice President since 2019, has over 30 years of experience in radio, television, and film. Cumulus engages over 250 million listeners monthly through its extensive network of radio stations and podcasts, providing significant advertising opportunities.

Cumulus Media (NASDAQ: CMLS) has revealed that AM/FM radio streaming now constitutes 12% of total listening among persons aged 25-54. The report indicates a significant rise in streaming audiences, who are primarily upscale and employed. Notably, spoken word programming accounts for 36% of all U.S. streaming. The audience shows a high concentration in local markets, enhancing the value for advertisers targeting these areas. Since 2017, the ad-supported share of AM/FM radio streaming increased from 5% to 11%, indicating a shift in listening trends.

Cumulus Media (NASDAQ: CMLS) announced a conference call scheduled for May 4, 2022, at 8:30 AM ET to discuss its Q1 2022 operating results. A press release summarizing these results will be available at approximately 8:00 AM ET on the same day. Participants can register for the call via a provided link and will receive access details upon completion. The call will also be streamed live on the company's investor relations website, along with a later recording. Cumulus Media operates 406 radio stations and offers diverse audio content through various platforms.