Cumulus Media Stock Price, News & Analysis

Cumulus Media (NASDAQ: CMLS) announced that its Dallas station, KTCK-AM/Sportsradio 96.7 and 1310 The Ticket, won two prestigious awards at the 2021 NAB Marconi Radio Awards. The station was named Sports Station of the Year, and the top-rated morning show hosts, George Dunham, Craig Miller, and Gordon Keith, received the Major Market Personality of the Year award. With over 27 years of experience, The Musers have been a top-rated show in the Dallas-Fort Worth area since 1995, further establishing Cumulus Media's strong presence in audio entertainment.

Cumulus Media (NASDAQ: CMLS) reported impressive third-quarter results for 2021, showing a 21% increase in total revenue year-over-year and a 67% rise in digital revenue. The company highlighted its successful transition from traditional radio to a multi-dimensional audio-first media business. Key financial metrics include a $13 million cash generation from operations, $34 million from a Nashville land sale, and total cash of $153 million. Cumulus anticipates a strong 2022 with EBITDA guidance of $175 - $200 million and expects to achieve over $70 million in permanent fixed cost reductions compared to 2019.

Cumulus Media (CMLS) has partnered with FreeWheel and Triton Digital to integrate its podcast inventory into Strata's media buying platform. This collaboration enables over 1,100 agencies to automate the podcast buying process with validated metrics, marking a significant innovation in the podcast advertising sector. Starting Q4 2021, Strata users will access Cumulus Podcast Network’s curated podcast lineups, backed by reliable data on downloads measured by Triton. This is a pivotal step as podcasting rapidly grows in the U.S., with about 80 million weekly listeners.

Cumulus Media (NASDAQ: CMLS) will hold a conference call on November 3, 2021, at 4:30 PM ET to discuss its Q3 2021 operating results, with a press release to be issued at 4:00 PM ET. Interested participants can register via a provided link, with access details sent post-registration. The call will also be available live on Cumulus Media's investor relations website. The company operates 413 radio stations across 86 markets, delivering diverse programming and advertising services.

Cumulus Media (NASDAQ: CMLS) has announced its participation in the Deutsche Bank 29th Annual Leveraged Finance Conference on October 6, 2021. The company released a new investor presentation, detailing its transition from a radio-focused entity to a multi-dimensional, audio-first media company. Key highlights from the presentation include market recovery, growth in digital business lines, strong free cash flow, and a solid balance sheet. Cumulus is optimistic about delivering additional shareholder value. Access to the investor presentation is available via the company’s website.

Cumulus Media (NASDAQ: CMLS) has appointed Doug Cohn and Bruce Gilbert to newly created senior positions to enhance content development across multiple platforms, including music, entertainment, and sports. Cohn, former Senior Vice President at ViacomCBS, will lead Music & Entertainment, focusing on innovative programming and successful partnerships. Gilbert, who has been with Cumulus for seven years, will oversee Sports, aiming to leverage the company's extensive sports portfolio. These moves, according to EVP Brian Philips, are expected to drive creativity and growth in Cumulus's content offerings.

Audacy and Cumulus Media have formed a content distribution partnership, integrating Cumulus's 413 radio stations and podcasts onto the Audacy digital platform. This collaboration aims to enhance listener access and engagement, aligning with Cumulus's strategy of multi-platform content distribution. The Audacy app now offers users diverse audio options, including over 2,000 local and national stations and numerous devices compatible for streaming. This partnership positions Audacy to strengthen its growth in the digital radio space.

Cumulus Media's Atlanta radio station Q99.7/WWWQ-FM will distribute 5000 free Q99.7-branded PPE face masks at the 2021 Music Midtown Festival in Piedmont Park, Atlanta on September 18. The giveaway aims to promote safety during the event. Attendees can also look for the Q99.7 Maroon 5 Insane Plane featuring a large promotional banner celebrating the band's latest album, JORDI. The festival runs from September 18 to September 19 and is produced by LiveNation.