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. (NASDAQ: CMLS) serves as a cornerstone of the evolving audio media landscape, operating 400+ radio stations while expanding into podcasting and digital solutions. This dedicated news hub provides investors and industry observers with comprehensive updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases alongside curated analysis covering earnings reports, content partnerships, and market positioning within the competitive media sector. The resource consolidates critical updates ranging from Westwood One syndication deals to podcast network expansions, ensuring stakeholders maintain informed perspectives on this audio-first innovator.
Regular updates include coverage of leadership changes, advertising innovations, and responses to industry trends affecting radio broadcasting and digital audio consumption. All content undergoes rigorous verification to ensure accuracy and relevance for financial decision-making.
For consistent access to Cumulus Media's latest developments, bookmark this page or check back regularly for real-time updates impacting one of America's largest radio broadcasters and audio content providers.
Cumulus Media's Westwood One released a study revealing that their NFL play-by-play broadcasts reach 56 million listeners over the season, highlighting a more engaged audience compared to TV viewers. The radio audience is characterized by higher passion for sports, greater participation in sports betting, and younger demographics. Key findings show that radio listeners spend 16% more than the average American and that increasing advertisements significantly boosts audience reach. Additionally, the study indicates that radio broadcasts enhance NFL TV viewership, showing a 24% increase among Millennial men.
Cumulus Podcast Network has launched a new series titled "Voices of Football" on the podcast Just Getting Started with Rich Eisen. The series debuted on September 9, 2021, featuring Al Michaels as the first guest, discussing his illustrious career. Subsequent episodes will air weekly every Wednesday, with notable guests including Joe Buck and Erin Andrews. This initiative aims to engage listeners with stories from prominent football personalities and is accessible on popular platforms like Apple Podcasts and Spotify.
Cumulus Media's Westwood One embarks on its 35th season as the exclusive network radio partner of the NFL. The season kicks off on September 9, 2021, showcasing the Super Bowl Champion Tampa Bay Buccaneers hosting the Dallas Cowboys. Coverage includes primetime games, Thanksgiving, Christmas, and the Super Bowl LVI on February 13, 2022. Broadcasts will be available on nearly 500 radio stations and platforms like SiriusXM and NFL Game Pass. The season features prominent sports commentators including Kevin Harlan and Kurt Warner.
Cumulus Media's Westwood One (NASDAQ: CMLS) has renewed its multi-year partnership with the NCAA, continuing its role as the official audio broadcast network. This collaboration dates back to 1982, covering NCAA Men's Basketball Tournament and all 90 NCAA Championships. Westwood One retains exclusive rights for radio, digital audio, distribution, and licensing across multiple platforms. The renewal ensures that fans can access live coverage through Westwood One affiliates and online platforms such as the NCAA mobile apps.
Cumulus Media has completed the sale of non-core real estate in Nashville for $34 million, providing an opportunity to enhance its financial flexibility. CFO Francisco J. Lopez-Balboa noted that the sale exceeded expectations and reflects the company's strategy to de-lever its balance sheet and improve liquidity. The net proceeds will be used to pay down debt across the company’s Term Loan Credit Facility and Senior Secured First Lien Notes, ensuring continued focus on growth initiatives.
Cumulus Media reported a strong second quarter for 2021, with net revenue of $224.7 million, up 53.9% year-over-year. Digital revenue soared by 55%, reaching new highs across multiple channels. The company reduced its fixed costs, expecting total savings to reach $70 million by 2022. Cumulus also enhanced its position in the sports betting sector through a partnership with WynnBET and monetized Nashville real estate for $34 million. Despite a net loss of $5.9 million for the quarter, adjusted EBITDA rose significantly to $36.9 million, reflecting robust operational leverage.
Cumulus Media's Westwood One has expanded Emmy-nominated broadcaster Rich Eisen's role to include hosting duties for Monday Night Football, starting September 13, 2021. Eisen will cover the NFL's Opening Night on September 9 and contribute to Super Bowl LVI coverage on February 13, 2022. Westwood One's lead broadcast crew includes Kevin Harlan and Kurt Warner. Eisen also hosts two podcasts for Cumulus and is a prominent figure in sports broadcasting.
On July 28, 2021, WynnBET and CUMULUS MEDIA launched a multi-year partnership, enhancing WynnBET's marketing reach through CUMULUS's platform, which engages over 250 million monthly listeners. This collaboration positions WynnBET as a major advertising partner for CUMULUS MEDIA, facilitating targeted messaging across radio stations and digital platforms. WynnBET will benefit from national exposure and endorsements, contributing to its growth in the rapidly expanding sports betting market. This partnership signals an aggressive strategy to boost user acquisition and brand engagement.
WynnBET and CUMULUS MEDIA have announced a multi-year partnership aimed at enhancing WynnBET's visibility and user engagement. This collaboration enables WynnBET to leverage CUMULUS MEDIA's reach, which engages over 250 million listeners monthly. The partnership includes national advertising on prominent programming and local promotions across CUMULUS radio stations. Additionally, advanced targeting technology will allow customized messaging to diverse markets. This move is positioned to strengthen WynnBET's brand presence in the rapidly growing sports betting sector.
Cumulus Media (NASDAQ: CMLS) is set to host a conference call on August 4, 2021, at 8:30 AM ET, to discuss its second quarter 2021 operating results. A press release summarizing these results will be issued earlier that day at around 8:00 AM ET. Interested participants can register via a provided link for access details, and the call will also be live-streamed on the company’s investor relations website. Cumulus Media is a leading audio-first media and entertainment company, reaching over 250 million listeners each month.
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