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. (OTCQB: CMLS) generates a steady stream of news across broadcast radio, national audio networks, and digital podcasting. As an audio-first media company, its announcements often highlight programming changes, talent signings, sports rights coverage, financial results, and corporate governance updates. This news page aggregates coverage so readers can see how Cumulus Media’s strategy and content offerings evolve over time.
Recent news items feature developments at Westwood One, Cumulus Media’s national audio network business, including the unveiling of a 24/7 sports talk lineup and the appointment of an Executive Director to oversee around-the-clock sports programming. Other releases detail Westwood One Sports’ live play-by-play coverage of NFL Wild Card Weekend as the official network audio partner of the NFL, underscoring the company’s long-running role in major sports audio rights.
Cumulus Media’s digital and podcast initiatives also drive headlines. The Cumulus Podcast Network has announced partnerships with the Shots Podcast Network and "Insight with Chris Van Vliet," as well as the relaunch of The Dan Bongino Show as a two-hour daily podcast. These stories show how the company expands its presence in creator-led entertainment, professional wrestling interviews, and opinion-driven talk content.
Investors and industry followers will also find regulatory and financial updates, such as quarterly operating results and Form 8-K filings, along with governance news like the appointment of Carol Flaton to the Board of Directors. By following this CMLS news feed, readers can track programming moves, talent additions, sports coverage plans, and key financial disclosures that shape Cumulus Media’s position in the radio networks and digital audio landscape.
Cumulus Media (NASDAQ: CMLS) has successfully reduced its debt by $175 million using available cash. CFO Francisco J. Lopez-Balboa highlighted the positive impact of improving economic conditions on business momentum, leading to this debt repayment strategy. Key actions included a $60 million paydown of its ABL Revolver and approximately $89 million from its Term Loan related to prior asset sales. The company also launched a tender offer to repurchase around $26 million of its Senior Secured Notes, enhancing its financial flexibility with over $200 million in liquidity.
Cumulus Media (NASDAQ: CMLS) has entered into an agreement with Adomni, becoming its exclusive sales partner for the Uber OOH advertising network. This network features dual-sided digital screens mounted on Uber vehicles, providing a unique advertising avenue for local businesses in Cumulus's operational markets. The partnership aims to enhance advertising offerings, integrating Uber OOH with Cumulus's extensive audio and digital service portfolio.
Cumulus Media (NASDAQ: CMLS) has announced plans to reduce $175 million in debt using available cash. CEO Mary G. Berner noted growing economic conditions are enabling this acceleration in debt repayment, which will enhance financial flexibility and reduce interest expenses.
Since exiting bankruptcy in 2018, Cumulus has lowered its net debt by approximately $600 million. Recent debt repayment actions include a $60 million paydown of its ABL Revolver and a mandatory prepayment of $89 million related to past asset sales.
On May 24, 2021, Dan Bongino premiered The Dan Bongino Show with a live interview featuring Former President Donald J. Trump. Trump hinted at a potential presidential run in 2024, stating he is seriously considering it. He criticized the New York Attorney General's investigation as prosecutorial misconduct and reaffirmed an assertion about the coronavirus's origins. The show, aired on Cumulus Media and Westwood One, launched with 122 radio affiliates, airing live weekdays from 12 to 3 p.m. ET.
Cumulus Media (NASDAQ: CMLS) has launched AM1230Digital, the first all-digital AM station in the New York metropolitan area. This innovative station features a comprehensive weekday news talk lineup and weekend sports programming powered by CBS Sports Radio. Enhanced signal quality allows a broader reach, extending into key areas such as New York City and parts of New Jersey. The conversion to digital enables targeted advertising opportunities for brands, appealing to affluent listeners.
On May 20, 2021, Cumulus Media's Westwood One announced the launch of The Dan Bongino Show, a live broadcast featuring Dan Bongino, a former Secret Service agent and popular conservative commentator. The show will air from 12 to 3 p.m. ET, starting on May 24, with former President Trump joining for the inaugural episode. The show initially has over 115 affiliates, including major stations across the U.S. Bongino's media presence has grown significantly, achieving a 155% increase in unique website visitors and over 117 million podcast downloads in 2020.
Xperi Holding Corporation (NASDAQ: XPER) and CUMULUS MEDIA (NASDAQ: CMLS) have announced the integration of CUMULUS MEDIA's radio stations into the DTS AutoStage connected car platform. This innovative hybrid radio platform enhances listener engagement by providing seamless access to programming, regardless of the vehicle's broadcast range. The DTS AutoStage supports operations in 60 countries and is available to broadcasters at no cost. The partnership aims to visually enrich the in-vehicle listening experience while ensuring compliance with privacy and copyright obligations.
Cumulus Media (CMLS) reported Q1 2021 results showing a 11.5% year-over-year decline in total revenue, with net revenue at $201.7 million. Despite these declines, the company noted significant gains in podcasting revenue, up 35% year-over-year. The EBITDA dropped to $8.9 million, a 68.6% decrease from the previous year, and a net loss of $21.9 million was recorded. Permanent cost reductions exceeding $10 million positively impacted Q1 performance, contributing to a stronger cash position with $294 million available and total debt at $983 million.
Cumulus Media (NASDAQ: CMLS) will host a conference call on May 5, 2021, at 8:30 AM ET to discuss its first quarter 2021 operating results. A press release summarizing these results will precede the call at approximately 8:00 AM ET. The conference call will be available for live streaming on the company's investor relations website, with a recording accessible afterward. Domestic callers can join by dialing 833-614-1549, while international participants can call 914-987-7288, using the conference ID 8099597.
Cumulus Media reported its operating results for Q4 and the full year 2020, revealing a net revenue decline of 13.9% to $245.9 million for Q4 and a 26.7% drop for the year to $816.2 million. Despite challenges from the pandemic, the company achieved a 9.4% growth in digital revenue and made significant cost reductions exceeding $90 million. They generated $33.2 million in cash from operations and ended the year with $271.8 million in cash. The leadership expressed optimism about a recovery and potential for strategic growth moving forward.
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