Rafael Hernández Brito, Greivis Vásquez, and Carlos Morales Call the Action Broadcasts Presented by Werner Ladder NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NSDQ: CMLS) Westwood One will provide exclusive audio coverage of the NCAA Men’s Final Four and national championship game in Spanish for the eighth consecutive tournament, presented by Werner Ladder, the official ladder of the NCAA Men’s and Women’s Basketball Championships. Westwood One’s Spanish-language broadcasts will kick off ...

Westwood One's Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium  Network's Coverage Includes the Men's Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One's Women's Final Four Coverage is Presented by Intuit TurboT ...

Westwood One’s Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium Network’s Coverage Includes the Men’s Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One’s Women’s Final Four Coverage is Presented by Intuit TurboT ...

Core Points - Westwood One, a subsidiary of Cumulus Media, will provide comprehensive coverage of the NCAA Division I Men's Basketball Championship across multiple platforms, including radio, online streaming, and mobile apps [1][2][8] - The coverage will include live Spanish-language broadcasts of the Final Four and National Championship games, marking the seventh consecutive year for such broadcasts [5][8] - A notable broadcast team will be in place, featuring Kevin Kugler, Robbie Hummel, and P.J. Carlesimo for English coverage, along with a variety of renowned commentators and analysts [3][4] Coverage Details - The NCAA tournament coverage will be available on over 500 radio stations, SiriusXM, and various online platforms, including NCAA.com and the Westwood One Sports app [1][2] - The complete schedule includes key dates such as the First Four on March 18, the Final Four on April 5, and the National Championship on April 7 [6][11] - Fans can access broadcasts through Alexa-enabled devices and TuneIn Premium, ensuring widespread availability [2][8] Broadcast Team - The English broadcast team will include Kevin Kugler, Robbie Hummel, and P.J. Carlesimo, with Andy Katz serving as a courtside reporter [3][4] - The Spanish-language broadcasts will feature Rafael Hernandez Brito as the play-by-play announcer and Greivis Vásquez as the analyst [5] Programming - Westwood One will produce hour-long college basketball programs leading up to each day's coverage, enhancing the overall viewing experience for fans [6][8] - The network's extensive sports portfolio includes partnerships with the NFL and NCAA, showcasing its strength in sports broadcasting [8][9]

Core Points - Westwood One, a subsidiary of Cumulus Media, will provide comprehensive coverage of the NCAA Division I Men's Basketball Championship across multiple platforms, including radio, online streaming, and mobile apps [1][2][8] - The coverage will include live Spanish-language broadcasts of the Final Four and National Championship games, marking the seventh consecutive year for such broadcasts [5][8] - A diverse and experienced broadcast team will be involved, featuring well-known commentators and analysts, ensuring high-quality coverage of the tournament [3][4] Company Overview - Cumulus Media operates over 400 radio stations across 84 markets and delivers content to over a quarter billion people monthly, making it a significant player in the audio media industry [9] - Westwood One is recognized as the largest audio network in the U.S., providing national sports, news, and entertainment programming, including exclusive partnerships with major sports leagues [8][9] - The NCAA, with over 1,100 member institutions, focuses on creating opportunities for student-athletes and is supported by various corporate partners, enhancing its visibility and reach [10]

Core Points - Cumulus Media's Westwood One will broadcast 19 NCAA Men's and Women's Basketball games during Conference Championship Week from March 8 to March 16, 2025 [1][2][3] Group 1: Broadcast Schedule - The postseason basketball coverage begins on March 8 with the Ohio Valley Conference Championship game and continues through Selection Sunday on March 16 [2][4] - Championship games include various conferences such as Big East, CAA, Conference USA, Patriot League, MVC, Big South, SoCon, America East, and WCC for men's games, and Big East and Ivy League for women's games [3][4] Group 2: Selection Sunday - Selection Sunday will reveal the 68-team field for both men's and women's tournaments, hosted by Jason Horowitz with analysts PJ Carlesimo and Debbie Antonelli [2][4] Group 3: Company Overview - Westwood One is the largest audio network in America and has been the exclusive network radio partner to the NFL since 1987, covering various major sports events including NCAA Basketball and The Masters [5] - Cumulus Media, the parent company, delivers content to a quarter billion people monthly through 400 radio stations and over 9,500 affiliated stations, providing a wide range of programming and advertising solutions [6]

Core Points - Cumulus Media's Westwood One will broadcast a total of 19 NCAA Men's and Women's Basketball games during Conference Championship Week [1] - The postseason basketball coverage begins on March 8 and continues through Selection Sunday on March 16 [2] - Westwood One will also cover the Selection Sunday event, revealing the 68-team field for both men's and women's tournaments [2] Broadcast Schedule - March 8: Ohio Valley Conference Men's Championship at 8:45 PM ET [4] - March 9: Big South Conference Men's Championship at 11:45 AM ET and Missouri Valley Conference Men's Championship at 2:00 PM ET [4] - March 10: Southern Conference Men's Championship at 6:45 PM ET and Big East Women's Championship at 6:45 PM ET [4] - March 11: CAA Men's Championship at 6:45 PM ET and West Coast Conference Men's Championship at 8:45 PM ET [4] - March 12: Patriot League Men's Championship at 6:45 PM ET [4] - March 14: Big East Semifinal Men's Doubleheader at 6:15 PM ET [4] - March 15: Multiple championships including America East Men's Championship at 10:45 AM ET and SEC Semifinal Men's Doubleheader at 12:45 PM ET [4] - March 16: Ivy League Men's Championship at 11:45 AM ET, SEC Men's Championship at 12:45 PM ET, American Athletic Conference Men's Championship at 3:00 PM ET, and Selection Sunday at 6:00 PM ET [4] About Westwood One Sports - Westwood One is the exclusive network radio partner to the NFL since 1987 and covers various sports events including NCAA Basketball, The Masters, and U.S. Soccer Federation [5] - The network is known for its exciting sports broadcasts and extensive properties in sports media [5] About Cumulus Media - Cumulus Media is an audio-first media company reaching a quarter billion people monthly through 400 radio stations across 85 markets [7] - The company provides a range of programming including sports, news, and entertainment, and offers advertisers local and national advertising performance guarantees [7]

Core Points - Cumulus Media is set to launch The VINCE Show and VINCE podcast on March 17, hosted by Vince Coglianese, a prominent conservative radio host [2][3] - The show will be syndicated by Westwood One and will air weekdays from 12 to 3 p.m. ET, with a one-hour podcast available prior on weekday mornings [2][4] - The VINCE Show will have over 250 affiliates, including major stations in top markets such as Los Angeles, Chicago, and Washington, DC [4] Company Overview - Cumulus Media operates 400 radio stations across 84 markets and delivers content to a quarter billion people monthly [7] - The company is known for its high-quality local programming and nationally-syndicated content, including sports, news, and entertainment [7] - Cumulus Podcast Network is part of its strategy to engage listeners with original podcasts [7] Production and Distribution - Silverloch Productions, founded by Dan and Paula Bongino, will produce the VINCE podcast, which will be distributed by the Cumulus Podcast Network [2][4] - The podcast will be available on major platforms and Rumble, expanding its reach [6] Host Background - Vince Coglianese has nearly two decades of experience in conservative journalism and broadcasting, previously achieving high ratings at WMAL [5] - He is recognized as a significant voice in conservative media and has been featured in Talkers Magazine's "Heavy Hundred" list [5] Strategic Importance - The addition of The VINCE Show is seen as a move to enhance Westwood One's conservative talk lineup, promising fresh perspectives and engaging discussions [5][4] - The collaboration aims to attract a vibrant community of informed listeners and elevate the quality of conservative talk radio [3][5]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 decreased by 1.2%, with full-year revenue down 2.1% [33][37] - EBITDA for Q4 was $25 million, while full-year EBITDA finished at $82.7 million [33][37] - Digital revenue grew by 5% year-over-year, with digital marketing services (DMS) increasing by 27% for the year [37] Business Line Data and Key Metrics Changes - Digital marketing services accounted for approximately 19% of total company revenue, with a 27% year-over-year revenue increase [13][37] - Podcast revenue was down slightly in 2024, but excluding the Daily Wire, it was up over 35% [18][20] - Streaming revenue decreased by 4% due to a difficult comparison from a fixed-rate sales contract expiration [22] Market Data and Key Metrics Changes - Political advertising contributed approximately $19 million during the year, but local broadcast advertising faced significant headwinds [23][24] - The Beyond Home Market (BHM) business grew by 35% year-over-year, indicating resilience in local advertising [25] Company Strategy and Development Direction - The company is focused on transforming its business model by leveraging key assets and investing in digital growth [10][12] - Cost reductions have been a priority, with $35 million in annualized net cost reductions achieved in Q4 2024 [27] - The company aims to reduce net debt and maintain financial flexibility through asset monetization and operational efficiency [29][28] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing challenges in the advertising environment due to macroeconomic factors, but expressed optimism about digital marketing services growth [26][31] - The company anticipates continued revenue pressure in Q1 2025, pacing down mid-single digits, but expects DMS growth to remain robust [26][39] Other Important Information - The company completed a refinancing of its debt, extending maturities to 2029, which provides additional financial flexibility [28][29] - The Board decided not to renew the shareholder rights plan, indicating confidence in the company's current position [30][102] Q&A Session Summary Question: What is needed to turn around national advertising? - Management indicated that improvements in the macro environment would help national advertising recover, particularly for Westwood One, which has been significantly impacted [45][46] Question: Are there specific ad categories tied to interest rates affecting the broadcast spot side? - Management confirmed a broad-based decline in advertising, with sectors like automotive and mortgage products being particularly affected by economic conditions [52][53] Question: What margins are being achieved in the DMS segment? - The unit contribution margins for DMS are approximately 35%, with investments focused on sales and fulfillment to drive growth [57][58] Question: What are the prospects for monetizing non-core assets to accelerate debt pay down? - Management mentioned potential asset sales, including land in Nashville, to help reduce debt [61][62] Question: What is the company's perspective on deregulation in the media space? - Management supports deregulation and believes it could lead to increased opportunities for growth and consolidation within the industry [83][84]

Financial Performance - Cumulus Media reported a quarterly loss of $0.39 per share, better than the Zacks Consensus Estimate of a loss of $0.58, and a significant improvement from a loss of $2.60 per share a year ago, representing an earnings surprise of 32.76% [1] - The company posted revenues of $218.58 million for the quarter ended December 2024, slightly missing the Zacks Consensus Estimate by 0.10%, and down from $221.3 million year-over-year [2] - Over the last four quarters, Cumulus has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] Stock Performance - Cumulus shares have increased approximately 34.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$1.17 on revenues of $199.2 million, and for the current fiscal year, it is -$3.24 on revenues of $816 million [7] Industry Outlook - The Broadcast Radio and Television industry, to which Cumulus belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Cumulus's stock performance [5][6]