Levin Scores President’s First Radio Interview Since Taking OfficeNEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NASDAQ: CMLS) Westwood One announced today that legendary talk radio host Mark Levin will interview President Donald J. Trump on “The Mark Levin Show” on Monday, February 10, 2025. This will be President Trump’s first radio interview since taking office in January. “The Mark Levin Show” airs from 6 to 9 p.m. ET each weekday on nearly 400 radio affiliates, in all ten top metro marke ...

2025 Marks Westwood One’s 52nd Super Bowl BroadcastKevin Harlan, Hall of Famer Kurt Warner, Gene Steratore, and Laura Okmin Call the Action Live from New OrleansScott Graham and Three-Time Super Bowl Champion Devin McCourty Anchor Pregame, Halftime, and Postgame CoverageWestwood One Will Air the Apple Music Super Bowl LIX Halftime Show for the First Time NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NASDAQ: CMLS) Westwood One, America’s largest audio network and the official audio partner o ...

NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NASDAQ:CMLS) Westwood One, America’s largest audio network and the official audio partner of the National Football League, will present live play-by-play coverage of NFL Championship Sunday, sponsored by Intuit TurboTax, on January 26th. In the first of two highly anticipated championship games, the Washington Commanders square off against the Philadelphia Eagles in Philadelphia, with Westwood One’s live coverage beginning at 2:00pm ET. The excite ...

Board Appointment - Steven M Galbraith appointed to Cumulus Media's Board of Directors [1] - Galbraith is a longtime shareholder and managing member of Kindred Capital Advisors LLC, one of the largest shareholders of Cumulus Media [2] - Galbraith brings extensive financial services experience including roles as Chief Investment Officer at Morgan Stanley and managing member of Herring Creek Capital [2] Professional Background - Galbraith has a strong investment management background with experience at Maverick Capital and as an Adjunct Professor at Columbia University Business School [2] - Previously served as advisor to the Office of Financial Research, an independent bureau reporting to the US Treasury [2] Non-Profit Involvement - Galbraith serves on boards of various non-profit organizations including Tufts University, National Constitution Center, and Success Academy Charter Schools [3] - Currently sits on boards of Third Way, Educational Equity Lab, and American Friends of Hebrew University Endowment [3] Company Overview - Cumulus Media is an audio-first media company reaching over 250 million people monthly [4] - Operates 400 radio stations across 84 markets and partners with major brands like NFL, NCAA, and AP News [4] - Westwood One, Cumulus' audio network, reaches over 9,800 affiliated stations nationwide [4] - Offers integrated digital marketing services, influencer partnerships, and live event experiences [4]

NEW YORK, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NASDAQ:CMLS) Westwood One, America’s largest audio network and the official audio partner of the National Football League, will present live play-by-play coverage of the NFL Divisional Round on Saturday, January 18th and Sunday, January 19th, sponsored by Intuit TurboTax. This season marks Westwood One’s 38th consecutive year as the official audio partner of the NFL. Westwood One kicks off the NFL Divisional Round on Saturday, January 18th, with ...

Westwood One, Official Audio Partner of the NFL, Delivers All the Action With Live Play-by-Play Coverage of All Six NFL Games on Saturday, January 11th, Sunday, January 12th, and Monday, January 13thNEW YORK, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NASDAQ:CMLS) Westwood One, America’s largest audio network and the official audio partner of the National Football League, will present live play-by-play coverage of NFL Wild Card Weekend on Saturday, January 11th, Sunday, January 12th, and Monday, Jan ...

“The Jim Rome Show” to be Exclusively Syndicated and Distributed by Westwood One During Coveted New Time Slot Jim Rome, Host of "The Jim Rome Show" Photo of Jim Rome, Host of "The Jim Rome Show", to be exclusively syndicated and distributed on Westwood One during coveted new time slot. Photo Credit: CBS Sports supplied image. NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Cumulus Media's Westwood One (NASDAQ: CMLS) and Jim Rome continue to be at the forefront of the evolution and growth of live sports conte ...

Core Points - Cumulus Media has launched a new podcast series titled "Liberty and Learning with Mark Levin and Larry Arnn," which consists of 10 episodes focusing on the founding principles of the U.S. [1] - The podcast aims to address current crises in America through discussions on constitutional government and pressing national issues such as education, borders, and citizenship [2][4] Company Overview - Cumulus Media is an audio-first media company that reaches over a quarter billion people monthly through various platforms, including 400 radio stations and a growing podcast network [10] - The company produces and distributes several popular programs, including "The Mark Levin Show," and is known for its extensive reach in both local and national markets [10] Podcast Details - The podcast is hosted by Mark Levin, a prominent conservative commentator and constitutional scholar, alongside Dr. Larry Arnn, President of Hillsdale College [4][5] - The series is available on major podcast platforms and aims to engage listeners with informative and entertaining content [3][4]

Financial Data and Key Metrics Changes - In Q3 2024, the company reported revenue of $203.6 million and EBITDA of $24.1 million, aligning with analyst estimates [5][26] - Digital revenue accounted for 20% of total revenue, growing 8% year-over-year, with digital marketing services (DMS) increasing nearly 40% year-over-year [6][27] - Total expenses decreased by approximately $1 million year-over-year, reflecting ongoing cost reductions [30] Business Line Data and Key Metrics Changes - DMS revenue growth accelerated to approximately 40% year-over-year, marking the largest dollar increase in this segment [27] - Streaming revenue increased slightly, while podcasting revenue experienced a modest decrease, primarily due to declining revenue from the Daily Wire podcast [11][12] - The broadcast radio business saw a 5% revenue increase in the network segment, driven by robust demand for live sports [14] Market Data and Key Metrics Changes - Political revenue in Q3 was $4.4 million, down from $5.8 million in 2020 and $4.5 million in 2022, impacted by changes in the Democratic presidential candidate [29] - National advertising sentiment remains weak, with lower spending observed in local, automotive, professional services, and entertainment categories [17] Company Strategy and Development Direction - The company is focused on investing in digital growth, optimizing political spend, and driving cost efficiencies [5] - There is a commitment to capital allocation prioritizing organic growth in digital businesses rather than pursuing non-accretive M&A [23] - The company is leveraging AI for efficiencies across various business facets, including sales lead generation and marketing content development [22][21] Management's Comments on Operating Environment and Future Outlook - Management noted that many advertisers are cautious due to economic and interest rate concerns, impacting their spending [17][38] - The company expects political spending to rebound in Q4, with current bookings at approximately $9.7 million [19] - Management remains optimistic about the DMS business and overall digital growth prospects [10][24] Other Important Information - The company has achieved $8 million in cost reductions year-to-date, building on $120 million in fixed cost reductions from 2019 to 2023 [30] - The balance sheet at the end of the quarter showed $52.2 million in cash and gross debt of $642.1 million [31] Q&A Session Summary Question: What additional services are driving revenue growth in marketing services? - Management highlighted a robust suite of campaign products and integrated presence products, including listings, reputation management, website development, and SEO [33] Question: Is there potential upside in political revenue? - Management indicated that the fourth quarter is tracking close to expectations, with potential for additional revenue from political ads as the election approaches [36] Question: What are the expectations for advertising spend post-election? - Management noted that advertisers are waiting to see how the economy settles after the election and are cautious due to perceived clutter from political ads [38] Question: How is the network business performing heading into the sports season? - Management reported benefits from airing summer games and NFL scheduling, with expectations for continued strong interest in sports [40] Question: What impact do interest rates have on advertising spend? - Management explained that lower interest rates and inflation outlook are crucial for improving advertising sentiment across various categories [44]

Company Performance - Cumulus Media reported a quarterly loss of $0.61 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.54, and a significant decline from earnings of $0.16 per share a year ago, resulting in an earnings surprise of -12.96% [1] - The company posted revenues of $203.6 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.22%, and down from $207.42 million in the same quarter last year [2] - Over the last four quarters, Cumulus has surpassed consensus EPS estimates only once and has also topped consensus revenue estimates just once [2] Stock Performance - Cumulus shares have declined approximately 78% since the beginning of the year, contrasting sharply with the S&P 500's gain of 19.6% [3] - The current Zacks Rank for Cumulus is 4 (Sell), indicating expectations for the stock to underperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.36 on revenues of $224.85 million, and for the current fiscal year, it is -$3.38 on revenues of $833.85 million [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which could impact future stock performance [6] Industry Context - The Broadcast Radio and Television industry, to which Cumulus belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, suggesting a challenging environment for the company [8] - Another company in the same industry, Beasley Broadcast Group, is expected to report break-even quarterly earnings, indicating a year-over-year change of -100%, with revenues projected at $61.1 million, up 1.6% from the previous year [9]