ATLANTA, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (OTCQB: CMLS) today announced the appointment of Carol Flaton to its Board of Directors. Flaton’s appointment follows the resignation of Joan Hogan Gillman from the Board. Both changes are effective January 15, 2026. "We are pleased to welcome Carol to our board," said Chairman Andrew W. Hobson. “She brings more than three decades of experience in financial services and governance, along with a strong track record of advising companies and servin ...

Core Insights - The partnership between Barbasol and Westwood One celebrates its 20th anniversary, highlighting a rare example of longevity and trust in sports media sponsorships [1][2][3] Partnership Overview - Since its inception in 2006, Barbasol and Westwood One have developed a unique collaboration, combining Barbasol's brand authenticity with Westwood One's respected audio coverage of the NFL [2] - The partnership has endured various challenges, including changes in media landscapes and the retirement cycles of prominent NFL players [3] Community Impact - The Barbasol-Westwood One relationship has led to significant community contributions, including donations to the Boomer Esiason Foundation for cystic fibrosis research and support for the Kurt and Brenda Warner's Treasure House for adults with disabilities [8] Future Outlook - As the NFL audio landscape evolves, Barbasol and Westwood One plan to continue their partnership with innovative fan engagement strategies and community initiatives [5]

Core Insights - iHeartMedia and TikTok have formed a groundbreaking multiplatform partnership to integrate TikTok creators into iHeart's ecosystem, launching the TikTok Podcast Network with up to 25 new podcasts [1][2][3] - The partnership aims to enhance creator engagement and expand their storytelling capabilities across various platforms, combining TikTok's cultural energy with iHeartMedia's extensive reach [2][3] Partnership Details - The TikTok Podcast Network will feature podcasts hosted by TikTok creators, supported by new co-branded podcast studios in Los Angeles, New York, and Atlanta, equipped with advanced audio and video infrastructure [3] - TikTok Radio will be launched, pairing TikTok creators with experienced iHeartRadio personalities, providing a unique audio experience that mirrors the TikTok scrolling experience [3] - iHeartMedia and TikTok will collaborate on live events, offering creators access to major events like the iHeartRadio Music Festival and Jingle Ball, enhancing brand activation opportunities [3][4] Marketing and Sponsorship - The partnership will leverage both companies' marketing capabilities to drive sponsorships and create new business opportunities for creators and their shows [5] - Mass-reach marketing strategies will be implemented across both platforms to maximize audience engagement and sponsorship potential [5]

Core Insights - Chris Van Vliet's podcast "Insight" is joining the Cumulus Podcast Network, enhancing its distribution and monetization capabilities [1][4] - The podcast has become a leading platform in professional wrestling media, driven by the industry's mainstream success and significant audience engagement [2][4] Company Overview - Cumulus Media is a major audio-first media company, reaching a quarter billion people monthly through various platforms, including 399 radio stations and the Cumulus Podcast Network [6] - The Cumulus Podcast Network aims to deliver premium content and has a strong focus on original podcasts that are engaging and thought-provoking [6] Industry Context - Professional wrestling is experiencing unprecedented success, with billion-dollar streaming deals and record viewership for major brands like WWE and AEW [2] - The partnership with Cumulus is expected to leverage the growing interest in wrestling content, providing fans with exclusive live events and bonus content [4][5]

Core Insights - Cumulus Media reported a challenging advertising environment but managed to gain market share in both broadcast and digital segments, with digital marketing services revenue increasing by 34% in Q3 2025 [2][4] - The company achieved a net revenue of $180.3 million for Q3 2025, a decrease of 11.5% year-over-year, and a net loss of $20.4 million [4][6] - For the nine months ended September 30, 2025, net revenue was $553.6 million, down 9.0% from the same period in 2024, with a net loss of $65.6 million [5][8] Financial Performance - Q3 2025 net revenue was $180.3 million, down from $203.6 million in Q3 2024, reflecting an 11.5% decline [4][6] - The net loss for Q3 2025 was $20.4 million compared to a net loss of $10.3 million in Q3 2024, marking a 97.7% increase in losses [6][7] - Adjusted EBITDA for Q3 2025 was $16.7 million, down 30.8% from $24.1 million in Q3 2024 [4][6] Revenue Breakdown - Total broadcast radio revenue for Q3 2025 was $115.0 million, a decrease of 17.2% from $139.0 million in Q3 2024 [9] - Digital revenue for Q3 2025 was $39.0 million, down 2.6% year-over-year, but increased by 8.4% when excluding the impact of discontinued relationships [7][9] - Digital marketing services now account for approximately 50% of total digital revenue, reflecting strong growth in this segment [7] Cost Management - The company has successfully reduced annualized fixed costs by $7 million in Q3 2025, bringing total year-to-date savings to $20 million [2][7] - Since 2019, total annualized fixed cost reductions have reached $182 million, representing over 30% [7] Balance Sheet and Debt - As of September 30, 2025, Cumulus Media had cash and cash equivalents of $90.4 million and total debt of $722.2 million [10][27] - The total debt at maturity was reported at $697.1 million, with net debt less total unamortized discount at $606.7 million [10][27]

Core Insights - Cumulus Media's Westwood One has appointed Armen Williams as Executive Director of Westwood One Sports 24/7 Programming, effective November 3, 2025, to lead the development of new sports content [1][2] Company Overview - Cumulus Media is an audio-first media company reaching a quarter billion people monthly through 395 radio stations across 84 markets, offering a variety of programming including sports, news, and entertainment [5] - Westwood One Sports is the exclusive network radio partner to the NFL since 1987 and covers major sports events such as NCAA Basketball, U.S. Soccer, and The Masters [6] Leadership and Strategy - Armen Williams brings over 20 years of audio programming experience and has previously held leadership roles at Audacy, Bonneville, and Townsquare, focusing on innovative content strategies and brand presence [3] - Williams will oversee sports talk content, technical operations, social media strategy, and brand management, aiming to create compelling on-air programming with original content and fan interaction [2][4] Future Vision - Williams expressed excitement about the opportunity to build on the foundation created by partners like Audacy and BetMGM, aiming to deliver engaging and authentic sports content [4] - Bruce Gilbert, SVP of Sports / Content & Audience, emphasized Williams' vision as essential for launching a first-class all-sports network at Westwood One [4]

Core Viewpoint - NBCUniversal has renewed its exclusive audio partnership with iHeartMedia for the Milan Cortina 2026 Olympic Winter Games, enhancing audio coverage and promoting engagement through various platforms [1][2]. Partnership Details - iHeartMedia will provide 24/7 play-by-play audio channels of NBCUniversal's linear coverage of the Games, including a new season of the iHeartPodcast "Two Guys, Five Rings" hosted by Bowen Yang and Matt Rogers [1][3]. - The partnership aims to deliver premium audio content, allowing fans to access Olympic coverage away from traditional screens [2][3]. Content and Coverage - iHeartPodcasts will produce Olympic-themed episodes for popular podcasts such as "Stuff You Missed in History Class" and "Revisionist History" [4]. - NBCUniversal's coverage will focus on various sports, including U.S. team ice hockey, figure skating, speed skating, skiing, and snowboarding [2][3]. Event Information - The Milan Cortina 2026 Olympic Winter Games will take place from February 6 to February 22, 2026, marking the second time Cortina has hosted the Olympics [5][6]. - NBCUniversal holds the U.S. media rights to the Olympic Games through 2036, covering multiple upcoming events in various locations [7]. Company Background - NBCUniversal is a leading media and entertainment company, operating a diverse portfolio that includes film, television, and streaming services [8]. - iHeartMedia is the largest audio media company in America, with a significant audience reach across broadcast radio and podcasts [9].

Core Insights - Cumulus Media's Westwood One has partnered with Vernon Davis to launch "The Next Role," a podcast focusing on career transitions and reinvention [1][4] - The podcast features storytelling and conversations with various guests, including athletes and entertainers, discussing their journeys and the challenges of redefining their careers [2][3] - New episodes will be released weekly on Thursdays and will be available on major podcast platforms [4] Company Overview - Cumulus Media is an audio-first media company reaching a quarter billion people monthly through 399 radio stations and a large podcast network [7][8] - The company provides a range of content including sports, news, and entertainment, and offers advertisers extensive reach through various platforms [7][8] Podcast Details - "The Next Role" aims to inspire listeners by sharing powerful stories of reinvention from notable figures [5] - The podcast is produced by Real 85 Productions, with Vernon Davis as the executive producer alongside other industry professionals [5][6]

Core Insights - Cumulus Media's Westwood One has added the podcast "Family Matters," hosted by CJ Pearson, to its network, focusing on conservative perspectives within the Black community [1][4] - The podcast aims to address significant social, cultural, and political issues in America, featuring discussions on hot-button topics from a conservative viewpoint [2][4] Company Overview - Cumulus Media is an audio-first media company that reaches a quarter billion people monthly through various platforms, including 399 radio stations and the Cumulus Podcast Network [9][12] - The Cumulus Podcast Network is dedicated to distributing, marketing, and monetizing original podcasts, enhancing its portfolio with the addition of "Family Matters" [4][9] Podcast Details - The first episode of "Family Matters" features notable guests, including former Biden White House official Yemisi Egbewole and conservative activist Michaelah Montgomery [3] - New episodes of the podcast will be released weekly on Wednesdays and will be available on major platforms like YouTube and Apple Podcasts [4] Host Background - CJ Pearson is a recognized conservative commentator and political strategist, known for mobilizing young conservatives during the 2024 election and gaining significant influence in American politics [7][8] - Pearson's recent activities include organizing events that have garnered both criticism and praise, highlighting his impact within the conservative movement [7]

Core Insights - Cumulus Media reported a challenging advertising environment for legacy media but managed to outperform radio peers, gaining market share across all broadcast spot revenue channels and achieving a 38% year-over-year increase in digital marketing services [2][4][7] - The company executed $5 million in annualized cost reductions, totaling $175 million over the last five years, indicating a disciplined focus on optimizing performance despite capital constraints [2][4][7] - The financial results for Q2 2025 showed a net revenue of $186.0 million, a decrease of 9.2% year-over-year, with a net loss of $12.8 million, which is an improvement from a net loss of $27.7 million in Q2 2024 [4][6][7] Financial Performance - For the three months ended June 30, 2025, Cumulus Media reported net revenue of $186.0 million, down 9.2% from $204.8 million in the same period of 2024, with an Adjusted EBITDA of $22.4 million, a decrease of 11.3% year-over-year [4][6][9] - For the six months ended June 30, 2025, net revenue was $373.4 million, a decline of 7.8% from $404.9 million in the same period of 2024, with an Adjusted EBITDA of $25.9 million, down 23.0% year-over-year [5][8][28] - Digital revenue for Q2 2025 was $38.8 million, a decrease of 1.4% year-over-year, but a 20% increase when excluding the impact from discontinued relationships [7][9] Revenue Breakdown - In Q2 2025, total broadcast radio revenue was $118.4 million, down 13.0% from $136.1 million in Q2 2024, with spot revenue decreasing by 10.5% and network revenue decreasing by 20.5% [9][28] - For the six months ended June 30, 2025, total broadcast radio revenue was $243.3 million, a decline of 11.8% from $275.8 million in the same period of 2024 [8][28] Balance Sheet and Debt - As of June 30, 2025, Cumulus Media had cash and cash equivalents of $96.7 million, reflecting a $55.0 million draw on the revolving credit facility, with total debt reported at $723.7 million [7][10][28] - The company reported net debt less total unamortized discount of $600.4 million, indicating a focus on managing leverage and evaluating the balance sheet [7][28]