• Westwood One to Offer Football Fans Prime Time Action, With Expanded Pregame Shows for Monday Night Football, Weekday Specialty Programs, and More  • New Westwood One Sports Brand Site and App Make Accessing the Best in NFL Audio Coverage Easier This Season      NEW YORK, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s Westwood One (OTCQB: CMLS), the largest audio network in the U.S. and the official network audio broadcast partner of the NFL, announces its 2025 NFL Season programming lineup, as it cel ...

Financial Data and Key Metrics Changes - Consolidated net revenue for the quarter was approximately $91.6 million, down 22.2% year over year [8] - Net loss was approximately $77.9 million or $1.74 per share, compared to a net loss of $45.4 million or $0.94 per share for the previous year [18] - Consolidated adjusted EBITDA was $14 million for the second quarter, down 51.7% [15] Business Line Data and Key Metrics Changes - Radio Broadcast segment net revenue was $36.7 million, a decrease of 12.6% year on year [8] - Reach Media segment net revenue was $5.3 million, down 71.9% from the prior year [10] - Digital segment revenues were down 27.1% at $10.3 million, impacted by the loss of an exclusive third-party audio streaming deal [11] - Cable Television segment revenue was approximately $40.1 million, a decrease of 7.5% [12] Market Data and Key Metrics Changes - Local advertising sales were down 5.6% against a market that was down 11% [9] - National ad sales were down 23.6% against a market that was down 13.1% [9] - Cable subscribers for TV One decreased to 34.3 million from 35.6 million at the end of Q1 [12] Company Strategy and Development Direction - The company revised its full-year guidance down from $75 million to $60 million due to headwinds [6] - Management is focused on cost cuts and rightsizing, with plans to implement changes by the end of Q3 [6][7] - The company is prioritizing debt reduction and expense management, with a focus on maintaining cash flow [27] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a tough quarter but noted that the TV business is performing better than originally budgeted [5][6] - The company is experiencing significant headwinds in radio and digital businesses, particularly in national advertising [7][40] - Management indicated that the decline in revenue is partly due to the pullback in DEI dollars and the impact of AI on marketing strategies [40][43] Other Important Information - The company repurchased $64 million of its 2028 notes, reducing overall debt balances [17] - Total gross debt was approximately $492.3 million, with unrestricted cash of $85.7 million, resulting in a net leverage ratio of 5.14x [18] Q&A Session Summary Question: Are the improved EBITDA margins in the cable TV segment due to cost-cutting initiatives? - Management indicated that the margin improvement is primarily a timing issue rather than a direct result of cost cuts [20][21] Question: What should be expected from the second round of cost cuts? - Management stated that the impact of the second round of cost cuts will likely be seen in 2026, and they are still in the process of determining the specifics [22][23] Question: How is the company approaching debt buybacks given the recent bond price increases? - Management confirmed that their focus remains on debt reduction and expense management, with no immediate plans for further debt buybacks [26][27] Question: Will the reduction in sales and marketing expenses be the new normal? - Management noted that while there is a timing difference affecting expenses, they are tightening their belts and do not expect a major rebound in those costs [34][35] Question: What is the status of the company's available credit line? - Management confirmed that the credit line is fully available and they are in compliance with the maintenance covenant [44][45]

Core Viewpoint - Beasley Broadcast Group reported a decline in net revenue and operating income for the second quarter of 2025, primarily due to softness in the traditional audio advertising market, although there was growth in high-margin digital revenue [3][4][7]. Financial Performance - Net revenue for the three months ended June 30, 2025, was $53.0 million, a decrease of 12.3% from $60.4 million in the same period of 2024 [2][3]. - Operating income was $2.9 million, down from $5.4 million year-over-year, attributed to a $7.4 million decline in net revenue [4][5]. - The company reported a net loss of approximately $0.2 million, or $0.09 per diluted share, compared to a net loss of $0.3 million, or $0.18 per diluted share, in the prior year [5][23]. - Adjusted EBITDA was $4.7 million, down from $8.8 million in the second quarter of 2024 [6][23]. Revenue Breakdown - Digital revenue increased by 1.3% year-over-year to $13.2 million, accounting for 25% of total revenue [8][9]. - Local revenue, including digital packages sold locally, represented 76% of net revenue [8]. - Revenue from new business accounted for 14% of net revenue, down from 17% in Q2 2024 [8]. Strategic Focus - The company is shifting focus from agency-driven business to more scalable and profitable direct revenue streams, emphasizing high-margin digital offerings [3][7]. - Management highlighted the importance of disciplined capital and cost management while investing in differentiated content and digital infrastructure [7][9]. Operational Changes - Beasley announced the pending sales of WPBB in Tampa and five stations in Ft. Myers as part of efforts to streamline its portfolio [9]. - The digital segment operating margin was reported at 27% [8]. Market Context - The decline in revenue reflects ongoing challenges in the traditional audio advertising market, which has been impacted by broader economic conditions [3][4].

GROSSE POINTE FARMS, Mich., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the "Company" or "Saga") today reported that net revenue decreased 5.0% to $28.2 million for the quarter ended June 30, 2025 compared to $29.7 million for the same period last year. Station operating expense decreased 4.6% for the quarter to $22.2 million compared to the same period last year. For the quarter, operating income was $1.4 million compared to $2.1 million for the same quarter last year and st ...

PURCHASE, N,Y., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Townsquare Media, Inc. (NYSE: TSQ) ("Townsquare" or the "Company"), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Renda Media, a local media company with a strong presence in six U.S. cities (including Ft. Myers/Naples, FL; Jacksonville, FL; Pittsburgh, PA; Indiana, PA; Greensburg, PA; and Punxsutawney, PA) that do not ove ...

Audacy and iHeartMedia, the two largest US radio broadcasters, are teaming up in a program distribution deal designed to reach more listeners and better compete with streaming leader Spotify https://t.co/uB9Ic45OMt ...

Group 1 - Cumulus Media's Westwood One is the official audio broadcast partner for the NCAA Men's College World Series, providing coverage of the Championship Finals live from Omaha, Nebraska [1] - The Championship series will begin on June 21, 2025, with a best-of-three format [7] - Coverage will be available on terrestrial radio, SiriusXM, and streamed online for free at NCAA.com/MCWS and westwoodonesports.com [4] Group 2 - The broadcast team includes Kevin Kugler, Scott Graham, and field reporter Connor Happer for the Championship series [2] - Preliminary games will be conducted in a double elimination format, leading to the Championship Finals [3] - A complete schedule of the 2025 NCAA Men's College World Series is provided, detailing game times and matchups [5][6] Group 3 - Westwood One Sports is known for its extensive sports broadcasts, including partnerships with the NFL and NCAA [9] - Cumulus Media operates over 400 radio stations and delivers content to over a quarter billion people monthly [10] - The NCAA supports over 1,100 member colleges and universities, providing opportunities for nearly half a million student-athletes [11]

Core Points - Cumulus Media's Westwood One is the official audio broadcast partner for the NCAA Division I Women's College World Series, providing comprehensive coverage of the event [1][7] - The broadcasts will be available across multiple platforms, including terrestrial radio, SiriusXM, and online streaming [2][8] - A notable broadcast team will cover the games, featuring experienced announcers and analysts [3][6] Company Overview - Cumulus Media operates over 400 radio stations and delivers content to over a quarter billion people monthly, focusing on high-quality local programming and national syndication [8] - Westwood One is recognized as the largest audio network in the U.S., partnering with major sports events and providing extensive sports coverage [7][8] Event Schedule - The NCAA Women's College World Series will commence on May 29, 2025, with a detailed schedule of games outlined, including double elimination rounds and championship finals [4][5][6]

Financial Data and Key Metrics Changes - Consolidated net revenue was approximately $92.2 million, down 11.7% year over year [10] - Adjusted EBITDA was approximately $12.9 million, down 42.2% [15] - Net loss was approximately $11.7 million or $0.26 per share, compared to net income of $7.5 million or $0.15 per share for the same quarter last year [17] Business Line Data and Key Metrics Changes - Radio Broadcasting segment net revenue was $32.6 million, a decrease of 10.3% year over year [10] - Media segment net revenue was $5.9 million, down 30.9% from the prior year, with an adjusted EBITDA loss of $600,000 [12] - Cable Television segment revenue was $44.2 million, a decrease of 7.9%, with advertising revenue down 6.3% [13] Market Data and Key Metrics Changes - Local ad sales were down 12.8% against markets that were down 13.2% [10] - National ad sales were down 14.6% against markets being down 11.6% [10] - Cable subscribers for TV One decreased to 35.6 million from 37.2 million at the end of Q4 [13] Company Strategy and Development Direction - The company is focused on cost controls, managing leverage, and maintaining a strong liquidity position [6][8] - Plans to invest in new distribution opportunities in the FAST and AVOD environment rather than just increasing content spending [81] - The company aims to improve local digital efforts, which currently contribute low single digits to revenue compared to competitors [58] Management's Comments on Operating Environment and Future Outlook - Management indicated that radio pacing has weakened, down about 9% [5] - The expectation is that the majority of EBITDA will come in the second half of 2025, with Q2 expected to be similarly weak as Q1 [28][31] - Management does not foresee a positive rebound in advertising this year due to ongoing uncertainties [45] Other Important Information - The company repurchased $28.2 million of its 2028 notes at an average price of 58% of par [16] - Total gross debt was approximately $556.3 million, with unrestricted cash of $115.1 million, resulting in a net debt of approximately $441.3 million [18] Q&A Session Summary Question: What other levers can be pulled to control costs? - Management mentioned ongoing cost-cutting measures and plans to identify further opportunities by mid-year [23][24] Question: Is the majority of EBITDA expected in the second half of 2025? - Yes, more than half is expected to come in the second half of the year [28][29] Question: Should further debt repurchases be expected? - Management indicated a deliberate and opportunistic approach to debt repurchases, suggesting that they will continue as conditions allow [32][34] Question: How is the local SMB advertising environment compared to national? - Local advertising is down low single digits, which is better than national advertising, which is experiencing more significant declines [51][53] Question: Can you break out cable TV revenue between carriage fees and advertising? - Management confirmed that this information is available in the press release [65] Question: What is the renewal schedule with large cable and MVPDs? - Charter, Verizon, and NCTC contracts are up this year, with Comcast and AT&T renewals next year [68][70] Question: How are TV One ratings performing? - Ratings have stabilized and are exceeding budgeted numbers year to date [73] Question: Is programming spend steady or growing? - Programming spend is down about 10%, with no major plans to increase it significantly [75][79]

Financial Data and Key Metrics Changes - For the quarter ended March 31, 2025, net revenue decreased by 4.3% to $24.2 million compared to $25.3 million last year [12] - Station operating expense decreased by 2.2% to $22 million for the three-month period [13] - The company reported a net loss of $1.6 million for the quarter, approximately the same as last year [13] - Total interactive revenue was up 14% with a 51% profit margin [15] Business Line Data and Key Metrics Changes - The top three largest advertising verticals were home improvement, professional services, and automotive [9] - The top three fastest growing advertising verticals were home improvement, health care, and real estate [9] - Digital ad revenue for 2025 reached $5.3 million as of May 8, 2025, compared to $5 million for all of 2024 [10] - The online news initiative revenue almost doubled from $285,000 in Q1 2024 to $562,000 in Q1 2025 [15] Market Data and Key Metrics Changes - The company experienced four straight months of significant growth in digital ad revenue from February through May [11] - April showed a decline in pacing down high single digits, but May showed improvement to down low single digits [16] Company Strategy and Development Direction - The company is focused on a digital strategy that blends radio, search, and display advertising [8] - Plans to use proceeds from potential sales of non-core assets for stock buybacks as part of capital allocation [18] - The company aims to capture 5% of available digital dollars in its markets over the next 18 to 24 months to potentially double gross total annual revenue [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the potential ripple effect of tariffs on advertising spend but noted no significant impact observed yet [33] - The company expects to see improvement in pacing for the second quarter, with interactive pacing up 18.4% [16] - The management expressed confidence in the digital strategy and its ability to meet consumer needs in a fragmented advertising marketplace [21][24] Other Important Information - The company paid a quarterly dividend of $0.25 per share on March 7, 2025, totaling approximately $1.6 million [17] - The balance sheet reflects $27 million in cash and short-term investments as of March 31, 2025 [18] Q&A Session Summary Question: Has there been an impact on advertising spend related to tariffs? - Management indicated there may be a ripple effect from tariffs but has not seen significant changes yet [33] Question: What are the trends in digital performance for the quarter and guidance for the second quarter? - Management noted that digital performance was addressed earlier and trends are improving for the second quarter [35] Question: Any insights on advertising categories that weakened from Q1 to Q2? - Management stated that main categories are performing well and showing positive growth for the second quarter [36]