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CMLS - Cumulus Media Inc.
$9.37
0.01(0.11%)9:00:01 PM 1/22/2021
Cumulus Media, Inc. is an American broadcasting company and is the third largest owner and operator of AM and FM radio stations in the United States behind Entercom and iHeartMedia, Inc. As of June 2019, Cumulus lists ownership of 428 stations in 87 media markets. It also owns and operates Westwood One. Its headquarters are located in Atlanta, Georgia. Its subsidiaries include Cumulus Broadcasting LLC, Cumulus Licensing LLC and Broadcast Software International Inc. Cumulus Media was established in August 1998 by radio consultant Lewis Dickey Jr. and media and technology entrepreneur Richard Weening. The Telecommunications Act of 1996, among other legislation, relaxed media ownership restrictions, allowing a single owner to possess or control an unprecedented number of radio stations per market and nationwide. Dickey, then a nationally known radio programming consultant, was acting as a consultant to a small radio group in which Weening had a personal investment. Weening signed onto Dickey's idea to acquire and operate radio stations in mid-size markets as opposed to the largest markets on which competing radio group Clear Channel Communications was focusing. Dickey was the radio expert and Weening was the corporate finance and start-up CEO. Dickey was president of both radio consulting firm Stratford Research and his family company, Midwestern Broadcasting, with two stations in Toledo, Ohio; these stations would later be acquired by Cumulus. Weening had successful experience as a start-up CEO in book and magazine publishing, online services and enterprise software systems. He was then CEO of Quaestus & Co., Inc., a private equity firm specializing in media and technology startups. For the new radio company, Weening chose the name Cumulus for the type of cloud formation for their ubiquity in the sky, which Weening and Dickey hoped would be the same for their stations across the country. Quaestus provided the seed capital to make the first station acquisitions as a model for the Cumulus business strategy.
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Stock news

    12/19/2020CMLS
    Is There An Opportunity With Cumulus Media Inc.'s (NASDAQ:CMLS) 46% Undervaluation?

    In this article we are going to estimate the intrinsic value of Cumulus Media Inc. ( NASDAQ:CMLS ) by taking the...

    12/7/2020CMLS
    Is CMLS A Good Stock To Buy Now?

    Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that’s why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an […]

    12/4/2020CMLS
    Cumulus Media (CMLS) in Focus: Stock Moves 6.2% Higher

    Cumulus Media (CMLS) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.

    11/19/2020CMLS
    CUMULUS MEDIA Unveils PROJECT SHINE

    CUMULUS MEDIA today announces the launch of PROJECT SHINE, a cross-platform charitable initiative, serving as a nationwide call to local volunteerism through partner VolunteerMatch, the world's largest volunteer engagement network. PROJECT SHINE will be promoted on the company's 422 radio stations and websites across 87 U.S. markets and through CUMULUS MEDIA's Westwood One, the largest audio network in the U.S., with creative promos framed by a new version of iconic rock band Collective Soul's h...

    11/6/2020CMLS
    Cumulus Media Inc (CMLS) Q3 2020 Earnings Call Transcript

    With that, I'll now turn it over to our President and CEO, Mary Berner. In the third quarter, we continued to deliver against the goals we established at the start of the pandemic crisis: maximizing revenue, offsetting the virus' impact through rigorous cost management and liquidity enhancement, and ensuring that we emerge from the pandemic well-positioned for long-term success.

    11/5/2020CMLS
    How Does Cumulus Media's Debt Look?

    Shares of Cumulus Media (NASDAQ: CMLS) moved higher by 9.23% in the past three months. Before having a look at the importance of debt, let us look at how much debt Cumulus Media has.Cumulus Media's Debt Based on Cumulus Media's financial statement as of November 5, 2020, long-term debt is at $1.24 billion and current debt is at $5.25 million, amounting to $1.24 billion in total debt. Adjusted for $353.72 million in cash-equivalents, the company's net debt is at $890.29 million.Let's define some ...

    11/5/2020CMLS
    Cumulus Media (CMLS) Reports Q3 Loss, Lags Revenue Estimates

    Cumulus (CMLS) delivered earnings and revenue surprises of 2.50% and -0.57%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?