Latest news with #CumulusMedia
Associated Press
01-05-2025
- Business
- Associated Press
Cumulus Media Reports Operating Results for the First Quarter 2025
ATLANTA, May 01, 2025 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the 'Company,' 'Cumulus Media,' 'we,' 'us,' or 'our') today announced operating results for the three months ended March 31, 2025. Mary G. Berner, President and Chief Executive Officer of Cumulus Media, said, 'For the first quarter, we delivered revenue in line with pacing guidance despite worsening economic headwinds reflecting, among other things, the imposition of tariffs that have depressed both consumer and advertiser sentiment. However, with that backdrop, what remains constant is our relentless focus on actions to mitigate the impacts of the macro environment. For example, we accelerated growth in our digital marketing services business, which was up 30% for the quarter; leveraged our entire platform to capture demand opportunities; and drove additional annualized cost reductions of $7.5 million. Moving forward, we will continue to execute these strategies while simultaneously working to fundamentally transform the way we use and leverage our key assets.' Q1 Key Highlights: Operating Summary (dollars in thousands, except percentages and per share data): For the three months ended March 31, 2025, the Company reported net revenue of $187.3 million, a decrease of 6.4% from the three months ended March 31, 2024, net loss of $32.4 million and Adjusted EBITDA of $3.5 million. Balance Sheet Summary (dollars in thousands): (1) Adjusted EBITDA, total debt at maturity and net debt less total unamortized discount are not financial measures calculated or presented in accordance with accounting principles generally accepted in the United States of America ('GAAP'). For additional information, see 'Non-GAAP Financial Measures.' (2) The exchange offer was accounted for as a debt modification resulting in a prospective yield adjustment and the carrying value was not changed. The $33.1 million difference between the principal amounts exchanged and the resulting principal amounts will be amortized to interest expense (thereby reducing interest expense) over the life of the debt. As of March 31, 2025, $14.0 million and $14.1 million of unamortized difference for the Term Loan due 2029 and the Senior Notes due 2029, respectively, remain. (3) Excludes any debt issuance costs. Earnings Conference Call Details The Company will host a conference call today at 8:30 AM ET to discuss its first quarter 2025 operating results. NetRoadshow (NRS) is the service provider for this call. They will require email address verification (one-time only) and will provide registration confirmation. To participate in the conference call, please register in advance using the link on the Company's investor relations website at Upon completing registration, a calendar invitation will follow with call access details, including a unique PIN, and replay details. To join by phone with operator-assisted dial-in, domestic callers should dial 833-470-1428 and international callers should dial 404-975-4839. If prompted, the participant access code is 624457. Please call five to ten minutes in advance to ensure that you are connected prior to the call. The conference call will also be broadcast live in listen-only mode through a link on the Company's investor relations website at This link can also be used to access a recording of the call, which will be available shortly following its completion. Please see an update to the Company's investor presentation on the Company's investor relations website at which may be referenced on the conference call. Unless otherwise specified, information contained in the investor presentation or on our website is not incorporated into this press release or other documents we file with, or furnish to, the SEC. Forward-Looking Statements Certain statements in this release may constitute 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Such statements are statements other than historical fact and relate to our intent, belief or current expectations primarily with respect to our future operating, financial, and strategic performance and our plans and objectives. Any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements to differ from those contained in or implied by the forward-looking statements as a result of various factors. Such factors include, among others, risks and uncertainties related to the implementation of our strategic operating plans, the continued uncertain financial and economic conditions, the rapidly changing and competitive media industry, and the economy in general. We are subject to additional risks and uncertainties described in our quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the 'Risk Factors,' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections contained therein. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control, and the unexpected occurrence or failure to occur of any such events or matters could cause our actual results, performance, financial condition or achievements to differ materially from those expressed or implied by such forward-looking statements. Cumulus Media assumes no responsibility to update any forward-looking statements, which are based upon expectations as of the date hereof, as a result of new information, future events or otherwise. About Cumulus Media Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 400 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, Infinity Sports Network, AP News, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. For more information visit Non-GAAP Financial Measures From time to time, we utilize certain financial measures that are not prepared or calculated in accordance with GAAP to assess our financial performance and profitability. Consolidated adjusted earnings before interest, taxes, depreciation, and amortization ('Adjusted EBITDA') is a financial metric by which management and the chief operating decision maker allocate resources of the Company and analyze the performance of the Company as a whole. Management also uses this measure to determine the contribution of our core operations to the funding of our corporate resources utilized to manage our operations and the funding of our non-operating expenses including debt service and acquisitions. In addition, consolidated Adjusted EBITDA is a key metric for purposes of calculating and determining our compliance with certain covenants contained in our credit agreements. In determining Adjusted EBITDA, we exclude the following from net (loss) income: interest, taxes, depreciation, amortization, stock-based compensation expense, gain or loss on the exchange, sale, or disposal of any assets or stations or early extinguishment of debt, restructuring costs, expenses relating to acquisitions and divestitures, non-routine legal expenses incurred in connection with certain litigation matters, and non-cash impairments of assets, if any. Management believes that Adjusted EBITDA, with and excluding impact of political advertising, although not a measure that is calculated in accordance with GAAP, is commonly employed by the investment community as a measure for determining the market value of a media company and comparing the operational and financial performance among media companies. Management has also observed that Adjusted EBITDA, with and excluding impact of political advertising, is routinely utilized to evaluate and negotiate the potential purchase price for media companies. Given the relevance to our overall value, management believes that investors consider these metrics to be extremely useful. The Company presents revenue, excluding impact of political revenue. As a result of the cyclical nature of the electoral system and the seasonality of the related political revenue, management believes presenting net revenue, excluding impact of political revenue, provides useful information to investors about the Company's revenue growth comparable from period to period. The Company presents the non-GAAP financial measure total debt at maturity which is total debt principal, gross, less total unamortized debt discount. In addition, the Company presents the non-GAAP financial measure net debt less total unamortized discount which is total debt at maturity less cash and cash equivalents. Management believes that total debt at maturity and net debt less total unamortized discount are important measures to monitor leverage and evaluate the balance sheet. We refer to Adjusted EBITDA, with and excluding the impact of political advertising, net revenue, excluding the impact of political revenue, total debt at maturity, and net debt less total unamortized discount as the 'Non-GAAP Financial Measures.' Non-GAAP Financial Measures should not be considered in isolation or as a substitute for net income, net revenue, operating income, cash flows from operating activities or any other measure for determining the Company's operating performance or liquidity that is calculated in accordance with GAAP. In addition, Non-GAAP Financial Measures may be defined or calculated differently by other companies and, therefore, comparability may be limited. For further information, please contact: Cumulus Media Inc. Investor Relations Department [email protected] 404-260-6600 Supplemental Financial Data and Reconciliations The following tables reconcile net loss, the most directly comparable financial measure calculated and presented in accordance with GAAP, to Adjusted EBITDA for the periods presented herein (dollars in thousands): The following tables reconcile the as reported net revenue and as reported Adjusted EBITDA, both including and excluding the impact of political, for the periods presented herein (dollars in thousands): The following table reconciles total debt principal, gross, the most directly comparable financial measure calculated and presented in accordance with GAAP, to total debt at maturity and net debt less total unamortized discount (dollars in thousands):
Yahoo
03-04-2025
- Entertainment
- Yahoo
KQRS makes lineup changes as classic rock station moves into the '90s
After a short stretch of rolling without DJs to prepare for a revamp, KQRS is back on the air with DJs and a new format. The station relaunched on Thursday morning at 6 a.m. with an expanded musical focus, new on-air talent, and new shows. The new additions include former Cities 97.1 host Paul Fletcher and former Current music director Jade. In addition to the rock cornerstones the station has long had in the rotation — Tom Petty, Led Zeppelin, Rolling Stones, et al. — owner Cumulus Media says the station will put a larger focus on '90s rock and Minnesota artists, such as Prince, Soul Asylum, The Replacements, and Bob Dylan. Tracks played following the relaunch Thursday morning include "Loser" by Beck, "Seven Nation Army" by The White Striples, and "You Get What You Give" by the New Radicals, with The revamped lineup is anchored by radio personality and founding member of the Black Crowes, Steve Gorman, who will continue to host KQ's morning show after taking over the slot in 2023 following the 2022 departure of Tom Barnard. Paul Fletcher, who was let go as a Cities 97.1 host in a round of iHeartMedia cuts last summer, is joining Gorman and co-host Ryder on the newly named Gorman in the Morning with Fletcher and Ryder. It follows the exit of Brian Zepp, who was let go from the KQ Morning Show in a move that provoked fans to start a petition to get him back on the air. 'After a few years living in the Twin Cities, the enormous legacy of 92KQRS couldn't be more clear to me," Gorman said in a statement. "The most respectful way to honor that legacy is to move forward with great energy. Rock music will forever be a cultural force, but only with continued evolution. I'm very excited about where we're going." Fletcher is also taking over the hosting duties for the 10 a.m. to 3 p.m. weekday slot from Chris Nelson. Jade, who left The Current in 2023 after more than 15 years at Minnesota Public Radio, will take the air from 3–7 p.m. on weekdays. "Hello music lovers, I'm back on the airwaves starting tomorrow!!" Jade announced Wednesday. "I can't wait to spend time listening to music with you again." Jade is taking over the slot previously hosted by Lisa Miller, who will host a new daily segment called Rock Review airing multiple times throughout the day. Miller will also host a weekend show, though details on that program have not been confirmed. As of Thursday morning, Chris Nelson is now listed as the host of the 7 p.m. to midnight weekday slot previously hosted by Shannon Knight. Cumulus Media says Knight will be staying at the station, but has not confirmed what her new role will be. A Cumulus spokesperson adds that the weekend crew will remain, and that more additions are forthcoming 'This is a natural and obvious evolution for 92KQRS. An entire generation is no longer underserved in the Twin Cities with our fresh take on rock," says James Kurdziel, Director of Content and Programming for KQRS. "We're fortunate to have Steve Gorman take the lead and with our new talent additions along with our music focus, a statement is made about what we are and who we serve.'
Yahoo
02-04-2025
- Sport
- Yahoo
Cumulus Media's Westwood One to Broadcast the 2025 NCAA® Division I Men's Final Four® and National Championship Game in Spanish for the Eighth Straight Tournament
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 at 6 p.m. ET on Saturday, April 5 with the 2025 Men's Final Four live from San Antonio, Texas, when the Auburn Tigers takes on the Florida Gators. The second national semifinal, between the Duke Blue Devils and the Houston Cougars, will begin 40 minutes after the conclusion of the first game. Spanish-language coverage will continue with the national championship game on Monday, April 7 at 8:30 p.m. ET. Rafael Hernández Brito will once again serve as the play-by-play announcer, his eighth time with the network, while former All-American point guard Greivis Vásquez will return as analyst for the seventh time. For the fifth time, former Puerto Rican National Basketball Team coach Carlos Morales will host the broadcasts. 'Werner is thrilled to return as the presenting sponsor of the 2025 NCAA Men's Final Four broadcast in Spanish,' stated Stacy Gardella, head of global marketing technology & operations for ProDriven Global Brands. 'This Spanish language broadcast allows Werner to connect with Hispanic basketball enthusiasts while reinforcing Werner's role as the official ladder for the NCAA Men's and Women's Basketball Championships.' About Westwood One's Spanish Broadcast Crew Rafael Hernández Brito, known as Rafa 'El Alcalde,' is a veteran broadcaster who has been the Spanish play-by-play voice for the Cleveland Cavaliers for the last nine seasons. Prior to joining the Cavs, he was the Spanish voice of the Brooklyn Nets for two seasons and called St. John's University basketball. His national broadcast experience includes eight years as the voice of the NFL en Español for Univision, and he has called 11 Super Bowls. He has also done Spanish play-by-play for the Miami Dolphins as well as for Major League Baseball, boxing, and UFC. With the 2015 NBA Finals, he became the first broadcaster in the United States to call the Finals of all three major sports in Spanish. This will be his eighth time calling the NCAA Final Four and national championship game in Spanish for the network. Greivis Vásquez is one of the most successful Hispanic basketball players ever to wear a uniform. Greivis, a native of Venezuela, was a former All-American point guard at University of Maryland, where he led the Terrapins to three NCAA Tournament appearances. As a senior, he was named ACC Player of the year, and the winner of the Bob Cousy award, given annually to the best collegiate point guard in the nation. He was selected by the Memphis Grizzlies in the first round of the NBA Draft in 2010 and played for six teams in his seven years in the league. Greivis has also played for the Venezuelan National Team and led the squad to the 2014 FIBA South American Championship. In 2012, he was honored as a 'Champion of Change' at the White House for his efforts as a sports diplomat in the United States and his native Venezuela. This will be Vasquez' seventh time calling the Final Four and national championship game in Spanish for the network. Carlos Morales joins Westwood One for the fifth time on the Final Four broadcasts, and fourth as pregame and halftime host. Morales served as the game analyst in 2021. Morales was on the coaching staff of the Puerto Rican national basketball team for a decade, during which time they participated in two Olympic Games, three world championships, and three Goodwill Games. During his time there, the national team captured five gold medals and seven silver medals in international competitions. He also coached professional basketball in both Venezuela and the Dominican Republic before joining ESPN as a television analyst in 2000. He called the Final Four and national championship game in Spanish for ESPN International from 2005-2018. Where to Listen Westwood One's Final Four coverage can be heard on terrestrial radio stations and via SiriusXM. All three games will also be streamed online for free on and the Westwood One Sports mobile app. Additionally, the broadcasts will be available for free via the NCAA March Madness mobile app or The Varsity Network app. Fans can also access live audio via Alexa-enabled devices by asking to 'Abre Westwood One Sports'. TuneIn premium subscribers can also hear all the action live. In addition to broadcasting the NCAA Men's Final Four and national championship game in Spanish for eight years, Westwood One has broadcast the NCAA Men's Basketball Tournament since 1982 and every game of March Madness® on multiple platforms since 2005. The network has broadcast the Women's Final Four and national championship game for more than 26 years. NCAA, Final Four, and March Madness are trademarks of the National Collegiate Athletic Association. Westwood One is the exclusive broadcast radio, digital audio, distribution, and licensing partner for the NCAA Championships. About Westwood One Sports Westwood One Sports is home to some of the most exciting sports broadcasts on radio. In addition to being the exclusive network radio partner to the NFL since 1987—featuring regular and post-season NFL football, including the playoffs and the Super Bowl -- its other extensive properties include NCAA Basketball, including the NCAA Men's and Women's Tournaments and the Final Four®; U.S. Soccer; The Masters; NCAA Football; and other marquee sports events. Westwood One also distributes and represents Infinity Sports Network. On social media, join the Westwood One Sports community on Facebook at on Instagram at and X (formerly Twitter) at For more information, visit or download the Westwood One Sports app in the iTunes or Google Play stores. About Cumulus Media Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 400 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit About the NCAA The NCAA is a diverse association of more than 1,100 member colleges and universities that prioritize academics, well-being and fairness to create greater opportunities for nearly half a million student-athletes each year. The NCAA provides a pathway to higher education and beyond for student-athletes pursuing academic goals and competing in NCAA sports. More than 54,000 student-athletes experience the pinnacle of intercollegiate athletics by competing in NCAA championships each year. Visit and for more details about the Association and the corporate partnerships that support the NCAA and its student-athletes. The NCAA is proud to have AT&T, Capital One and Coca-Cola as official corporate champions and the following elite companies as official corporate partners: Buffalo Wild Wings, Buick, GEICO, Great Clips, Intuit Turbotax, Invesco QQQ, Marriott Bonvoy, Nabisco, Nissan, Pizza Hut, Reese's, Samsung Galaxy, The Home Depot, Unilever and Wendy's. Contact: Lisa Dollinger Strategic Communication for Cumulus Media | Westwood One | lisa@ Sign in to access your portfolio
Yahoo
25-03-2025
- Entertainment
- Yahoo
Boss Bae's Brunch networking, women's empowerment event returns
BOSSIER CITY, La. (KTAL/KMSS) —Women in the Ark-La-Tex are gearing up for an afternoon of empowerment, networking, and inspiration at the 2nd Annual Unapologetically Her: Boss Bae's Brunch. The event, presented by Cumulus Media, will be held on Sunday, March 30, from 1 to 4 p.m. at 375 Boardwalk Blvd. in Bossier City. Hosted by Pretty Lil Bae, the brunch will feature panel speakers, vendors, music by DJ Static Shock, and plenty of good vibes and food. This event aims to unite ambitious women from all walks of life to celebrate confidence, entrepreneurship, and success. With engaging discussions and networking opportunities, the Boss Bae's Brunch is a movement fostering growth and collaboration among women in the community. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-03-2025
- Entertainment
- Yahoo
Changes at KQRS and 93X, with Brian Zepp among those out
Changes are happening at KQRS and 93X radio stations in the Twin Cities. Social media posts from KQRS and impacted personalities say departures have taken place at both stations, including Brian Zepp at KQRS and Andrew Wappel from the 93X Half-Assed Morning Show. Zepp is leaving The KQ Morning Show, which is hosted by Steve Gorman. KQRS posted about Zepp's departure on its social media accounts. "We want to thank Zepp for his time with 92 KQRS," the post reads. "We had a helluva a ride over the years and want to thank him for every early morning wakeup call, too many late-night parties, and all the laughs in between." Wappel announced his departure on Facebook. "By now most of you have heard the news," he wrote of leaving the station where he worked for more than a dozen years. "I'm no longer with 93X and Cumulus Media. I didn't get fired and didn't do anything wrong. I was let go... Thank you to all the listeners. You are the reason why I did what I did, and for so long." Cumulus Media has not yet responded to request for comment about the reasons for the layoffs and whether any other staff was impacted by the moves. Kathryn Brandt, co-host of the Tom Bernard Show podcast, suggested on Twitter that others were let go beyond Zepp. Fans have been sharing memories of Wappel's time at 93X on Reddit and even began a petition, hoping to bring him back. "Like so many loyal listeners... my mornings began with the insightful humor and unique personality of Andrew Wappel, fondly known to us as the 'Muppet,'" the petition reads. "His sudden and unexpected departure has left a glaring void on the show, akin to losing a good friend."
