All Posts: cumulus

Cumulus media has agreed to buy Citadel Broadcasting with a reported bid of about $2.4 BILLION...$37 a share.  Cumulus says they see the deal closing by the end of the year. This will give Cumulus new presence in major markets and bring its total count of radio stations to 572..still leaving it behind Clear Channel's 800 or so stations.

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Radio Ink has reported that the deal for Cumulus to buy Citadel has been completed.  However, they could not confirm it officially as they had gotten "inside" information.  If it's not done, it's close...Barron's reported in the last hour that private equity firm, Crestview parnters was putting $500 million into the deal. Cumulus shares were up more than 6.5% to $4.59 and Citadel's had increased 15% to $34.50 a share. Cumulus has repor...
While reports that several giant radio companies are wrestling with loans and might be facing bankruptcy proceedings of some kind, Cumulus reports that they have been able to adjust their payments and are okay for now...Here is their current press release

Cumulus Media Inc. (NASDAQ: CMLS) (the “Company”) today announced that it has entered into an amendment to its senior secured credit facility, which was overwhelmingly approved b...

In past days one of the big rock stations in Atlanta was 99-X.  15 months ago Cumulus took the station off the air and made it into an internet only station at 99x.com. The internet station was more than just streaming..continued with live jocks...and the station was on HD in Atlanta.  Interesting that the station also gives listeners a choice of listening to the live feed or also watching a video feed on the Net as well. 

Friday, 99X went bac...

Arbitron calls the announcement "a step backward"

During last spring's NAB convention in Las Vegas, Cumulus Presient Lew Dickey announced he was looking for a new ratings service for his smaller markets, and told the world he was open for bids.  Today, the results turned to Nielsen who has moved over to radio to provide the service.  Cumulus will switch to Nielsen's ratings system in 50 small and midsize markets, while Clear Channel said it would...

BTC also announces Paul Brenner will serve as president

The Broadcaster Traffic Consortium(BTC), a nationwide coalition of radio companies formed to distribute data viaHD Radio® technology, announced that three additional radio companies willcontribute spectrum to the venture: Cumulus Media (Nasdaq: CMLS - News), HubbardBroadcasting and Cobalt Operating, LLC.

The three new partners complement the current BTC coverage by providingkeym...

Cumulus Media Inc. (NASDAQ: CMLS) today announced that its Boardof Directors has authorized the purchase, from time to time, of up to$75 million of its shares of Class A Common Stock.

Repurchases may be made in the open market or through blocktrades, in compliance with Securities and Exchange Commissionguidelines, subject to market conditions, applicable legalrequirements and various other factors, including the requirements ofCumul...

Cumulus Media Inc. Announces Investor Groups Termination of Merger Agreement

Cumulus Media Inc. (NASDAQ: CMLS) announced today that it has entered into an agreement with the investor group led by Lew Dickey, the Companys Chairman, President and CEO, and an affiliate of Merrill Lynch Global Private Equity, ...

Cumulus Reports Pro Forma Cash Revenue and Adjusted EBITDA Increases of 2.0% and 12.7%

Cumulus Media Inc. (NASDAQ: CMLS) today reported financial results for the three months ended March 31, 2008.

Financial highlights (in thousands, except per share data and percentages) are as follows:

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CUMULUS WILL ANNOUNCE THEY ARE NOT RENEWING ARBITRON IN MARKETS SMALLER THAN 100

New Radio Star has learned that Cumulus Media, one of the giants of the radio
companies (344 stations in 67 plus markets) is expected to announce today
they are not going to renew current Arbitron contracts for markets 100 or
smaller upon expiration of those contracts by the end of they year. They will
maintain contracts for a handful of stations in major markets. Th...