With two of the nation’s largest radio companies in bankruptcy, iHeartMedia and Cumulus, many who don’t really know radio contend the medium is dead or dying. But those who do know radio argue that it’s still every bit a vital medium. The problem, they argue, is that too many stations are poorly managed, often from…
Tag: cumulus
Radio Online: Cumulus Media Q3 Net Revenues Down 1.7%, Earnings Up
Following its exit from Chapter 11 reorganization, Cumulus Media reported net revenues for the third quarter of $282.3 million, down 1.7% from $287.2 million in 2017. Adjusted EBITDA grew 0.5% to $62.1 million from $61.7 million. The company posted a net income of $12.7 million (63 cents per diluted share) as compared to $1.2 million…
“The Sports Animal” & FOX 43 Present “Tennessee Sports Night”
KNOXVILLE, TN – Raycom Media’s WTNZ-TV FOX 43 and Cumulus Media’s WNML-FM The Sports Animal are announcing the launch of “Tennessee Sports Night”, a new local 7 p.m. sports talk show that will be simulcast live on both radio and television stations. The half-hour program will air Monday-Friday and offer East Tennesseans analysis of the…
ALL ACCESS: Cumulus Revenues Slip, Loss Narrows, Westwood One Up For First Quarter
CUMULUS MEDIA has released its first quarter results, with net revenue down 0.1% to $263.7 million, net loss narrowing 32.4% to $5 million, and Adjusted EBITDA up 4% to $40.3 million. Radio station group revenue fell 3.1% to $168 million, while WESTWOOD ONE revenue rose 5.5% to $95 million. The company is operating under Chapter…
Forbes: In The IHeartMedia Bankruptcy, Expect A Major Selloff Of Radio Stations
Great Article by Gene Ely of Forbes The deal was struck in just the nick of time, hours before the radio giant was set to be shut down by its creditors, and it could well save iHeartMedia, allowing it to be reborn and thrive again. But be assured, the iHeartMedia that emerges from the prearranged bankruptcy worked out…
Radio Ink: All Fired Up Field Fires Back.
Now as the owner of radio’s largest radio company not in bankruptcy, Entercom CEO David Field is once again speaking out to defend the entire industry. This is not something new for Field. He’s been one of radio’s biggest, loudest cheerleaders for years. With the CBS radio deal in the books, he has a bigger…
Radio Giant Cumulus Files for Bankruptcy
Atlanta-based radio giant Cumulus Media has filed to reorganize in Chapter 11 bankruptcy, with $2.4 billion in debt. It has reached an agreement with 69% of its term loan holders. Cumulus’ pre-packaged restructuring agreement with lenders will reduce the company’s debt by more than $1 billion. The filing took place at United States Bankruptcy Court for the…
Cumulus Defaults On Interest Payment For Notes, 30-Day Grace Period Starts Today
CUMULUS MEDIA INC. has informed the SEC that it will miss TODAY’s interest payment due of about $23.6 million on subsidiary CUMULUS MEDIA HOLDINGS INC.’s 7.75% Senior Notes due 2019, a default that triggers a 30-day grace period that, if payment is not made before the 30 days run out, will in turn lead to…