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Cumulus Media (CMLS)
An encouraging preview.
CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment 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 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.
- A Surprising Preview. The company indicated that it plans to report full year 2018 revenues between $1.139 to $1.141 billion and adjusted EBITDA between $232.7 million to $234.7 million, well above our expectations. We believe that high margin Political advertising likely accounts for a big portion of the upside variance. The company plans to report March 18th.
- Beats our expectations. We conservatively estimated 3.3% revenue growth to $303.6 million for Q4 and $1.134 billion for the full year revenues. Our adjusted EBITDA estimate for Q4 was $57.4 mill...
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