Friday, May 10, 2019
Cumulus Media (CMLS)
It's Expected To Get A Little Noisy.
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.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
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- First quarter over delivers. The company over delivered on first quarter 2019 results. Revenues and adjusted EBITDA were better than expected, at $267.5 million and $41.8 million, respectively, compared with our revenue and adjusted EBITDA estimates of $264.1 million and $36.7 million, respectively. The favorable growth in revenue was driven primarily on the strength of its digital business.
- Q2 Likely Will Be Noisy. The company indicated that pacings are down slightly in the second quarter in line with our expectations. Notably, the earlier announced radio transact...
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