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Cumulus Media

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acquisitions. The board was concerned about the restatement of revenues and the shareholder lawsuits. This is consistent with reports in a radio industry newsletter which reported that it was a widely held belief in the Radio industry was that the Dickey brothers orchestrated events that lead to the board's decision not to back the Internet project, placing Dickey at the helm of Cumulus, moving the Cumulus headquarters from Milwaukee to Atlanta and to Weening's ultimate resignation as an employee and director in January 2001. According to public filings Weening, QUAESTUS management company and other Weening related interests sold their interests in Cumulus a year later in May 2002 at prices ranging from $ 17 to $ 21.50 per share not The $ 55 high but considerably higher than share prices after their sale.
655:) for a price of $ 1.2 Billion. The 33 Susquehanna stations were privately held in a separate partnership called Cumulus Media Partners, LLC (commonly referred to as CMP on the company's quarterly earnings calls) that was the subject of an equity-for-debt swap in May 2009 in an attempt to avoid defaulting on the terms of the CMP lending agreement. While Cumulus operated the CMP stations, they initially held only a minor ownership interest in them. On January 31, 2011, Cumulus announced a deal to acquire the remaining ownership of CMP from its equity partners in a stock transaction valued at approximately $ 740 million that is closed in August 2011. As a result of the CMP acquisition, Cumulus now owns a limited-partnership interest in San Francisco Baseball Associates LP, the owner of the 440:
the range of content sections in print. At the time of Cumulus' founding, newspaper display and classified advertising claimed the largest share of local advertising dollars. By offering a range of audiences like newspapers, Cumulus could gain a greater share of the local advertising dollar than the individual stations could garner separately. In addition, acquiring the top-performing stations in a given market as part of the operating cluster would yield more national advertising. The market focus would be on those deemed to offer substantial growth opportunities, while the station focus was the leading station in the market and other stations well-positioned for significant growth.
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fact that CNN Money says "roiled the already active rumour mill about accounting irregularities. The company also reported it would restate quarterly revenues in 1999 as some markets did not comply with Cumulus' revenue recognition policies and booked some advertising contracts for their full value rather than recognizing revenue as the ads aired. As a result, class-action lawsuits were filed against Cumulus charging the company with artificially inflating revenue and profit in 1999. PricewaterhouseCoopers, the company's auditors resigned in April citing material weaknesses in the Cumulus' financial controls arising from the possible revenue restatements.
541:"going to great lengths to keep two of its executives on board" and that Hannan had been offered "a big bonus to stay" as incentive to remain with the company. In October 2016, it was announced Hannan had taken the role of chief financial officer at programmatic advertising company, Social Reality, Inc. . Per SEC filings, Hannan would also "assist the company for several months to ensure a smooth transition". Noble Financial Analyst Michael Kupinski was reported to say that the resignation of CFO JP Hannan for John Abbot was "not a good sign" for the company and as a result of the change, a restructuring was likely. 456:, and $ 160 million in Senior Subordinated Bonds. At that time Cumulus owned or was committed to buy 176 stations – 124 FM stations and 52 am stations in 34 U.S. markets. In its first 17 months, Cumulus acquired 207 stations, creating the first mid-size market radio conglomerate. Following the company's IPO, its stock fell from $ 14 to $ 8 per share on October 2, 1998 before beginning a climb to close 1999 at $ 50.75. Some radio executives familiar with small markets thought that Cumulus was overpaying to buy top stations in markets that did not have a great upside potential. 387:, among other legislation, relaxed media ownership restrictions, allowing a single owner to possess or control an unprecedented number of radio stations per market and nationwide. Dickey, then a nationally known radio programming consultant, was acting as a consultant to a small radio group in which Weening had a personal investment. Weening signed onto Dickey's idea to acquire and operate radio stations in mid-size markets as opposed to the largest markets on which competing radio group 40: 499:
8 million, after the company found a $ 4.9 million tax benefit that had been under-reported. The restatement as it turns out had no material impact on the financials but in the context of the dot-com bust hysteria rumours of accounting irregularities drove a significant decrease in share price which threatened the company's ability to finance pending acquisitions.
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software company in the early 1990s had conceived and was overseeing development of the employment platform. Weening advocated for continuance of the project as a key potential source of revenue with a service that would be unique among radio companies. Ultimately, the board backed Dickey not Weening and the Internet project was scrapped.
713:). The deal was finalized on September 16, 2011, after acceptance by the FCC and Citadel's shareholders. As part of the deal, Cumulus Media will have to place 14 stations into a separate trust to comply with ownership limits. Following the acquisition, in an effort to focus on larger markets, Cumulus reached a deal with 484:
rapidly assembled radio group. On January 14 respected Wall Street analyst Frank Bodenchak advised institutional clients that Cumulus may miss his estimates for Q4 1999 and the year. A combination of the possible earnings miss and the rumours of accounting problems created a significant loss of investor confidence.
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In June 2016, Cumulus Media announced the resignation of its executive vice president, treasurer and chief financial officer, Joseph P. Hannan, to "pursue other interests" after six years with the company, to be replaced by John F. Abbot. It had previously been reported in April 2016 that Cumulus was
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By May 2002 the share price recovered to above the IPO price to a short-lived high of $ 22 on May 31, 2002. Dickey garnered some strong partners in the form of Bain Capital and Crestview partners who helped finance a series of ambitious acquisitions and partnerships which were creative, made Cumulus
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burst was a loss of confidence that the promise of the internet would ever happen. Many professional radio people like Dickey were skeptical and believed the best course for Cumulus was to focus on the radio strategy and drop the internet projects. Weening who had started a Silicon Valley e-commerce
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Since November 1998 the company had been developing an internet platform for classified employment advertising. The new system would operate in tandem with the radio station cluster in each market and offer employers the chance to post available positions on the web and promote their company and the
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and was impacted by the hysteria that followed its burst. The reasons included very rapid growth and skyrocketing share price which in the euphoria period fed on itself. The hysteria which followed was driven by both the absence of earnings and rumors which suggested the rapid growth might be false.
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but enrich programming. Each station would be programmed with a unique music format, live programming, brand, and target audience. The central idea was to create a cluster of radio stations that could compete with newspapers by offering advertisers a range of target demographic choices comparable to
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and $ 25 million from NationsBank Capital Corporation. With this financial backing secured, Dickey and Weening began acquiring radio stations yet managed to stay "under the radar", not attracting much notice or competition. In its first 12 months in operation, Cumulus acquired over 100 stations
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In January 2016, the Federal Communications Commission's Enforcement Bureau reached a "record-setting" $ 540,000 settlement with Cumulus over sponsorship identification in radio ads promoting a proposed energy project, reported to be the largest payment in FCC history for a single-station violation
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brand. Nash was designed to serve as an umbrella brand for all country music-related content across the company's properties, including radio, digital, and live events such as the "Nash Bash". All country stations owned by Cumulus would either be branded as Nash FM, or be strongly cross-promoted as
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As the dust began to settle in April 2000 the company issued revised annual 10K reports for 1998 and 1999 that showed minor variations in quarterly revenue and adjusted net loss for 1999 from $ 20.8 million to $ 13.6 million and net loss for 1998 was restated from $ 13.7 million to $
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On December 1, 2023, former 107.5 The Game in South Carolina sports talk radio host Tim Hill filed a civil rights lawsuit against Cumulus for firing him back in 2021 over their vaccine mandate. Hill is claiming a violation of Title VII of the Civil Rights Act of 1964, making him the second former
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During this same period Weening got into a dispute with the SEC over his proposal to reverse some of his and Dickey's 1999 compensation to help offset the earnings miss. While the proposal was never implemented, the SEC maintained it would have amounted to earnings management and was therefore an
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On March 17, Cumulus reported a loss of $ 0.20 per share vs $ 0.15 per share expectation. Broadcast cash flow was $ 12.3 million vs estimates around $ 17 million. In addition the Company reported that company CFO Rick Bonick had left earlier in January. It was not officially announced a
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The first quarter of 2000 proved to be troubling at Cumulus. A perfect storm of events drove the company's share price from $ 50 to $ 13 between January 1 and March 17 when over 30 million shares traded hands. Driving the decline was persistent rumours of possible accounting irregularities in the
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On November 19, 1999, Cumulus sold an additional 10 million shares at $ 24.93, raising $ 250 million. Acquisitions continued at an accelerating pace. At this point, the company owned or operated pending closing 246 stations in 45 markets. In a period of two years and six months, Cumulus
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The next significant milestone was obtaining a $ 50 million investment from the State of Wisconsin Investment Board (SWIB), which previously invested in Weening's magazine publishing company. With this capital in place, Cumulus began full-scale operations on May 22, 1997. Weening assumed the
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According to interviews with two former members of the Cumulus board, Lew Dickey and his brother John convinced the board to let them run the company. Dickey, whose family had just sold an Atlanta station for a reported $ 250 million, offered to invest in Cumulus if needed to close pending
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became the second largest U.S. broadcasting group in terms of stations operated. It also raised a staggering $ 1.3 billion when considering sales of common and preferred stock shares, senior bank lines of credit, and senior subordinated debt or junk bonds which when issued were rated CCC+.
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of the Commission's sponsorship ID laws. In August 2019, the FCC proposed Cumulus Media pay another $ 233,000 fine for additional violations of its sponsorship identification rules and not reporting them to the FCC after agreeing to do so under its 2016 consent decree.
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violations, unfair competition, breach of contract and breach of fiduciary duty, among other claims", similar to a lawsuit launched in 2012 and dropped in 2014 by the same plaintiff. In June 2016, Cumulus Media and Westwood One moved to have the new suit dismissed.
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Like most major American radio station owners, Cumulus has been forced to write down the value of its radio station licenses, resulting in large non-cash losses – $ 498.9 million in 2008, $ 230.6 million in 2007, and $ 63.4 million in 2006.
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For 1998, Cumulus reported revenue of $ 98.8 million, with broadcast cash flow of $ 26.6 million. Its cash-flow margin reached 27 percent. For 1999, Cumulus reported $ 180 million in revenue and $ 46.7 million broadcast cash flow.
413:. Dickey selected stations to buy and oversaw radio programming, operations and strategy as Executive vice-chairman. Dickey brought in highly regarded radio operator William Bungeroth to serve as President of Cumulus Broadcasting from new offices in 845:
tier, the ability to offer Cumulus radio stations on the Rdio service, and $ 75 million in marketing on Cumulus stations over five years. The stations launched on Rdio in August 2015; prior to the deal, Cumulus partnered with the competing
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for their ubiquity in the sky, which Weening and Dickey hoped would be the same for their stations across the country. Quaestus provided the seed capital to make the first station acquisitions as a model for the Cumulus business strategy.
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was focusing. Dickey was the radio expert and Weening was the corporate finance and start-up CEO. Dickey was president of both radio consulting firm Stratford Research and his family company, Midwestern Broadcasting, with two stations in
396:; these stations would later be acquired by Cumulus. Weening had successful experience as a start-up CEO in book and magazine publishing, online services and enterprise software systems. He was then CEO of Quaestus & Co., Inc., a 665:
In July 2007, the company announced its intention to "go private", however on May 11, 2008, the company announced it was unable to come to terms with the parties involved and the merger/acquisition agreement was terminated.
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On March 17, 2000, the company was forced to restate revenue and broadcast cash flow for three-quarters of 1999 after discovering that some of its sales force had prematurely booked revenue to meet sales goals.
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On February 15, 2023, Cumulus Media paid "$ 1 million to settle a lawsuit filed by seven former employees who said the fee practices and investment selections of the company's 401(k) plan violated ERISA."
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after its emergence from bankruptcy. In February 2011, Cumulus was again said to be in "exclusive negotiations" to acquire Citadel for $ 2.5 billion paid to Citadel shareholders, according to
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a significantly larger company but these acquisitions and Cumulus itself have struggled in the face of slow to no radio ad growth. (another researcher is working on this section)
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rules regarding information on recruitment sources. Cumulus, along with two other companies, had 30 days to pay or file a statement asking for reduction or cancellation of the
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The Cumulus strategy, as articulated in public filings, was to acquire multiple stations in a city or market, consolidate them physically to share a common infrastructure to
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position on the radio stations. At the time of the dot-com bust the system was in beta test in two markets. One of the short-lived but important impacts of the
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In July 2010, Cumulus publicly announced formation of a similar venture with Crestview Partners to acquire up to $ 1 billion of additional radio assets.
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stations announced via email that Cumulus had purchased Citadel Broadcasting. Citadel was made up of 225 radio stations in over 50 markets, as well as
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role of Executive chairman focusing on acquisitions deal structuring, corporate finance, and internet from the company's original headquarters in
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ruled that Susquehanna had failed to meet the "burden of persuasion" to have a TRO granted and the podcast was allowed to resume production.
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Cumulus Media was established in August 1998 by radio consultant Lewis Dickey Jr. and media and technology entrepreneur Richard Weening. The
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in their contracts barring them from competing with their former employer. In September 2023, the case was resolved after US District Judge
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for $ 260 million. To fund the sale, Cumulus, sold 53 more stations to Townsquare Media for $ 238 million, in markets such as
1787: 220: 1069: 984: 566: 1857: 1553: 912:, sued Cumulus Media after failing to accommodate his medical condition and religious beliefs. His suit details violations of the 2167:"Official: Cumulus Buys Dial Global, Spins Some Stations To Townsquare; Peak Stations Sold To Townsquare, Fresno Spun To Cumulus" 2086: 1374: 913: 1709: 1194: 673:
The company's stock, priced over $ 56 in 1999, then over $ 22 in 2004, was as low as $ 0.45 per share toward the end of 2008.
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to syndicate news content for its stations through Westwood One beginning in 2015. The network will provide its content on a
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The stock market acknowledged the remarkable growth with a share price that rose to a high of $ 51.00 on December 31, 1999.
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announced that it would take the syndication of its radio content in-house, with distribution handled by Skyview Networks.
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It was reported that most exemption claims were being rejected. The rejections were reported to use boilerplate messages.
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Cumulus became a publicly traded company on June 26, 1998. The company raised $ 400 million selling 7.6 million
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in 31 markets. Soon it was clear that the company would need over a billion dollars for its desired acquisitions, and an
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infraction. Weening finally agreed to pay a fine of $ 75,000 without conceding wrongdoing to settle the matter in 2003.
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firm specializing in media and technology startups. For the new radio company, Weening chose the name Cumulus for the
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On September 15, 2013, Cumulus announced that it had entered into a partnership with music streaming service
2472:"With No Official Comment, Cumulus CEO Issues Vaccine Mandate | Radio & Television Business Report" 1788:"Who runs Cumulus Media? Talk-radio threatens to fire its conservative hosts if they discuss election fraud" 722: 689:. Some Citadel shareholders were said to have been pushing the board to consider a sale. On March 10, 2011, 429: 175: 157: 697:, one of the largest radio networks in the United States; it included the stations that made up the former 491:
Meanwhile, Dickey had taken over day-to-day station operations from Bungeroth who resigned in mid January.
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On November 8, 2005, the company decided to amend and restate its results for the second quarter of 2005.
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https://www.bizjournals.com/atlanta/news/2016/04/01/cumulus-aims-to-keep-cfo-and-general-counsel-on.html
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to swap 65 radio stations in 13 markets, with the majority of the 65 stations being sold to Townsquare.
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https://www.bizjournals.com/atlanta/news/2016/06/22/struggling-cumulus-media-loses-its-cfo.html
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On December 30, 2008, Cumulus Media was issued a $ 14,000 Notice of Apparent Liability by the
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Cumulus Media, Inc. (December 31, 2012). "Notes to consolidated financial statements".
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basis, allowing individual stations to use their own brands for the content. In turn,
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as part of a restructuring of the company. Cumulus exited bankruptcy on June 4, 2018.
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SWIB's investment was soon followed by another $ 50 million from Wisconsin-based
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service. However, in November 2015, Rdio filed for bankruptcy and sold its assets to
807: 779: 694: 401: 328: 68: 58: 17: 5035: 2893: 2271:"Cumulus' Lew Dickey Explains Why NYC's New NASH-FM 'Is Good for Nashville' at CRS" 950: 799: 644: 449: 393: 352: 348: 340: 302: 98: 39: 2113:"Cumulus files to divest 14 stations, to complete its $ 2.4B purchase of Citadel" 2065:"Citadel confirms 'exclusive negotiations' with Cumulus – but says "no deal yet"" 1876:"Cumulus Media Inc. Enters into Agreement to Acquire Cumulus Media Partners, LLC" 87: 5172: 5158: 5068: 2643:"Cumulus Media's Vaccine Mandate Triggers Another Lawsuit from a Fired Employee" 888: 847: 743: 727: 344: 2675:"The Ticket and The Dumb Zone Settle Lawsuit, Blake Jones to Join Former Hosts" 2352:"Rdio cues up traditional radio stations, hoping to get an edge on competition" 2572: 1992: 1736:"Talk-radio owner orders conservative hosts to temper election fraud rhetoric" 954: 297: 240: 2721: 2564: 1095: 941:
In August 2023, Cumulus-owned Susquehanna Radio sued two former employees of
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Starting in June 2010, Cumulus made multiple unsuccessful offers to buy out
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On August 11, 2021, Cumulus Media CEO Mary Berner announced a company wide
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filed a lawsuit against Cumulus Media and associated defendants, alleging "
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In July 2014, Cumulus announced that it would end its partnership with
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In December 2021, political commentator, radio show host, and author
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The new CEO of Cumulus Media, as of September 2015 is Mary G Berner.
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Annual report to the Securities and Exchange Commission on Form 10-K
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upon advice of his doctor. He threatened to quit over the mandate.
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Launch of Nash, CNN partnership, and Rdio/iHeartRadio partnerships
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cluster. The sale to Cumulus was completed on November 14, 2013.
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attempts to overturn the 2020 United States presidential election
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Cumulus host to sue the company over this vaccine mandate.
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Cumulus was a part-time participant in the euphoria of the
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order, in which the company claimed that production of
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Companies that filed for Chapter 11 bankruptcy in 2017
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On January 11, 2013, after acquiring the station from
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Richard Denning (EVP, Secretary & General Counsel)
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Townsquare and Cumulus swap 65 stations in 13 markets
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Initial public offering and accelerating acquisitions
2629:"Cumulus Sued over 'Religious Exemption' to Vaccine" 5125: 5094: 5078: 5051: 5010: 3455: 2949: 967:podcast by the two former radio hosts violated the 677:
Acquisition of Citadel Broadcasting and Dial Global
308: 296: 286: 278: 258: 238: 218: 202: 192: 150: 139: 122: 104: 94: 80: 56: 46: 957:(TRO) on them after they refused to comply with a 5207:Radio broadcasting companies of the United States 908:Memphis morning show co-host Bob Boccia, who has 625:Frank Lopez-Balboa (EVP, Chief Financial Officer) 2327:"Cumulus taps CNN for Westwood One news service" 331:and is the second largest owner and operator of 643:, with the backing of 3 venture capital firms ( 631:Chairman, president and chief executive officer 869:COVID-19 vaccine mandates in the United States 2927: 1633:"Analyst: New Cumulus CFO is Not a Good Sign" 1461:"Cumulus Seeks Dismissal of Syndication Suit" 1025:List of radio stations owned by Cumulus Media 339:radio stations in the United States ahead of 8: 2842:"Cumulus Reports Third Quarter 2005 Results" 1210: 1208: 1146:"State of Wisconsin Investment Board (SWIB)" 32: 2378:"Rdio Partners With Cumulus Media (Report)" 2246:"New York Radio Gets a New Country Station" 2244:McKinley, James C. Jr. (January 21, 2013). 2087:"211 Cumulus Now Owns Citadel Broadcasting" 1832:"Executive Leadership Team – Cumulus Media" 1238:"Cumulus Media shares dive – Mar. 17, 2000" 726:that Cumulus would purchase the syndicator 2934: 2920: 2912: 1915:"Cumulus Media and Crestview Form Venture" 425:Northwestern Mutual Life Insurance Company 38: 31: 1189: 1187: 918:Title VII of the Civil Rights Act of 1964 5217:Mass media companies established in 1997 1941:"Cumulus Agrees to $ 1.3 Billion Buyout" 822:, and enter into a new partnership with 549:On November 29, 2017, Cumulus filed for 2879:Business data for Cumulus Media, Inc.: 1684:"Cumulus Media Emerges From Chapter 11" 1199:U.S. Securities and Exchange Commission 1036: 815:part of the Nash family of properties. 720:On August 29, 2013, it was reported by 452:at $ 14.00 each, $ 125 million in 2728:from the original on November 26, 2023 2673:Dearmore, Kelly (September 23, 2023). 2429:Roettgers, Janko (November 16, 2015). 1577: 1566: 1532: 1521: 1421: 1411: 904:On May 9, 2023, former News/Talk 98.9 557:Response to 2020 election fraud claims 2687:from the original on January 19, 2024 2668: 2666: 2219:"Cumulus-Townsquare-Peak Deal Closes" 1455: 1453: 639:In 2006, Cumulus acquired control of 369:Broadcast Software International Inc. 7: 1806:"Board of Directors – Cumulus Media" 1619:Securities & Exchange Commission 863:COVID-19 vaccine mandate controversy 786:in exchange for Peak Broadcasting's 359:, Georgia. Its subsidiaries include 2756:. December 30, 2008. Archived from 2071:. February 17, 2011. Archived from 2029:"NASDAQ:CMLS stock chart 2004–2014" 2013:. November 24, 2008. Archived from 1993:"NASDAQ:CMLS stock chart 1998–2014" 1070:"Subsidiaries of Cumulus Media Inc" 953:and Jake Kemp, seeking to impose a 589:Andy Hobson (Chairman of the Board) 561:On January 6, 2021, in response to 27:American radio broadcasting company 2706:Stein, Jeff (September 25, 2023). 2549:Jeremy Barr (December 21, 2021) . 2049:. December 6, 2010. Archived from 1595:Inside, Radio (October 20, 2016). 1311:"Connect Inc.Mountain View, Calif" 355:. Its headquarters are located in 25: 1708:Hsu, Tiffany (January 11, 2021). 985:Federal Communications Commission 619:Mary Berner (President & CEO) 601:Deborah Farrington (Board Member) 592:Mary Berner (President & CEO) 327:is a broadcasting company of the 5102:Broadcast Software International 2527:Evan Osnos (December 24, 2021). 2119:. April 12, 2011. Archived from 1734:Farhi, Paul (January 15, 2021). 267: 266: 247: 246: 227: 226: 207: 206: 5161:; operated by Cumulus under an 1482:Cumulus Media (June 22, 2016). 1375:American City Business Journals 1180:. Bloomberg L.P. June 24, 2023. 1166:. Bloomberg L.P. June 24, 2023. 987:related to the stations in the 914:Americans with Disabilities Act 5227:Companies listed on the Nasdaq 1967:"Cumulus Buyout Is Terminated" 1367:"Weening leaves Cumulus Media" 1216:"CUMULUS MEDIA INC (CMLS) IPO" 1121:"History of Cumulus Media Inc" 701:group (like flagship stations 385:Telecommunications Act of 1996 1: 5143:Susquehanna Radio Corporation 2410:. AOL, Inc. November 16, 2015 5232:Cumulus Media radio stations 1767:Atlanta Journal-Constitution 1400:(Press release). PR Newswire 1331:Inside Radio, March 16, 2000 1178:"Terms of Service Violation" 1164:"Terms of Service Violation" 993:Equal Employment Opportunity 945:, Texas-based radio station 653:Thomas H. Lee Partners, L.P. 607:Brian Kushner (Board Member) 595:Matthew Blank (Board Member) 389:Clear Channel Communications 351:. It also owns and operates 955:temporary restraining order 899:vaccinated against COVID-19 858:Criticism and controversies 604:Joan Gillman (Board Member) 110:; 26 years ago 5253: 5222:Oaktree Capital Management 5212:Companies based in Atlanta 2331:Atlanta Business Chronicle 866: 5151: 5079:Television-related assets 2156:(released April 30, 2012) 645:Bain Capital Partners LLC 598:Tom Castro (Board Member) 437:reduce operating expenses 37: 2748:"FCC Issues EEO Notices" 2151:January 3, 2012, at the 2031:. NASDAQ. June 29, 2014. 875:COVID-19 vaccine mandate 432:of stock was soon made. 361:Cumulus Broadcasting LLC 723:The Wall Street Journal 430:initial public offering 402:type of cloud formation 5186:, operated by Cumulus. 5138:Cumulus Media Networks 5114:(minority interest in 5020:Arkansas Radio Network 810:station under its new 806:in New York City as a 802:, Cumulus re-launched 212:US$ 844.5 million 2830:on February 15, 2016. 2760:on December 31, 2008. 1551:The Business Journals 1506:The Business Journals 1396:Inc., Cumulus Media. 969:noncompete agreements 897:and said that he was 879:unemployment benefits 551:Chapter 11 bankruptcy 545:Chapter 11 bankruptcy 517:Changing of the guard 365:Cumulus Licensing LLC 282:Mary G. Berner (4.5%) 18:Cumulus Licensing LLC 5133:Citadel Broadcasting 5112:San Francisco Giants 5031:Titans Radio Network 2659:. February 15, 2023. 2516:. September 7, 2021. 2384:. September 16, 2013 2307:on December 15, 2014 2139:May 6, 2012, at the 2093:. September 16, 2011 1346:insidemusicmedia.com 691:Citadel Broadcasting 683:Citadel Broadcasting 657:San Francisco Giants 649:The Blackstone Group 613:Executive leadership 411:Milwaukee, Wisconsin 180:Richard S. Denning ( 170:Frank Lopez-Balboa ( 2713:The Washington Post 2559:. Washington, D.C. 2556:The Washington Post 2502:. October 12, 2021. 2488:. October 15, 2021. 2277:. February 28, 2013 2225:. November 15, 2013 1741:The Washington Post 1313:. December 21, 2004 567:U.S. Capitol attack 325:Cumulus Media, Inc. 288:Number of employees 34: 33:Cumulus Media, Inc. 2474:. August 12, 2021. 2460:. August 12, 2021. 2250:The New York Times 2123:on April 16, 2011. 2075:on April 26, 2011. 1971:The New York Times 1945:The New York Times 1919:The New York Times 1882:. January 31, 2011 1714:The New York Times 1424:has generic name ( 1414:cite press release 1377:. January 29, 2001 1285:thefreelibrary.com 1098:on January 7, 2016 1092:"Lewis Dickey, Jr" 973:Karen Gren Scholer 937:Noncompete lawsuit 583:Board of directors 530:Talk Radio Network 471:Challenges in 2000 197:Radio broadcasting 184:, secretary & 174:, treasurer & 74:Russell 2000 Index 5194: 5193: 2778:. January 8, 2016 2358:. August 12, 2015 2356:Los Angeles Times 2199:. August 30, 2013 2173:. August 30, 2013 2053:on July 15, 2011. 2017:on June 24, 2012. 1576:Missing or empty 1531:Missing or empty 1291:on March 17, 2016 949:1310 The Ticket, 744:Quad Cities IA/IL 641:Susquehanna Radio 322: 321: 292:3,367 (FY23) 16:(Redirected from 5244: 5187: 5184:Paramount Global 5176: 5171:Operated by the 5166: 5025:CBS Sports Radio 2936: 2929: 2922: 2913: 2876: 2875: 2873:Official website 2858: 2857: 2855: 2853: 2844:. Archived from 2838: 2832: 2831: 2826:. Archived from 2820: 2814: 2813: 2811: 2809: 2804:. August 7, 2019 2794: 2788: 2787: 2785: 2783: 2768: 2762: 2761: 2744: 2738: 2737: 2735: 2733: 2703: 2697: 2696: 2694: 2692: 2670: 2661: 2660: 2653: 2647: 2646: 2645:. December 2023. 2639: 2633: 2632: 2625: 2619: 2618: 2611: 2605: 2604: 2597: 2591: 2590: 2583: 2577: 2576: 2546: 2540: 2539: 2537: 2535: 2524: 2518: 2517: 2510: 2504: 2503: 2496: 2490: 2489: 2482: 2476: 2475: 2468: 2462: 2461: 2454: 2448: 2447: 2445: 2443: 2426: 2420: 2419: 2417: 2415: 2400: 2394: 2393: 2391: 2389: 2374: 2368: 2367: 2365: 2363: 2348: 2342: 2341: 2339: 2337: 2323: 2317: 2316: 2314: 2312: 2303:. Archived from 2301:Capital New York 2293: 2287: 2286: 2284: 2282: 2267: 2261: 2260: 2258: 2256: 2241: 2235: 2234: 2232: 2230: 2215: 2209: 2208: 2206: 2204: 2189: 2183: 2182: 2180: 2178: 2163: 2157: 2131: 2125: 2124: 2109: 2103: 2102: 2100: 2098: 2091:Business Journal 2083: 2077: 2076: 2061: 2055: 2054: 2039: 2033: 2032: 2025: 2019: 2018: 2003: 1997: 1996: 1995:. June 29, 2014. 1989: 1983: 1982: 1980: 1978: 1963: 1957: 1956: 1954: 1952: 1937: 1931: 1930: 1928: 1926: 1911: 1905: 1898: 1892: 1891: 1889: 1887: 1880:businesswire.com 1872: 1866: 1865: 1864:on May 13, 2009. 1860:. Archived from 1854: 1848: 1847: 1845: 1843: 1828: 1822: 1821: 1819: 1817: 1802: 1796: 1795: 1784: 1778: 1777: 1775: 1773: 1759: 1753: 1752: 1750: 1748: 1731: 1725: 1724: 1722: 1720: 1705: 1699: 1698: 1696: 1694: 1680: 1674: 1673: 1671: 1669: 1655: 1649: 1648: 1646: 1644: 1629: 1623: 1622: 1621:. June 22, 2016. 1611: 1605: 1604: 1592: 1586: 1585: 1579: 1574: 1572: 1564: 1562: 1560: 1547: 1541: 1540: 1534: 1529: 1527: 1519: 1517: 1515: 1502: 1496: 1495: 1493: 1491: 1479: 1473: 1472: 1470: 1468: 1457: 1448: 1447: 1436: 1430: 1429: 1423: 1419: 1417: 1409: 1407: 1405: 1393: 1387: 1386: 1384: 1382: 1363: 1357: 1356: 1354: 1352: 1338: 1332: 1329: 1323: 1322: 1320: 1318: 1307: 1301: 1300: 1298: 1296: 1287:. Archived from 1277: 1271: 1270: 1268: 1266: 1256: 1250: 1249: 1247: 1245: 1234: 1228: 1227: 1225: 1223: 1212: 1203: 1202: 1191: 1182: 1181: 1174: 1168: 1167: 1160: 1154: 1153: 1142: 1136: 1135: 1133: 1131: 1117: 1108: 1107: 1105: 1103: 1094:. Archived from 1088: 1082: 1081: 1079: 1077: 1066: 1060: 1059: 1057: 1055: 1041: 959:cease and desist 784:Poughkeepsie, NY 756:Battle Creek, MI 740:Cedar Rapids, IA 715:Townsquare Media 318: 315: 273: 270: 269: 263: 253: 250: 249: 233: 230: 229: 221:Operating income 213: 210: 209: 156:Mary G. Berner ( 129:Lewis Dickey Jr. 118: 116: 111: 108:August 1998 90: 42: 35: 21: 5252: 5251: 5247: 5246: 5245: 5243: 5242: 5241: 5197: 5196: 5195: 5190: 5181: 5177: 5170: 5156: 5147: 5121: 5107:CumulusJobs.com 5090: 5074: 5047: 5006: 3459: 3451: 2953: 2945: 2940: 2908: 2871: 2870: 2867: 2862: 2861: 2851: 2849: 2848:on May 25, 2013 2840: 2839: 2835: 2822: 2821: 2817: 2807: 2805: 2802:Insideradio.com 2796: 2795: 2791: 2781: 2779: 2776:Insideradio.com 2770: 2769: 2765: 2746: 2745: 2741: 2731: 2729: 2705: 2704: 2700: 2690: 2688: 2680:Dallas Observer 2672: 2671: 2664: 2655: 2654: 2650: 2641: 2640: 2636: 2631:. May 10, 2023. 2627: 2626: 2622: 2613: 2612: 2608: 2599: 2598: 2594: 2585: 2584: 2580: 2548: 2547: 2543: 2533: 2531: 2526: 2525: 2521: 2512: 2511: 2507: 2498: 2497: 2493: 2484: 2483: 2479: 2470: 2469: 2465: 2456: 2455: 2451: 2441: 2439: 2428: 2427: 2423: 2413: 2411: 2402: 2401: 2397: 2387: 2385: 2376: 2375: 2371: 2361: 2359: 2350: 2349: 2345: 2335: 2333: 2325: 2324: 2320: 2310: 2308: 2295: 2294: 2290: 2280: 2278: 2269: 2268: 2264: 2254: 2252: 2243: 2242: 2238: 2228: 2226: 2217: 2216: 2212: 2202: 2200: 2191: 2190: 2186: 2176: 2174: 2165: 2164: 2160: 2153:Wayback Machine 2141:Wayback Machine 2132: 2128: 2111: 2110: 2106: 2096: 2094: 2085: 2084: 2080: 2063: 2062: 2058: 2041: 2040: 2036: 2027: 2026: 2022: 2005: 2004: 2000: 1991: 1990: 1986: 1976: 1974: 1965: 1964: 1960: 1950: 1948: 1939: 1938: 1934: 1924: 1922: 1921:. April 8, 2010 1913: 1912: 1908: 1899: 1895: 1885: 1883: 1874: 1873: 1869: 1856: 1855: 1851: 1841: 1839: 1830: 1829: 1825: 1815: 1813: 1804: 1803: 1799: 1786: 1785: 1781: 1771: 1769: 1761: 1760: 1756: 1746: 1744: 1733: 1732: 1728: 1718: 1716: 1707: 1706: 1702: 1692: 1690: 1682: 1681: 1677: 1667: 1665: 1663:Insideradio.com 1657: 1656: 1652: 1642: 1640: 1639:. June 23, 2016 1631: 1630: 1626: 1613: 1612: 1608: 1594: 1593: 1589: 1575: 1565: 1558: 1556: 1549: 1548: 1544: 1530: 1520: 1513: 1511: 1504: 1503: 1499: 1489: 1487: 1486:(Press release) 1481: 1480: 1476: 1466: 1464: 1463:. June 24, 2016 1459: 1458: 1451: 1440:"Cumulus Media" 1438: 1437: 1433: 1420: 1410: 1403: 1401: 1395: 1394: 1390: 1380: 1378: 1371:bizjournals.com 1365: 1364: 1360: 1350: 1348: 1340: 1339: 1335: 1330: 1326: 1316: 1314: 1309: 1308: 1304: 1294: 1292: 1279: 1278: 1274: 1264: 1262: 1258: 1257: 1253: 1243: 1241: 1236: 1235: 1231: 1221: 1219: 1214: 1213: 1206: 1195:"Cumulus Media" 1193: 1192: 1185: 1176: 1175: 1171: 1162: 1161: 1157: 1144: 1143: 1139: 1129: 1127: 1125:FundingUniverse 1119: 1118: 1111: 1101: 1099: 1090: 1089: 1085: 1075: 1073: 1068: 1067: 1063: 1053: 1051: 1045:"Cumulus Media" 1043: 1042: 1038: 1033: 1021: 1009: 981: 939: 930: 910:Crohn's disease 871: 865: 860: 796: 679: 659:baseball club. 633: 628: 610: 580: 575: 559: 547: 528:In April 2016, 519: 505: 503:Internet debate 473: 454:preferred stock 446: 381: 376: 312: 289: 271: 259: 251: 243: 231: 223: 211: 186:general counsel 179: 169: 153: 146:, Georgia, U.S. 135: 132:Richard Weening 114: 112: 109: 86: 72: 61: 28: 23: 22: 15: 12: 11: 5: 5250: 5248: 5240: 5239: 5234: 5229: 5224: 5219: 5214: 5209: 5199: 5198: 5192: 5191: 5189: 5188: 5178: 5167: 5152: 5149: 5148: 5146: 5145: 5140: 5135: 5129: 5127: 5123: 5122: 5120: 5119: 5109: 5104: 5098: 5096: 5092: 5091: 5089: 5088: 5082: 5080: 5076: 5075: 5073: 5072: 5066: 5063:Country Weekly 5058: 5056: 5049: 5048: 5046: 5045: 5033: 5028: 5022: 5016: 5014: 5012:Radio networks 5008: 5007: 5005: 5004: 4999: 4994: 4989: 4984: 4979: 4974: 4969: 4964: 4959: 4954: 4949: 4944: 4939: 4933: 4928: 4923: 4918: 4913: 4908: 4903: 4898: 4893: 4888: 4883: 4878: 4873: 4868: 4863: 4858: 4853: 4848: 4843: 4838: 4833: 4828: 4823: 4818: 4813: 4808: 4803: 4798: 4793: 4788: 4783: 4778: 4773: 4768: 4763: 4758: 4753: 4748: 4743: 4738: 4733: 4728: 4723: 4718: 4713: 4708: 4703: 4698: 4693: 4688: 4683: 4678: 4673: 4668: 4663: 4658: 4652: 4647: 4642: 4637: 4632: 4627: 4622: 4617: 4612: 4607: 4602: 4596: 4591: 4586: 4581: 4576: 4571: 4566: 4561: 4556: 4551: 4546: 4541: 4536: 4531: 4526: 4520: 4515: 4510: 4505: 4500: 4495: 4490: 4485: 4480: 4475: 4470: 4465: 4460: 4455: 4450: 4445: 4440: 4435: 4430: 4425: 4420: 4415: 4410: 4405: 4400: 4395: 4390: 4385: 4380: 4375: 4370: 4365: 4360: 4355: 4350: 4345: 4340: 4335: 4330: 4325: 4320: 4315: 4310: 4305: 4300: 4295: 4290: 4285: 4280: 4275: 4270: 4265: 4260: 4255: 4250: 4245: 4240: 4235: 4230: 4225: 4220: 4215: 4210: 4205: 4200: 4195: 4190: 4185: 4180: 4175: 4170: 4165: 4160: 4155: 4150: 4145: 4140: 4134: 4129: 4124: 4119: 4114: 4109: 4104: 4099: 4094: 4089: 4084: 4079: 4074: 4069: 4064: 4059: 4054: 4049: 4044: 4039: 4034: 4029: 4024: 4019: 4014: 4009: 4004: 3999: 3994: 3989: 3984: 3979: 3974: 3969: 3964: 3959: 3954: 3949: 3944: 3939: 3934: 3929: 3924: 3919: 3914: 3909: 3904: 3899: 3894: 3889: 3884: 3879: 3874: 3869: 3864: 3859: 3854: 3849: 3844: 3839: 3834: 3829: 3824: 3819: 3814: 3809: 3804: 3799: 3794: 3789: 3784: 3779: 3774: 3769: 3764: 3759: 3754: 3749: 3744: 3739: 3734: 3729: 3724: 3719: 3714: 3709: 3704: 3699: 3694: 3689: 3684: 3679: 3674: 3669: 3664: 3659: 3654: 3649: 3644: 3639: 3634: 3629: 3624: 3619: 3614: 3609: 3604: 3599: 3594: 3589: 3584: 3579: 3574: 3569: 3564: 3559: 3554: 3549: 3544: 3539: 3534: 3529: 3524: 3519: 3514: 3509: 3504: 3499: 3494: 3489: 3484: 3479: 3474: 3469: 3463: 3461: 3453: 3452: 3450: 3449: 3444: 3439: 3434: 3429: 3424: 3419: 3414: 3409: 3404: 3399: 3394: 3389: 3384: 3379: 3374: 3369: 3364: 3359: 3354: 3349: 3344: 3339: 3334: 3329: 3324: 3319: 3314: 3309: 3304: 3299: 3294: 3289: 3284: 3279: 3274: 3269: 3264: 3259: 3254: 3249: 3244: 3239: 3234: 3229: 3224: 3219: 3214: 3209: 3204: 3199: 3194: 3188: 3183: 3178: 3173: 3168: 3163: 3158: 3153: 3148: 3143: 3138: 3133: 3128: 3123: 3118: 3113: 3108: 3103: 3098: 3093: 3088: 3083: 3078: 3073: 3068: 3063: 3058: 3053: 3048: 3043: 3038: 3033: 3028: 3023: 3018: 3013: 3008: 3003: 2998: 2993: 2988: 2983: 2978: 2973: 2968: 2963: 2957: 2955: 2947: 2946: 2941: 2939: 2938: 2931: 2924: 2916: 2910: 2909: 2907: 2906: 2901: 2896: 2891: 2886: 2880: 2877: 2866: 2865:External links 2863: 2860: 2859: 2833: 2815: 2789: 2763: 2739: 2698: 2662: 2648: 2634: 2620: 2617:. May 9, 2023. 2606: 2592: 2589:. May 9, 2023. 2578: 2541: 2519: 2505: 2491: 2477: 2463: 2449: 2421: 2395: 2369: 2343: 2318: 2288: 2262: 2236: 2210: 2184: 2158: 2146:Radio-Info.com 2126: 2117:Radio-Info.com 2104: 2078: 2069:Radio-Info.com 2056: 2047:Radio-Info.com 2034: 2020: 2011:Radio-Info.com 1998: 1984: 1973:. May 12, 2008 1958: 1947:. July 4, 2007 1932: 1906: 1893: 1867: 1849: 1838:. May 19, 2019 1823: 1812:. May 19, 2019 1797: 1779: 1754: 1726: 1700: 1675: 1650: 1624: 1606: 1587: 1542: 1497: 1474: 1449: 1431: 1388: 1358: 1333: 1324: 1302: 1272: 1251: 1229: 1204: 1183: 1169: 1155: 1137: 1109: 1083: 1061: 1035: 1034: 1032: 1029: 1028: 1027: 1020: 1017: 1008: 1005: 989:Macon, Georgia 980: 977: 938: 935: 929: 928:401(k) lawsuit 926: 894:The New Yorker 867:Main article: 864: 861: 859: 856: 820:ABC News Radio 795: 792: 776:Portsmouth, NH 678: 675: 632: 629: 627: 626: 623: 620: 616: 615: 614: 609: 608: 605: 602: 599: 596: 593: 590: 586: 585: 584: 579: 576: 574: 571: 558: 555: 546: 543: 518: 515: 510:dot-com bubble 504: 501: 477:dot-com bubble 472: 469: 445: 442: 418:Hancock Center 398:private equity 380: 377: 375: 372: 320: 319: 310: 306: 305: 300: 294: 293: 290: 287: 284: 283: 280: 276: 275: 264: 256: 255: 244: 239: 236: 235: 224: 219: 216: 215: 204: 200: 199: 194: 190: 189: 154: 151: 148: 147: 141: 137: 136: 134: 133: 130: 126: 124: 120: 119: 106: 102: 101: 96: 92: 91: 84: 78: 77: 62: 57: 54: 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789: 785: 781: 777: 773: 772:Rochester, MN 769: 768:Faribault, MN 765: 761: 760:Kalamazoo, MI 757: 753: 749: 745: 741: 737: 733: 729: 725: 724: 718: 716: 712: 708: 704: 700: 696: 695:Citadel Media 692: 688: 684: 676: 674: 671: 667: 663: 660: 658: 654: 650: 646: 642: 637: 630: 624: 621: 618: 617: 612: 611: 606: 603: 600: 597: 594: 591: 588: 587: 582: 581: 577: 572: 570: 568: 564: 556: 554: 552: 544: 542: 538: 535: 531: 526: 523: 516: 514: 511: 502: 500: 496: 492: 489: 485: 481: 478: 470: 468: 465: 461: 457: 455: 451: 450:common shares 443: 441: 438: 433: 431: 426: 421: 419: 416: 412: 406: 403: 399: 395: 390: 386: 378: 373: 371: 370: 366: 362: 358: 354: 350: 349:media markets 346: 342: 338: 334: 330: 329:United States 326: 317: 311: 307: 304: 301: 299: 295: 291: 285: 281: 277: 265: 262: 257: 245: 242: 237: 225: 222: 217: 205: 201: 198: 195: 191: 187: 183: 177: 173: 167: 163: 159: 155: 149: 145: 142: 138: 131: 128: 127: 125: 121: 107: 103: 100: 97: 93: 89: 85: 83: 79: 75: 70: 66: 63: 60: 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Retrieved 1048: 1039: 1014: 1010: 1007:Restatements 1001: 982: 962: 951:Dan McDowell 940: 931: 922: 903: 892: 886: 883: 872: 836: 817: 800:Family Radio 797: 752:Portland, ME 748:Waterloo, IA 736:Rockford, IL 721: 719: 680: 672: 668: 664: 661: 638: 634: 560: 548: 539: 527: 524: 520: 506: 497: 493: 490: 486: 482: 474: 466: 462: 458: 447: 434: 422: 407: 394:Toledo, Ohio 382: 368: 364: 360: 353:Westwood One 324: 323: 314:cumulusmedia 303:Westwood One 298:Subsidiaries 274: (FY23) 261:Total assets 254: (FY23) 234: (FY23) 214: (FY23) 140:Headquarters 99:Broadcasting 88:US2310828015 47:Company type 29: 5173:Mohegan Sun 5159:iHeartMedia 5069:iHeartRadio 5041:see navpage 2899:SEC filings 2534:January 21, 2388:January 17, 2362:January 17, 2255:January 21, 1772:January 11, 1747:January 15, 1719:January 15, 1444:cumulus.com 1422:|last= 1049:cumulus.com 997:forfeitures 979:FCC actions 889:Dan Bongino 848:iHeartRadio 828:white label 780:Dubuque, IA 764:Lansing, MI 732:Danbury, CT 728:Dial Global 345:iHeartMedia 343:and behind 5201:Categories 2573:1330888409 2408:TechCrunch 2223:All Access 2203:August 30, 2177:August 30, 2171:All Access 1904:. p. F-14. 1031:References 573:Leadership 241:Net income 152:Key people 5182:Owned by 5157:Owned by 4935:WXKR-HD2/ 2884:Bloomberg 2808:August 7, 2782:August 7, 2753:Radio Ink 2732:August 3, 2722:0190-8286 2691:August 3, 2565:0190-8286 2382:Billboard 2275:Billboard 1977:March 23, 1951:March 23, 1925:March 23, 1643:August 7, 1637:Radio Ink 1559:August 7, 1514:August 7, 1265:March 28, 1076:March 23, 699:ABC Radio 534:antitrust 415:Chicago's 272:US$ 7,009 232:US$ 1,035 162:president 76:component 71:(Class A) 59:Traded as 5126:See also 3460:stations 3457:FM radio 2954:stations 2951:AM radio 2726:Archived 2685:Archived 2149:Archived 2137:Archived 1842:June 16, 1816:June 16, 1693:July 18, 1569:cite web 1524:cite web 1490:June 28, 1467:June 28, 1381:July 27, 1218:. NASDAQ 1019:See also 843:freemium 565:and the 193:Services 166:director 123:Founders 95:Industry 5086:Nash TV 4967:WYNN-FM 4916:WXBM-FM 4901:WWWW-FM 4881:WWQQ-FM 4871:WWLS-FM 4831:WWFN-FM 4826:WWFF-FM 4821:WWCK-FM 4816:WVNN-FM 4811:WVLK-FM 4786:WTPA-FM 4766:WSSX-FM 4711:WROK-FM 4686:WQXA-FM 4640:WQGN-FM 4635:WPRO-FM 4620:WORC-FM 4594:WOFX-FM 4574:WNNK-FM 4559:WNML-FM 4483:WMDH-FM 4478:WMAL-FM 4458:WLWI-FM 4418:WLAW-FM 4413:WLAV-FM 4408:WKXS-FM 4378:WKOR-FM 4358:WKHX-FM 4338:WJOX-FM 4323:WJCL-FM 4318:WJBC-FM 4298:WIVK-FM 4293:WIOV-FM 4278:WHTT-FM 4263:WHOT-FM 4248:WHHY-FM 4223:WGOW-FM 4158:WEAS-FM 4153:WEAN-FM 4148:WDZZ-FM 4137:WDUZ-FM 4132:WDLT-FM 4127:WDEN-FM 4082:WBLX-FM 4067:WBAP-FM 4062:WARM-FM 4057:WAQX-FM 4052:WAOA-FM 4042:KZRK-FM 4032:KZEL-FM 3967:KVMA-FM 3952:KUBL-FM 3947:KTOP-FM 3932:KTCK-FM 3882:KRMD-FM 3872:KQXY-FM 3867:KQXL-FM 3862:KQXC-FM 3857:KQSM-FM 3852:KQRS-FM 3842:KQIZ-FM 3827:KPUR-FM 3777:KNEK-FM 3772:KNBR-FM 3762:KMJJ-FM 3737:KMCK-FM 3732:KMAJ-FM 3707:KKOB-FM 3647:KIIM-FM 3577:KCMO-FM 3547:KBUL-FM 3542:KBOI-FM 3517:KBBY-FM 3512:KBBQ-FM 3502:KAYD-FM 3497:KATT-FM 3487:KATC-FM 3477:KARN-FM 3472:KAMO-FM 2894:Reuters 2436:Variety 812:Nash FM 711:WABC-AM 703:KABC-AM 578:Current 379:Origins 374:History 357:Atlanta 309:Website 203:Revenue 144:Atlanta 115:1998-08 113: ( 105:Founded 67::  5055:assets 5053:Online 4937:W264AK 4751:WSM-FM 4443:WLS-FM 3757:KMJ-FM 3467:K279BI 2904:Yahoo! 2889:Google 2720:  2571:  2563:  1150:swib-1 943:Dallas 788:Fresno 774:, and 707:WLS-AM 341:Audacy 252:US$ 18 65:Nasdaq 51:Public 1792:MEAWW 1240:. 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