Among the 962 affiliates impacted by the closure of Westwood One News, scheduled for August 30, are Cumulus Media’s WLS-AM in Chicago, KGO-AM in San Francisco, KABC-AM in Los Angeles, and WJR-AM in Detroit. It’s Looking Good. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Westwood One’s reporters include Steve Kastenbaum, Bob Costantini, Jim Roope, Clayton Neville and Linda Kenyon. CUMULUS MEDIA Reports Operating Results for the First Quarter 2020. Cumulus Media Inc., an audio-first media and entertainment company, owns and operates radio stations in the United States. Cumulus Shares Rebound On Word of WWO News Closure, Sign up for our newsletters for the rest of the headlines, оформить заявку онлайн на потребительский кредит, ‘K5’ Alive On Hawai’i Thanks To Gray’s KSIX Pick, Media Stocks End Week On High Note With Good Gilead News. Here’s a First: Gray Provides Q3 Guidance. Cumulus Media serves clients in the United States. Berner received the one-time cash payout “in recognition of, among other things, her exceptional... Former Cumulus Chief Executive Lew Dickey has penned a tome about the media business, with some gnarly words for those in terrestrial radio broadcasting. On low volume of just under 50,000 shares, CMLS was up 53 cents to $4.19 as of 11:16am Eastern. Now he has a surprising new prediction for 2020. She did say the company intends to bring them back when normal business operations resume. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Unlike CBS News Radio or ABC News Radio, Westwood One News distinguishes itself by offering fully customizable locally branded news updates at the top and bottom of each hour, day and night, seven days a week. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The information we reported was gathered by reporters at our co-owned publication, Radio Ink, on Thursday evening. Westwood One President Suzanne Grimes said in the letter, “As you can imagine, this was an extraordinarily difficult decision not only given the strength and quality of our award-winning news product, but also the depth and experience of the impeccable Westwood One News team.”. Suite 2200 The radio mogul has finally unloaded his 3,400-acre spread outside of Santa... Cumulus Media filed a pre-pack Chapter 11 petition that aims to reduce its debt load by $1 billion. Red Apple Media, a subsidiary of... Don Imus’ ranch has finally sold — to another rich guy who likes to dress like a cowboy. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. ATLANTA, May 11, 2020 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” "CUMULUS MEDIA," “we,” “us,” or “our”) today announced operating results for the three months ended March 31, 2020. View the latest Cumulus Media Inc. (CMLS) stock price, news, historical charts, analyst ratings and financial information from WSJ. This indicates that inventors likely seek a leaner, more efficient operation at Cumulus. United States, CUMULUS MEDIA Announces Conference Call to Discuss Third Quarter 2020 Operating Results, CUMULUS MEDIA Completes Initial Closing of Tower Portfolio Monetization Transaction for $208 Million, Former Showtime Chairman and CEO Matthew Blank Joins CuriosityStream Executive Board of Directors, CUMULUS MEDIA Reports Operating Results for the Second Quarter 2020 and Announces Definitive Agreement to Monetize Tower, CUMULUS MEDIA Announces Conference Call to Discuss Second Quarter 2020 Operating Results, Cumulus Media Completes Sale of Land in Bethesda, Maryland to Toll Brothers for $74.1 Million, CUMULUS MEDIA Adopts Short-Term Shareholder Rights Plan, CUMULUS MEDIA Reports Operating Results for the First Quarter 2020, CUMULUS MEDIA Announces Conference Call to Discuss First Quarter 2020 Operating Results, NYSE ANNOUNCES QUARTERLY CHANGES TO NYSE FAMILY OF INDEXES. Sitemap None of you deserves this.". © 2020 NYP Holdings, Inc. All Rights Reserved Under the plan, over 80% of salaried employees will be taking three individual weeks of furlough (no work, no pay). Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Do the numbers hold clues to what lies ahead for the stock? Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. The three weeks will be taken in one week installments over a 15-week period beginning April 20th. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. What’s On Tap Next Thursday? Subscribe to Premium to view Fair Value for CMLS. Before we start, please note that certain statements in today's press release and discussed on this call may constitute forward-looking statements under federal securities laws. Privacy Notice Cumulus Media stock was up some 12.3% in midday trading Friday, as investors reacted positively to two key announcements made internally at the audio media company led by CEO Mary Berner. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. 5.38 0.00 (0.0%) Upgrade to Real-Time Premarket . Cumulus CEO Mary Berner laid out the details for a … Affiliates also include Hubbard Radio’s WTOP-FM in Washington, D.C., and Entercom-owned KYW-AM in Philadelphia. “It has been a pleasure leading this division of great broadcast journalists,” Tessler said. All rights reserved. Desperate Cumulus CEO Mary Berner wants her staffers to become radio-active. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Your California Privacy Rights Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. The Daily Intelligence Report delivered to your inbox. Cumulus Media Inc. operates as a radio broadcasting company. (adsbygoogle = window.adsbygoogle || []).push({}); Radio news and headlines delivered right to your e-mail box -- and it's free. May not be copied or duplicated without express written permission. Two additional groups will also be affected including a number of people in positions which can't be covered by others during their absence. 3280 Peachtree Road Northwest At radio giant Cumulus Media, things have gone from bad to worse. Your Ad Choices Morningstar | A Weekly Summary of Stock Ideas and Developments in the Companies We Cover, Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGM - NasdaqGM Real Time Price. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Cumulus CEO Mary Berner laid out the details for a plan she said "was not easy but necessary." Westwood One News EVP Bart Tessler thanked the 962 stations airing WWO content and the Affiliate Sales team. Actual results may differ materially from the results expressed or implied in forward-looking statements. CUMULUS MEDIA engages listeners with high-quality local programming through 424 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news… Source: Kantar Media. Like many other companies in the industry, Cumulus Media finds itself instituting layoffs, furloughs and pay cuts due to the financial impact of the COVID-19 pandemic. Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright 2019© Refinitiv. The static is getting louder at slumping radio station giant Cumulus Media. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. First, Westwood One News, which brags on its website that it is the winner “of more industry awards in 2019 and 2020 than any other radio network” and is known for offering reports that can be branded for each affiliate radio station, is closing its doors. Securities Registration: Employee Benefit Plan (s-8) August 10 2020 - 10:18AM Edgar (US Regulatory) As filed with the Securities and Exchange Commission on August 10, 2020. Hispanic Radio Conference LIVE: Programming In a Pandemic World, CBS, FOX Pick Up Some Former WWO News Affiliates, Business Development Manager: North America, Gray DC Bureau – Off-Air Multimedia Journalist, Senior TV News Manager, Innovation News Center. Calling it a COVID-19 people plan, Berner said the plan was temporary. As a soon to be former employee of Westwood One News, I feel a need to point out a major inaccuracy in this report. Bloomberg Radio also utilizes Westwood One News, according to the WWO website. While these individuals will likely be departing, aside from Neville, Berner did note that all temporary furloughs and pay cuts fueled by the COVID-19 pandemic and its economic wrath will come to an end on July 31 for parent company Cumulus. When normal business operations resume affected including a number of people in positions which ca n't covered... Operations resume value for CMLS plan, Berner said the plan was temporary Inc. ( )! 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