Profile: Cumulus Media Inc (CMLS.OQ)
27 Mar 2015
Cumulus Media Inc. (Cumulus), incorporated on November 8, 2001, owns and operates commercial radio station clusters throughout the United States. The Company’s products lines include broadcast advertising, digital advertising, political advertising, and non-advertising based license fees. The Company is engaged in the sale of local, regional, and national advertising for broadcast on its radio stations. It is also engaged in the sale of network programming and services. Cumulus is also a provider of country music and lifestyle content through its NASH brand.
The Company’s categories of advertisers consist of amusement and recreation, arts and entertainment, automotive dealers, banking and mortgage, food and beverage services, furniture and home furnishings, healthcare services and telecommunications. As of September 30, 2014, the Company owned or operated approximately 460 radio stations (including under local marketing agreements (LMAs)) in 90 United States media markets and operated fully distributed programming network serving more than 9,000 affiliates nationwide, which contains a portfolio of media, sports and entertainment brands. On August 1, 2014, the Company completed the purchase of Wise Brother Media, Inc. for $5.5 million. In December 2013, Cumulus completed the acquisition of WestwoodOne, Inc. On December 12, 2013, Cumulus acquired the entire interest of Dial Global Inc. from The Gores Group LLC.
The Company sells advertising and promotional opportunities across its streaming audio network, digital commerce platform, websites and mobile applications. It operates streaming audio advertising network in the United States, including owned and operated internet radio simulcast stations, Rdio.com, and third party internet companies with whom the Company has advertising reseller agreements. Cumulus’ digital commerce platform utilizes couponing and discount daily deals to create promotional opportunities for local and national merchants under Sweetjack, SweetDeals and Incentrev brands. The Company also sells banner and other display advertisements across more than 400 local radio station websites, mobile applications, and ancillary custom client microsites.
Cumulus Media Inc
3280 Peachtree Rd NW Suite 2300
ATLANTA GA 30305-2463