|Bid||5.00 x 1000|
|Ask||5.52 x 1100|
|Day's Range||5.12 - 5.52|
|52 Week Range||3.00 - 18.15|
|Beta (5Y Monthly)||1.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.67|
ATLANTA, Oct. 09, 2020 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) will host a conference call on Thursday, November 5th at 8:30 AM ET to discuss its third quarter 2020 operating results. A press release containing a summary of these results will be issued before the call at approximately 8:00 AM ET. The conference call will be broadcast live in listen-only mode through a link on the Company’s investor relations website at www.cumulusmedia.com/investors. This link can also be used to access a recording of the call, which will be available shortly following its completion.To join by phone, domestic callers should dial 833-614-1549 and international callers should dial 914-987-7288. If prompted, the conference ID number is 8478237. Please call five to ten minutes in advance to ensure that you are connected prior to the call.About CUMULUS MEDIACUMULUS MEDIA 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 424 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 Academy of 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 personal connections, local impact and national reach through on-air and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.Contact Information Investor Relations IR@cumulus.com 404-260-6600
Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced that the Company completed the initial closing of its tower portfolio monetization transaction for $208 million in gross proceeds on September 30, 2020. As defined in the Debt Agreements, net proceeds of approximately $64 million from assets being sold and not being leased back (the “Sale Proceeds”) and net proceeds of approximately $96 million from assets being sold and leased back (the “Sale-Leaseback Proceeds”) are required to pay down the Term Loan and be applied to a tender offer with respect to the 6.75% Notes on a pro rata basis.
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. Actual results may differ materially from the results expressed or implied in forward-looking statements.