Cumulus Media Reports Q1 Fiscal Results
April 29, 2014

Cumulus Media has reported its financial results for the first quarter of 2014, and while net revenue was up in the quarter, the net loss in Q1 grew as well. On an actual basis, net revenues for the quarter was up 34.1 percent to $292 million, compared to $217.8 million a year ago. The growth was attributed to increases in broadcast advertising, digital advertising, political advertising and license fees and other revenue, primarily due to the addition of WestwoodOne, which was officially acquired by Cumulus in December.

On a pro forma basis (excluding the WW1 deal), net revenues for the quarter was up by $10.5 million, or 3.7 percent, to $292 million, compared to $281.5 million a year ago. However, Cumulus reported a $9.27 million loss in Q1 2014, compared to a net loss of $8.99 million a year ago.

Chairman/CEO Lew Dickey stated, "This quarter was marked by the accelerated integration of WestwoodOne. We now expect to complete the two-year integration approximately three quarters ahead of time and will exceed the stated synergies by 5-10 percent."




 
Breaking News
Epic Records Names Breyon Prescott Head Of Urban A&R
The Week In Review: 2/23-2/27
Westwood One Rolls Out National Expansion Of The Jonathon Brandmeier Show
In Brief - February 27, 2015
February 26, 2015
Mel Karmazin To Be Honored By The Broadcasters Foundation Of America
Cox Media Group Names Rachel Williamson Director/Digital Revenue Development
New Generation Radio Launches Virtual Jock
Benztown Teams With Vipology To Bring Cost-Effective Websites To Radio
In Brief - February 26, 2015
February 25, 2015
iHeartMedia Announces Executive Changes
NAB Statement On Introduction Of Local Radio Freedom Act In House, Senate
Report: Radio’s 2015 Digital Revenue Poised For Double-Digit Growth
Coleman Insights, Jacobs Media Explore The Great Pyramids Of Radio
Republic Records Names Patch Culbertson Director of A&R
In Brief - February 25, 2015
February 24, 2015
106.1 KISS FM Changes Name To 106.1 LAURA FM
In Brief - February 24, 2015
February 23, 2015
Industry-Wide Consumer Awareness Campaign Launches For NextRadio
Jake Wisely Appointed CEO Of The Bicycle Music Company
Westwood One Hires Douglas Johnston As EVP/Sales
The Bobby Bones Show Brings Ask Anything's Fan-Driven Artist Chats To Country Fans Nationwide
Salem Communications Corporation Becomes Salem Media Group
In Brief - February 23, 2015
February 20, 2015
eQB NOW
The Week In Review: 2/16-2/20
Music News
All Apologies From Kanye West
The Week In Review: 2/23-2/27
FMQB Retro-Active: Aerosmith's Joey Kramer Talks Donington DVD, The Beatles, and Rockin and Roastin Coffee
Quick Hits: Mumford & Sons, Madonna, Beale Street Music Festival, Tool
Ed Sheeran, Sam Smith Rule BRIT Awards
Quick Hits: Foo Fighters, Carly Rae Jepsen, The Airborne Toxic Event, Echosmith, Finding Neverland Album with John Legend & Rita Ora
Imagine Dragons Roar To Top Debut
Quick Hits: U2, Firefly Festival, Nico & Vinz, Lady Gaga, Three Days Grace, Free Press Summer Festival
Sam Smith Set For Another U.S. Road Trip
Quick Hits: One Direction, Lorde, Brandon Flowers, Redfoo, Fuji Rock Festival
Quick Hits: John Legend & Common / The Oscars, Ed Sheeran, In This Moment, Passion Pit, Kaaboo Del Mar Festival, Pixies
Kanye Talks New Album & More With Power 105.1's Breakfast Club
The Week In Review: 2/16-2/20
Quick Hits: Foo Fighters / Sonic Highways, Coldplay, Squamish Valley Music Festival
Lil Wayne Working Up Free Weezy Album
FMQB NOW

Rob Roberts
OM/Cumulus Atlanta

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!