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
Entercom Sacramento Names Lance Richard VP/Market Manager
The Week In Review: 4/13-4/17
Albie Dee Named Program Director of WOCQ/Ocean City-Salisbury
FCC Chairman Tom Wheeler Announces Staff Changes
Warner Bros. Records Bolsters Brand Partnerships & Creative Synch Licensing Team
In Brief - April 17, 2015
April 16, 2015
Sean Shannon Named VP/Market Manager For Cumulus Atlanta
Sara Morris Joins iHeartMedia's Government Affairs Team
TuneCore Combines Forces With Believe Digital
Spotify Launches Playlist Targeting For Brands
AudioHQ & TuneIn Announce Exclusive In-Stream Audio Ad Sales Partnership
In Brief - April 16, 2015
April 15, 2015
UMG And Class Action Attorneys Propose Settlement Agreement On Digital Download Royalties
WMTX/Tampa Names Randi West Program Director
John Boyle Appointed PD At WSJZ/Melbourne
Marketron's Mediascape Platform Expands With Launch Of Mediascape Orders 360
In Brief - April 15, 2015
April 14, 2015
Rick Vaughn Joins Cumulus Salt Lake City As PD Of KBER & KHTB
Salem Communications Expands Partnership With Clip Interactive
CÜR Media Names JP Lespinasse Chief Marketing Officer
2015 NAB Crystal Radio Award Winners Announced
In Brief - April 14, 2015
April 13, 2015
CBS RADIO President/CEO Dan Mason Announces Retirement
The Week In Review: 4/6-4/10
Andre J. Fernandez Named President Of CBS RADIO
Def Jam Recordings Names Faisel Durrani EVP/GM
Music News
Green Day, Ringo & More Inducted Into The Rock Hall Of Fame
Quick Hits: Giorgio Moroder / Britney Spears, Green Day, Black Sabbath, Deftones & Incubus
Quick Hits: Black Sabbath & Bill Ward, Converse Rubber Tracks Live festival, Summer Set Music & Camping Festival, Sia, Josh Groban
Thanks To Wiz Khalifa Hit, Furious 7 Soundtrack Hits #1
Quick Hits: Iggy Azalea, Glastonbury, Florence + The Machine, Summerfest, Hinder
Drake Plans Summer Jungle Tour
Quick Hits: One Direction, Jack White, Billboard Music Awards, 10 Years, Loudwire Music Festival, Pete Townshend & Eddie Vedder, Percy Sledge
Mariah Carey's Epic Deal Is Official
Quick Hits: Shinedown, Mumford & Sons, Justin Timberlake, Sublime With Rome, David Letterman musical guests, Mayhem Festival
Mumford & Sons Explain Sonic Change
Quick Hits: The Grateful Dead, AC/DC, Blur
Miley Cyrus To Induct Joan Jett at Rock Hall
Quick Hits: Mumford & Sons, Black Sabbath, Tyler, the Creator
Wale's Seinfeld-Inspired Album About Nothing Debuts At #1
Quick Hits: Quebec City Summer Festival, Death Cab For Cutie, Mariah Carey, Vans Warped Tour
FMQB NOW

Skywalker, APD
WSPK (K104)
Hudson Valley

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!