Cumulus Media Revenue Up In Q3 Thanks To Citadel Deal
November 5, 2012

Cumulus Media has reported its third quarter revenue results, and with the addition of stations purchased from Citadel, as well as its deal with Townsquare Media, overall revenue climbed by over 120 percent to $275.35 million. Third quarter revenue was $124.79 million in 2011. This increase includes a $4.6 million increase in political ad dollars. However, on a pro forma basis, net revenue was down by 4.5 percent to just under $276.2 million in Q3. Net income in Q3, including the added Citadel stations, was down 5.9 percent to just over $56 million from $59.54 million a year ago.

Cumulus Chairman/CEO Lew Dickey stated, "This quarter marked the first anniversary of our transformative merger. We are pleased to report that the integration is largely complete, and our identified synergies were materially exceeded six months ahead of schedule. We are making excellent progress in the turnaround of 10 underperforming stations which account for 100 percent of our revenue decline, and expect them to post positive revenue growth in 2013."




 
Breaking News
iHeartMedia San Francisco Names Mark Adams PD of KYLD & KIOI
Premiere Networks Promotes Claudine Cazian To VP/Programming & Branded Entertainment
Entercom Names Carlos Lamadrid VP/National Sales, Strategic Partnerships
Pandora Hires Steve Bené As General Counsel
In Brief - October 20, 2014
October 17, 2014
In Brief - October 17, 2014
The Week In Review: 10/13-10/17
October 16, 2014
Michael Jordan Named PD At WAMZ
Dan Chertoff Named VP, A&R, RCA Records
Greater Media Chairman, CEO Peter Smyth Named Among The 2014 Giants of Broadcasting
Joe Cuello Joins TuneCore As Chief Creative Officer
Clip Interactive Reports Milestones In Revenue, MAUs, Engagement For Radio Station Partners
iHeartMedia Wins Gold Award At Healthcare Marketing IMPACT Awards
In Brief - October 16, 2014
October 15, 2014
Gayle Troberman Named iHeartMedia EVP And Chief Marketing Officer
John Geary Appointed Market President For iHeartMedia Sacramento
Sun & Fun Media Partners With Premiere Networks For Ad Sales
TuneCore Pays Artists $32.7 Million In Q3 2014 for Music Distribution, Expands Music Publishing Catalog
In Brief - October 15, 2014
October 14, 2014
Warner Music Group Broadens Senior Management Team
Tribune Media Announces $400 Million Stock Repurchase Program
New Generation Radio Partners With Colbert Media Group
In Brief - October 14, 2014
October 13, 2014
Steve Davis Named VP/Programming, CBS Radio Washington, D.C.
Capitol Music Group Names Ambrosia Healy SVP/Head Of Media Strategy & Relations
Music News
U2 Sits Down For Intimate Radio Special
Quick Hits: Coldplay, Gwen Stefani, Foo Fighters, Dropkick Murphys, Madisen Ward and the Mama Bear
One Direction Reveal Four Tracklist
The Week In Review: 10/13-10/17
Quick Hits: Iggy Azalea, U2, Snoop Dogg / Pharrell, iHeartRadio Fiesta Latina
Pitbull Goes Global In November
Quick Hits: Sam Smith, MTV EMAs, Songwriters Hall of Fame, The Pixies, Fall Out Boy, Bonnaroo
Jason Aldean, Hozier Top Album Sales Chart
Quick Hits: Foo Fighters, Prince, Ariana Grande
Taylor Swift Taps Into the '80s For "Out Of The Woods"
Quick Hits: One Direction, Christina Aguilera / The Voice, Jack White, Kelly Clarkson, T.I., Wilco
Iggy Azalea Leads 2014 AMA Nominees
Quick Hits: Foo Fighters, Soul Train Awards, Iggy Azalea, Noel Gallagher's High Flying Birds, Alicia Keys & David Byrne, Forbes Under 30 Music Festival
THE WHO HITS 50! Tour Set For North America 2015
The Week In Review: 10/6-10/10
FMQB NOW

Chris P, PD
KRQQ & KMIY/Tucson

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!