Movers and SHAKERS
Cumulus Media Inc. (CMLS)
A Wynn Win
CUMULUS MEDIA, Inc. (NASDAQ: CMLS) 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 428 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 GRAMMYS, the American 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 local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
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Wins significant advertising support. Cumulus Media struck a partnership with WynnBET, a mobile sports betting app from Wynn Resorts, becoming one of the company's largest advertisers. The value of the agreement was undisclosed, but is expected to include both cash, (the majority of the deal), and stock in WynnBET. The partnership is expected to support multiple platforms at the company including the Westwood One Networks and its Digital and Local Radio brands.
Inside the partnership's details. The deal is a significant win for Cumulus given that Wynn was not a significant advertiser at the company. Furthermore, this is a non-exclusive agreement and management indicated that there is significant advertising inventory for additional relationships, including other sports betting companies. In addition, the partnership is expected to be a multi-year ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.