{"id":4246,"date":"2012-09-18T20:27:30","date_gmt":"2012-09-19T00:27:30","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=4246"},"modified":"2012-12-20T23:14:21","modified_gmt":"2012-12-21T04:14:21","slug":"cumulus-lauren","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2012\/09\/18\/cumulus-lauren\/","title":{"rendered":"Cumulus Media Networks"},"content":{"rendered":"
by Lauren Rush<\/pre>\n
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Courtesy of All Access Music Group [1]<\/p><\/div>Executives<\/strong><\/p>\n
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Photo courtesy of Cumulus Media Network [2]<\/p><\/div>\n
Lewis W. Dickey, Jr. \u2013 Chairman, President and CEO of Cumulus Media. He co-founded the company in 1997 and became its CEO in June of 2000.<\/p>\n
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Photo courtesy of Cumulus Media Network [3]<\/p><\/div>\n
Jonathan G. Pinch- Executive Vice-President and Co-Chief Operating Officer. He joined Cumulus in December 2000 and prior to this was the President of Clear Channel International Radio.<\/p>\n
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Photo courtesy of Cumulus Media Network [4]<\/p><\/div>\n
John W. Dickey- Executive Vice-President and Co-Chief Operating Officer. He joined Cumulus in 1998.<\/p>\n
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Photo courtesy of Cumulus Media Network [5]<\/p><\/div>\n
Joseph P. Hannan- Senior Vice-President, Treasurer and CFO. He joined Cumulus in April 2008.
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Corporate offices:\u00a0 <\/strong><\/p>\n
3280 Peachtree Toad, NW Suite 2300<\/p>\n
Atlanta, Georgia 30305<\/p>\n
Ph. (404) 949-0700<\/p>\n
Overview\/History <\/strong><\/p>\n
Cumulus Media Network is a company that runs approximately 525 stations within 110 cities in the US1<\/sup>. They also have more than 4,500 affiliate radio stations; through these means they reach around 140 listeners above the age of 12 every week2<\/sup>.\u00a0 The company was founded in 1998 and works as developers of original content and as syndicators. As of 2011 Cumulus acquired Citadel Broadcasting Corporation, making Cumulus the largest pure-play radio company and the second largest operator of radio stations in the US 1, 4<\/sup>.\u00a0 The most famous programs and affiliates that Cumulus airs include: The Mike Huckabee show, A Better Life With Dr. Sanjay Gupta, Perez Nights Live, ABC News Radio, CBS Sports Radio, along with many others3<\/sup>. Furthermore, they now have many Spanish language programs broadcasting across the country. \u00a0In addition, Cumulus operates national scale digital and mobile platforms with websites that deliver over 70 million page views per month as well as the third largest radio-streaming network, Cumulus Streaming<\/p>\n
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Courtesy of Billboard [6]<\/p><\/div>Network, in the US according to Triton Digital10<\/sup>. Also in 2011,\u00a0 Cumulus partnered with other top radio company, Clear Channel Media and Entertainment, to allow Cumulus network programs to be streamed on Clear Channels iHeartRadio app and website and for Clear Channel to give ad space to SweetJack, Cumulus\u2019s daily deals program5<\/sup>. \u00a0Cumulus prides itself on its local and national advertising space stating, \u201chigh-impact local marketing solutions\u2026help our customers build strong brands and tap into over $4 trillion of local spending power\u201d1<\/sup>.<\/p>\n
Finances<\/strong><\/p>\n
Cumulus as of Thursday December 6th<\/sup> was selling on the New York Stock Exchange for $2.25 a share6<\/sup><\/strong>. However, like many companies in the current economy has been on a steady decline since its being priced around $22 a share in 200420<\/sup> On November 5th<\/sup> Lew Dickey, CEO, announced the third quarter results, which showed an increase in net revenue, up 120.7%, or $1.50.6 million from $124.8 million to $275.4 million7<\/sup>. However, earnings declined 5.9% from $59.5 million in 2011 to $56 million this quarter. Dickey pointed out that this quarter was the first anniversary of the Cumulus\/Citadel merger and that integration was mostly complete. Plus he also made reference to the fact they the company is hopeful in its \u201cturnaround\u201d of 10 under performing stations that equate to 100% of revenue loss that they believe will be restored to growth in revenue in 20138<\/sup>.<\/p>\n
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Chart courtesy of Bloomberg [7]<\/p><\/div>Recent News <\/strong><\/p>\n
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Courtesy of Top News UK [8]<\/p><\/div>In accordance with its new acquisition of Citadel Broadcasting Corporation, Cumulus\u2019s stock price rose to $2.98 in September. This was the highest the stock has been since October 2009. CRT capital Group LCC commented, \u201cthe company’s cost-savings forecast with the acquisition may be \u2018understated\u2019\u201d9<\/sup>.<\/p>\n
Another development that happened in September was Marketron\u2019s interface connection between its Network Connect service and Cumulus Media Networks\u2019 traffic system10<\/sup>. This service automates and facilitates network orders and scheduling at an advanced technological level. Therefore allowing \u201cvaluable and efficient workflow\u201d for affiliates and advertisers that work with Cumulus10<\/sup>.<\/p>\n
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Courtesy of The Conservative Beacon [9]<\/p><\/div>On October 17th<\/sup>, Cumulus announced that it would be adding a new talk show, \u201cMichael Savage\u2019s The Savage Nation\u201d, to air on stations across the country.\u00a0 Michael Savage is an author of 28 books and is ranked as the third most listened to radio talk show over broadcast and is ranked first via online streaming. Savage is a graduate from UC Berkeley. His show consists of politics, American conservative culture and values, and the ways in which these things are changing within the country. Cumulus hopes this acquisition will bring many new listeners and lead them toward their goal of having \u201cradio\u2019s most compelling mix of show hosts\u201d11<\/sup>.<\/p>\n
The Savage Nation Full Show from November 26<\/a> [10]<\/p>\n
Along with progressive talk shows and hosts, Cumulus is trying to compete in the sports format by dropping ESPN radio from 47 stations<\/p>\n
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Courtesy of CBS Radio [11]<\/p><\/div>and exclusively syndicating CBS Sports Radio12<\/sup> . Beginning on January 2nd<\/sup>. CBS Sports Radio will air on approximately 100 stations, including the major markets of New York, Boston, and Dallas. These programs are estimated to reach 10 million households12<\/sup> . However, it is not clear how much of a success CBS Sports Radio will be because ESPN radio still has more station affiliates and total listeners. Plus NBC also launched a sports radio network this fall with NFL rights12<\/sup>. However, Cumulus has signed a 12-year contract extension with the San Francisco 49ers football team. This allows the games to continue to be broadcast through 2023 on three Cumulus stations in the Bay Area10<\/sup>.<\/p>\n
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Damon Amendolara
Courtesy of The DA Show [12]<\/p><\/div>\n
Two new changes that will be launching on CBS Sports Radio are \u201cThe D.A. Show\u201d and three new hosts for the morning drive13, 14<\/sup>. \u201cThe D.A. Show\u201d was announced on November 16th<\/sup> and will debut Wednesday January 2, 2013. It will be available in 12 major markets across the country, including Boston, Detroit, Dallas, Houston, Washington D.C., and more. The host will be Damon Amendolara who was a previous host on CBS Radio Boston\u2019s WBZ-FM and has had many other positions within the Boston, Miami, and Kansas City areas. He is a graduate from Syracuse University13<\/sup>. The new hosts of the morning drive were<\/p>\n
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Tiki Barber
Courtesy of USA Today [13]<\/p><\/div>announced on November 26th<\/sup>and they will include Tiki Barber, Brandon Tierney and Dana Jacobson. Barber was a professional football player with the New York Giants, while Tierney and Jacobson both already have prolific careers as broadcasters and reporters14<\/sup>.<\/p>\n
Along with the third quarter reports Lew Dickey announced that Cumulus received $4.3 million from political ad revenue23<\/sup>. However, Dickey was disappointed with this outcome since they had received $5 million from the same quarter in 2010. One explanation given for this downturn was the amount of experimentation with social media that occurred during this election, which was greater than ever before. Although Cumulus, and radio in general, did not profit too heavily from this seasons elections, Dickey told the Wall Street Journal that he believes \u201cradio can do a better job of selling itself\u201d in the future and \u201cperhaps we can change [sales] in the next cycle23<\/sup>.<\/p>\n
Cumulus announced on November 26th<\/sup> that JT Batson would be appointed as the company\u2019s first Chief Revenue Officer. He would direct sales strategy and operations for their broadcast, commerce, events, publishing, and digital platforms. Batson\u2019s previous positions include: Chief Strategy Officer at Mediaocean, an advertising systems provider,<\/p>\n
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JT Batson
Courtesy of Radio Ink [14]<\/p><\/div>and facilitation of the merger between Donovan Data Systems and Mediabank. He also worked on marketing for Mozilla Firefox. Batson is a graduate from Stanford University15<\/sup>. Prior to this major announcement, on November 13th<\/sup>, Cumulus also announced promotions of Bob Raleigh and Davey Morris to Corporate Program Directors14<\/sup>.<\/p>\n
Along with these corporate announcements Cumulus made some regional changes as well this fall. In September, they launched a new Adult Hits station in Atlanta16<\/sup> as well as flipping a Modern Rock station to Active Rock format, also in Atlanta 17<\/sup>.\u00a0 In October, Cumulus published that it is purchasing WFME-FM in the New York metro area but has not released format plans18<\/sup>. Plus, Ann McManus was named the Regional Vice President of Northeast Cumulus markets on October 18th<\/sup>. Markets included are: Bridgeport, New London, Westchester and Poughkeepsie. Some disappointing news came to Cumulus on November 9th<\/sup> when Steve Borneman, their New York Market Manager moved to Clear Channel Media and Entertainment19<\/sup>, the only company more prolific in radio than Cumulus and their fiercest competitor. Lastly Scott Jameson replaced Dave Hamilton on December 3rd<\/sup> as the OM of Cumulus Media\u2019s Minneapolis three-station market21<\/sup>.<\/p>\n
Most recently many of Cumulus\u2019 AC stations across the country have switched to all Christmas music formats for the holiday season. They will remain on this format 24\/7 through December 25th 10<\/sup>.<\/p>\n
The Future <\/strong><\/p>\n
Looking towards the future Cumulus is very happy with its new acquisition of Citadel and believes that it will remain a huge player in the radio industry for years to come because of this deal. Dickey, comments that Cumulus is one of really only three major radio corporations in the business and they are looking to expand on numerous platforms in the months to come. Regarding their partnership with Clear Channel, Cumulus is excited about the outcome of more EasyJack airtime and increased efforts towards improving ways of bringing better advertising to consumers and advertisers22<\/sup>. Cumulus\u2019 CEO also does not believe that the radio business will suffer substantial losses in the future because\u00a0 93% of the population is continuing to listen to radio 2, 22<\/sup>.<\/p>\n
Any Future for Radio? <\/a>[14]<\/p>\n
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References<\/strong><\/p>\n
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1 <\/sup>http:\/\/www.cumulus.com\/local-radio-2\/-<\/a> Company overview (local).<\/p>\n
2 <\/sup>http:\/\/www.cumulus.com\/cumulus-media-network\/-<\/a> Company overview.<\/p>\n
3<\/sup> http:\/\/www.abcradio.com\/Article.asp?id=341544-<\/a> List of Cumulus programs.<\/p>\n
4<\/sup>http:\/\/www.allaccess.com\/net-news\/archive\/story\/96553\/it-s-official-cumulus-announces-completion-of-cita- Acquisition of Citadel Broadcasting Corp.<\/p>\n
5<\/sup>http:\/\/www.nytimes.com\/2011\/12\/05\/business\/media\/clear-channel-and-cumulus-form-daily-deal-alliance.html<\/p>\n
6<\/sup>www.bloomberg.com\/quote\/CMLS:US\/- Stock profile.<\/p>\n
7\u00a0 <\/sup>http:\/\/www.cumulus.com\/cmls\/<\/a>– Third Quarter Report given by Cumulus Media Network on November 5th<\/sup>.<\/p>\n
8 <\/sup>http:\/\/www.4-traders.com\/CUMULUS-MEDIA-INC-8822\/news\/Cumulus-Media-Inc-Cumulus-Reports-Third-Quarter-2012-Results-15471263\/<\/a><\/p>\n
9<\/sup> http:\/\/www.bloomberg.com\/news\/2011-09-19\/american-water-jazz-pharmaceuticals-western-gas-u-s-equity-preview.html<\/a> – Rise in stock price in September.<\/p>\n
10<\/sup>http:\/\/news.radio-online.com\/cgi-bin\/rol.exe\/radio_news_search – Cumulus joins Marketron\u2019s Network Connect, Cumulus Names Two New Corporate PDs, Cumulus signs extension with San Francisco 49ers, Triton Digital findings, Christmas format.<\/p>\n
11 <\/sup>http:\/\/adsales.cumulusmedianetworks.com\/content\/press-release-101712<\/a> – Press release given by Cumulus Media Network on \u201cThe Savage Nation\u201d on October 17th<\/sup>.<\/p>\n
12<\/sup>http:\/\/www.nypost.com\/p\/news\/business\/espn_radio_sacked_H7pmVZM058sECDWVcQ6sRM- Cumulus\/CBS Sports Radio deal.<\/p>\n
13 <\/sup>http:\/\/www.cbsradio.com\/single-press\/1876<\/a> -Press release given by CBS Sports Radio on November 16th<\/sup>.<\/p>\n
14 <\/sup>\u00a0http:\/\/radioinsight.com\/blog\/headlines\/79745\/cbs-sports-radio-names-morning-show\/<\/a> – Press release given by CBS Sports Radio on November 26th<\/sup>.<\/p>\n
15<\/sup> http:\/\/news.radio-online.com\/cgi-bin\/rol.exe\/radio_news_search<\/a> – Press release given by Cumulus Media Network on JT Batson on November 26, 2012.<\/p>\n
16<\/sup> http:\/\/www.fmqb.com\/article.asp?id=2526179<\/a> – New hit station in Atlanta<\/p>\n
17<\/sup>http:\/\/www.fmqb.com\/article.asp?id=2524521 \u2013 Flips stations in Atlanta<\/p>\n
18\u00a0 <\/sup>http:\/\/www.fmqb.com\/article.asp?id=2553572<\/a> -Purchase in New York market.<\/p>\n
http:\/\/www.fmqb.com\/article.asp?id=2555248<\/a> – Ann McManus new RVP of Northeast.<\/p>\n
19 <\/sup>http:\/\/www.fmqb.com\/article.asp?id=2571039<\/a> – Steve Borneman moves to Clear Channel.<\/p>\n
20 <\/sup>http:\/\/en.wikipedia.org\/wiki\/Cumulus_Media<\/a><\/p>\n
21<\/sup>http:\/\/www.fmqb.com\/article.asp?id=2586001<\/a> – Minneapolis market<\/p>\n
22<\/sup>http:\/\/video.cnbc.com\/gallery\/?video=3000045781 play=1#eyJ2aWQiOiIzMDAwMDQ1NzgxIiwiZW5jVmlkIjoiT3pUVGFZd3JNekdyRWRucn pPbGdnZz09IiwidRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdG VzdCBWaWRlbyJdLCJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9<\/p>\n
23<\/sup>http:\/\/radioworld.com\/article\/dickey-%E2%80%98radio%E2%80%99s-share-of-political-dropped%E2%80%99\/216214 \u2013 Political ad revenue.<\/p>\n
Image and Video References <\/strong><\/p>\n
\u00a0<\/sup>[1] http:\/\/www.allaccess.com\/net-news\/archive\/story\/111718\/more-cumulus-media-networks-affiliates-this-week<\/a><\/p>\n
[2] http:\/\/www.cumulus.com\/leadership\/lewis-w-dickey-jr-2\/<\/a><\/p>\n
[3] http:\/\/www.cumulus.com\/leadership\/jonathan-g-pinch\/<\/a><\/p>\n
[4] http:\/\/www.cumulus.com\/leadership\/john-w-dickey\/<\/a><\/p>\n
[5] http:\/\/www.cumulus.com\/leadership\/joseph-p-hannan\/<\/a><\/p>\n
[6]http:\/\/www.billboard.biz\/bbbiz\/industry\/digital-and-mobile\/clear-channel-cumulus-announce-streaming-1005616182.story<\/a><\/p>\n
[7] http:\/\/www.bloomberg.com\/quote\/CMLS:US\/chart\/<\/a><\/p>\n
[8] http:\/\/topnews.co.uk\/21458-citadel-broadcasting-corp-files-bankruptcy-protection<\/a><\/p>\n
[9]http:\/\/theconservativebeacon.com\/the-conservative-beacon-on-the-savage-nation<\/a><\/p>\n
[10] https:\/\/www.youtube.com\/watch?v=hN4ctWMq9Ks<\/a><\/p>\n
[11] http:\/\/www.cbspressexpress.com\/cbs-radio\/releases\/view?id=32726<\/a><\/p>\n
[12] http:\/\/thedashow.com\/about\/<\/a><\/p>\n
[13]http:\/\/content.usatoday.com\/communities\/entertainment\/post\/2010\/04\/tiki-barber-takes-the-heat-off-jesse-james-tiger-woods\/1#.UMIlEERCWfs<\/p>\n
[14] http:\/\/www.radioink.com\/article.asp?id=2581128&spid=24698<\/a><\/p>\n
[15]\u00a0http:\/\/video.cnbc.com\/gallery\/?video=3000045781&play=1#eyJ2aWQiOiIzMDAwMDQ1NzgxIiwiZW5jVmlkIjoiT3pUVGFZd3JNekdy RWRucnpPbGdnZz09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdGVzdCBWaWRlbyJdL CJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
by Lauren Rush Executives   Lewis W. Dickey, Jr. \u2013 Chairman, President and CEO of Cumulus Media. He co-founded the company in 1997 and became its CEO in June of 2000.       Jonathan G. Pinch- Executive Vice-President and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[26,151],"tags":[],"_links":{"self":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4246"}],"collection":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/users\/143"}],"replies":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/comments?post=4246"}],"version-history":[{"count":33,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4246\/revisions"}],"predecessor-version":[{"id":7648,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4246\/revisions\/7648"}],"wp:attachment":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/media?parent=4246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/categories?post=4246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/tags?post=4246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}