Thursday, June 13, 2019
Cumulus Media (CMLS)
Fixing Its Debt Should Help the Stock
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, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Favorable debt refi. The company announced that it upsized its Notes offering and received a more favorable interest rate than originally expected. The company increased the Notes offering from $300 million to $500 million.
- Attractive fixed rate, long maturity. The interest rate on the Notes is fixed at 6.75%, a decrease from the current floating rate of roughly…
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