Endeavour Silver Produces 1,305,399 Oz Silver And 10,541 Oz Gold For 2.1 Million Oz Silver Equivalents In Q3, 2021; 2021 Consolidated Production Guidance Raised To 7.7 – 8.0 Million Oz Silver Equivalents

 

VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reports production of 1,305,399 silver ounces (oz) and 10,541 gold oz in Q3, 2021, for silver equivalent (“AgEq”) production of 2.1 million oz at an 80:1 silver:gold ratio, totaling 6.1 million AgEq oz for the 9 months ended September 30, 2021.  

Management has increased 2021 consolidated production guidance to 7.7 – 8.0 million oz silver equivalents to reflect continued strong performance at Guanacevi due to higher than expected grades and tonnage milled. Full details are provided in the section, “Revision to Full Year 2021 Guidance” in this news release.  

2021 Third Quarter Highlights

• Consolidated Production Ahead of Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans. 
   
• Guanacevi Production Ahead of Plan:  Higher throughput and higher silver and gold grades resulted in record production during the quarter, ahead of the annual plan. Based on continued strong performance, the operations team has significantly improved the production outlook for the full year, resulting in an estimated 20% increase in silver equivalent metal. 
   
• Bolanitos Production on Plan: Processed tonnes were ahead of plan, offset by lower ore grades.
   
• El Compas Suspended: Final stockpiles were processed subsequent to the suspension of operations in early August. Most of the company personnel have been transferred to other sites or laid off, while the mine and plant have been placed on temporary care and maintenance. Management is evaluating several opportunities.
   
• Metal Sales and Inventories: Sold 699,540 oz silver and 9,925 oz gold, held 1,030,304 oz silver and 1,211 oz gold of bullion inventory and 37,100 oz silver and 2,028 oz gold in concentrate inventory.  Management continued to withhold metal from sale during the price correction over the third quarter and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound.
   
• Robust Economics in the Terronera Feasibility Study: Favorable outcomes including improved confidence in the project cost, design and operability provide a strong position for securing project financing. The Terronera Project Technical Report, authored in accordance with National Instrument 43-101, will be filed on SEDAR and EDGAR by October 24, 2021.
   
• Acquired Bruner Gold Project in Nye County, Nevada:  Completed the acquisition of an advanced stage gold exploration project in a favourable jurisdiction for US$10 million in cash.

Dan Dickson, CEO, commented, “We are well positioned to exceed our original full year consolidated production guidance, which has led to the decision to formally revise our annual targets. Our 2021 business plan shows strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine. This reaffirms an important year of investment into our people and culture programs to ensure the long-term sustainability of our operations.”

“Entering the fourth quarter, we are also continuing with our exploration programs and anticipate releasing additional drill results at Terronera, building on the encouraging regional results we announced previously this year. We are advancing the Terronera development and continue to negotiate critical contracts, procure various long lead equipment items and general mine equipment, are increasing the work force and preparing for early earth works.”

Mine Operations

Consolidated silver production increased by 39% compared to Q3 2020, primarily driven by a 46% increase in silver production at the Guanacevi mine offset by the suspension of operations at the El Compas mine.  Gold production increased by 3% with the Guanacevi mine seeing a 47% increase in silver equivalent ounces produced which was offset the suspension of operations at the El Compas mine.  Silver and gold production at the Bolanitos mine increased moderately with a 11% increase in silver production and an 8% increase in gold production. 

Guanacevi throughput exceeded plan and mining the new higher grade El Curso orebody has led to significantly improved grades and mine plan flexibility. Additionally, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributing to the higher ore grades. 

Bolanitos and El Compas processed tonnes were higher compared to plan and offset by lower grades, due to normal variations in the Bolanitos ore body and a lower grade of the final stockpile at El Compas. 

As previously disclosed by the Company (see news release dated January 7, 2021), the existing reserve at El Compas was sufficient to continue mining until mid-2021. Management suspended operations in early August and is currently assessing opportunities.

Revision to Full Year 2021 Production Guidance

Updates to the full year 2021 consolidated production guidance are driven by strong performance at Guanacevi, while production at Bolanitos will remain the same as originally estimated for silver with a small increase in gold. Other operational components of the Company’s full year guidance remain unchanged from the targets released in the news release dated January 28, 2021, with the exception of the newly increased development budget at Terronera for an additional $13 million until year end.

The COVID-19 pandemic remains relevant in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible.  Any unforeseen outbreaks could impact production.             

Production Highlights for Three Months and Nine Months Ended September 30, 2021

Production Tables for Third Quarter, 2021 by Mine ⁽¹⁾

Production Tables for Nine Months Ended September 30, 2021 by Mine ⁽¹⁾

Release of Third Quarter, 2021 Financial Results and Conference Call

The 2021 Third Quarter Financial Results will be released before market on Tuesday, November 9, 2021 and a telephone conference call will be held the same day at 10:00am PT (1:00pm ET). To participate in the conference call, please dial the numbers below. No pass code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass code is 7870#. The audio replay and a written transcript will be available on the Company’s website at www.edrsilver.com under the Investor Relations, Events section.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp. 

Contact Information:
Galina Meleger, Vice President, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward?looking statements and information herein include but are not limited to statements regarding the impact of suspension of mining operations, Endeavour’s anticipated performance in 2021, including production forecasts, cost estimates and metal price estimates, and the timing and results of mine expansion and development and receipt of various permits. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, uncertainty of the ultimate impact of the COVID 19 pandemic on operations, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; metal prices; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations ,the impact of the COVID 19 pandemic on mining operations in Mexico generally, and the Company’s operations specifically, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Source: Endeavour Silver Corporation

 

Endeavour Silver Produces 1,305,399 Oz Silver And 10,541 Oz Gold For 2.1 Million Oz Silver Equivalents In Q3, 2021; 2021 Consolidated Production Guidance Raised To 7.7 – 8.0 Million Oz Silver Equivalents

 

VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reports production of 1,305,399 silver ounces (oz) and 10,541 gold oz in Q3, 2021, for silver equivalent (“AgEq”) production of 2.1 million oz at an 80:1 silver:gold ratio, totaling 6.1 million AgEq oz for the 9 months ended September 30, 2021.  

Management has increased 2021 consolidated production guidance to 7.7 – 8.0 million oz silver equivalents to reflect continued strong performance at Guanacevi due to higher than expected grades and tonnage milled. Full details are provided in the section, “Revision to Full Year 2021 Guidance” in this news release.  

2021 Third Quarter Highlights

• Consolidated Production Ahead of Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans. 
   
• Guanacevi Production Ahead of Plan:  Higher throughput and higher silver and gold grades resulted in record production during the quarter, ahead of the annual plan. Based on continued strong performance, the operations team has significantly improved the production outlook for the full year, resulting in an estimated 20% increase in silver equivalent metal. 
   
• Bolanitos Production on Plan: Processed tonnes were ahead of plan, offset by lower ore grades.
   
• El Compas Suspended: Final stockpiles were processed subsequent to the suspension of operations in early August. Most of the company personnel have been transferred to other sites or laid off, while the mine and plant have been placed on temporary care and maintenance. Management is evaluating several opportunities.
   
• Metal Sales and Inventories: Sold 699,540 oz silver and 9,925 oz gold, held 1,030,304 oz silver and 1,211 oz gold of bullion inventory and 37,100 oz silver and 2,028 oz gold in concentrate inventory.  Management continued to withhold metal from sale during the price correction over the third quarter and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound.
   
• Robust Economics in the Terronera Feasibility Study: Favorable outcomes including improved confidence in the project cost, design and operability provide a strong position for securing project financing. The Terronera Project Technical Report, authored in accordance with National Instrument 43-101, will be filed on SEDAR and EDGAR by October 24, 2021.
   
• Acquired Bruner Gold Project in Nye County, Nevada:  Completed the acquisition of an advanced stage gold exploration project in a favourable jurisdiction for US$10 million in cash.

Dan Dickson, CEO, commented, “We are well positioned to exceed our original full year consolidated production guidance, which has led to the decision to formally revise our annual targets. Our 2021 business plan shows strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine. This reaffirms an important year of investment into our people and culture programs to ensure the long-term sustainability of our operations.”

“Entering the fourth quarter, we are also continuing with our exploration programs and anticipate releasing additional drill results at Terronera, building on the encouraging regional results we announced previously this year. We are advancing the Terronera development and continue to negotiate critical contracts, procure various long lead equipment items and general mine equipment, are increasing the work force and preparing for early earth works.”

Mine Operations

Consolidated silver production increased by 39% compared to Q3 2020, primarily driven by a 46% increase in silver production at the Guanacevi mine offset by the suspension of operations at the El Compas mine.  Gold production increased by 3% with the Guanacevi mine seeing a 47% increase in silver equivalent ounces produced which was offset the suspension of operations at the El Compas mine.  Silver and gold production at the Bolanitos mine increased moderately with a 11% increase in silver production and an 8% increase in gold production. 

Guanacevi throughput exceeded plan and mining the new higher grade El Curso orebody has led to significantly improved grades and mine plan flexibility. Additionally, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributing to the higher ore grades. 

Bolanitos and El Compas processed tonnes were higher compared to plan and offset by lower grades, due to normal variations in the Bolanitos ore body and a lower grade of the final stockpile at El Compas. 

As previously disclosed by the Company (see news release dated January 7, 2021), the existing reserve at El Compas was sufficient to continue mining until mid-2021. Management suspended operations in early August and is currently assessing opportunities.

Revision to Full Year 2021 Production Guidance

Updates to the full year 2021 consolidated production guidance are driven by strong performance at Guanacevi, while production at Bolanitos will remain the same as originally estimated for silver with a small increase in gold. Other operational components of the Company’s full year guidance remain unchanged from the targets released in the news release dated January 28, 2021, with the exception of the newly increased development budget at Terronera for an additional $13 million until year end.

The COVID-19 pandemic remains relevant in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible.  Any unforeseen outbreaks could impact production.             

Production Highlights for Three Months and Nine Months Ended September 30, 2021

Production Tables for Third Quarter, 2021 by Mine ⁽¹⁾

Production Tables for Nine Months Ended September 30, 2021 by Mine ⁽¹⁾

Release of Third Quarter, 2021 Financial Results and Conference Call

The 2021 Third Quarter Financial Results will be released before market on Tuesday, November 9, 2021 and a telephone conference call will be held the same day at 10:00am PT (1:00pm ET). To participate in the conference call, please dial the numbers below. No pass code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass code is 7870#. The audio replay and a written transcript will be available on the Company’s website at www.edrsilver.com under the Investor Relations, Events section.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp. 

Contact Information:
Galina Meleger, Vice President, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward?looking statements and information herein include but are not limited to statements regarding the impact of suspension of mining operations, Endeavour’s anticipated performance in 2021, including production forecasts, cost estimates and metal price estimates, and the timing and results of mine expansion and development and receipt of various permits. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, uncertainty of the ultimate impact of the COVID 19 pandemic on operations, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; metal prices; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations ,the impact of the COVID 19 pandemic on mining operations in Mexico generally, and the Company’s operations specifically, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Source: Endeavour Silver Corporation

Following an introduction and corporate presentation, Noble Capital Markets Senior Research Analyst Michael Kupinski sits down with Motorsport Games Chairman and CEO Dmitry Kozko, President Stephen Hood, and CFO Jonathan New for this exclusive interview. Research, News, and Advanced Market Data on MSGM View all C-Suite Interviews About Motorsport Games Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League among others. For more information about Motorsport Games visit: www.motorsportgames.com.

Russ Hauth Retires from Salem and Nic Anderson Takes on Director, Government Relations Responsibilities

 

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that following a 34-year relationship with Salem, Russ Hauth will retire October 22, 2021. In his time with Salem, Russ served as SVP, heading up National News and Public Affairs. He also served for many years as Executive Director of the National Religious Broadcasters Music License Committee and was Salem’s chief negotiator on music licensing related issues. In more recent years Russ has directed Salem’s Office of Government Relations.

Minneapolis General Manager Nic Anderson will take on Government Relations duties in addition to his continuing role as GM. Nic is active with Minneapolis Broadcasters Association (“MBA”), an active participant in the state leadership conference and in July of this year was hand-selected by the MBA to travel to Washington DC as part of a fly-in where he represented the MBA, Salem, and the National Association of Broadcasters. Nic has a deep passion and talent in this area, and he understands the unique aspects of Salem which impact our strategies and how we communicate inside and outside of the beltway. Plus, “It’s always good to reward talented people inside the company when new opportunities arise,” said David Santrella, Salem’s President of Broadcast Media.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group

Russ Hauth Retires from Salem and Nic Anderson Takes on Director, Government Relations Responsibilities

 

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that following a 34-year relationship with Salem, Russ Hauth will retire October 22, 2021. In his time with Salem, Russ served as SVP, heading up National News and Public Affairs. He also served for many years as Executive Director of the National Religious Broadcasters Music License Committee and was Salem’s chief negotiator on music licensing related issues. In more recent years Russ has directed Salem’s Office of Government Relations.

Minneapolis General Manager Nic Anderson will take on Government Relations duties in addition to his continuing role as GM. Nic is active with Minneapolis Broadcasters Association (“MBA”), an active participant in the state leadership conference and in July of this year was hand-selected by the MBA to travel to Washington DC as part of a fly-in where he represented the MBA, Salem, and the National Association of Broadcasters. Nic has a deep passion and talent in this area, and he understands the unique aspects of Salem which impact our strategies and how we communicate inside and outside of the beltway. Plus, “It’s always good to reward talented people inside the company when new opportunities arise,” said David Santrella, Salem’s President of Broadcast Media.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group

Thursday, September 23, 2021

Salem Media (SALM)
Raising Our Financial Assessment Ranking

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Extends large portion of debt maturities. Last week, the company announced the refinancing of $112.8 million of its senior secured notes due 2024 with 7.125% senior secured notes due 2028. The refi represented roughly 50% of the company’s total $225 million in debt. The move is viewed favorably.


Raising our financial assessment.  While the interest rate increases from 6.75% to 7.125%, we believe that the fixed rate is favorable given the prospect of a rising interest rate environment and given the extended maturity on the bonds. We are raising our financial assessment from 2.0 to 2.5 checks to reflect the favorable runway toward debt reduction …

This Company Sponsored 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. 

Townsquare Media CEO Bill Wilson makes a formal corporate presentation. Afterwards, he is joined by CFO Stuart Rosenstein and Noble Capital Markets Senior Research Analyst Michael Kupinski for a Q & A session. Research, News, and Advanced Market Data on TSQ Information on upcoming live virtual roadshows Townsquare is a community-focused digital media, digital marketing solutions and radio company focused outside the Top 50 markets in the U.S. Our assets include Townsquare Interactive, a digital marketing services subscription business providing web sites, search engine optimization, social platforms and online reputation management for approximately 24,950 SMBs; Townsquare IGNITE, a proprietary digital programmatic advertising technology with an in-house demand and data management platform; and Townsquare Media, our portfolio of 322 local terrestrial radio stations in 67 cities with corresponding local news and entertainment websites and apps including legendary brands such as WYRK.com, WJON.com, and NJ101.5.com along with a network of national music brands including XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.

Facebook’s “Supreme Court” to Rule on Favoritism of Elite Users

 

Should Facebook have different rules for high-profile users than it does for the masses? Facebook’s Oversight Board said this week that it will review the company’s use of more relaxed content rules for high-profile users such as athletes and politicians. Under review is the companies “Cross Check” program for the better-known users.

 

What
is the Oversight Board

Mark Zuckerberg, the founder and CEO of Facebook appointed an Oversight Board in 2019. It’s a worldwide 20-member body, which includes human rights activists, lawyers, journalists, professors, and others to serve as an entity to hear appeals after Facebook makes decisions on content moderation. It is sometimes referred to as “Facebook’s Supreme Court” as it can overturn decisions made by company executives – it has the final word.

Since its creation, the Oversight Board has received more than 500,000 requests from Facebook users to examine its content moderation decisions. It has issued 15 decisions in what it calls “important cases,” with 11 of those decisions overturning Facebook. 

 

What’s at Stake in this Review

The review comes after a series of investigative reports by The Wall Street Journal that included a description of how the social media platform Facebook has applied one set of content moderation rules to regular users, but allowed high-profile users significantly more latitude with material that potentially violates Facebook’s content guidelines. It is to include how politicians, celebrities, journalists, etc. may be given different treatment or allowed another standard of conduct.

 

Source: oversightboard.com

 

The Wall Street Journal report showed the “cross-check” program effectively shields millions of accounts from the enforcement actions that more common Facebook users are held to. The program has allowed “whitelisted” accounts to post false claims that would not otherwise be tolerated. It also has allowed harassment, and other issues, according to the Journal.

Last year there were almost six million accounts in the system getting special treatment by Facebook employees. For the rest of Facebook’s 2.8 billion monthly visitors, violating the company’s guidelines against issues like bullying or hate speech is handled by automated systems. The Oversight Board said this week that Facebook must be more transparent in how rules are applied.

What Happens Next?

The Board said it expects to be briefed by Facebook within the next few days. The findings and any action will be published in October as part of its quarterly transparency report. The Board also said it has been examining the cross-check system “for some time.” In the past, it warned that a lack of transparency “could contribute to perceptions that Facebook is unduly influenced by political and commercial considerations.”

 

Take-Away

The Oversight Board is a Facebook-funded body that operates outside of the company’s formal corporate chain of command, it arbitrates decisions about content moderation. It’s in place as a separate entity outside of Facebook that has the final say in decision-making on moderation. It is currently looking at a practice Facebook uses, which uses digital electronic moderating for some and a far less stringent moderation system for others.

As with most businesses, reputation is important. The Board created less than two years by Mark Zuckerberg is to help protect the reputation of the company. The outcome of this review will be known in October.

 

Suggested Reading:

Advertising Rules Becoming a Guessing Game on Some Social Media

Your Data is Being Used to Generate Big Returns

Seeking Alpha Paywall Causes Frustration

Digital Media and Entertainment Industry Outlook

 

Sources:

https://oversightboard.com/news/3056753157930994-to-treat-users-fairly-facebook-must-commit-to-transparency/

https://www.cbsnews.com/news/facebook-cross-xcheck-oversight-board/

https://oversightboard.com/

https://www.wsj.com/articles/facebook-files-xcheck-zuckerberg-elite-rules-11631541353

 

Stay up to date. Follow us:

Facebook’s “Supreme Court” to Rule on Favoritism of Elite Users

 

Should Facebook have different rules for high-profile users than it does for the masses? Facebook’s Oversight Board said this week that it will review the company’s use of more relaxed content rules for high-profile users such as athletes and politicians. Under review is the companies “Cross Check” program for the better-known users.

 

What
is the Oversight Board

Mark Zuckerberg, the founder and CEO of Facebook appointed an Oversight Board in 2019. It’s a worldwide 20-member body, which includes human rights activists, lawyers, journalists, professors, and others to serve as an entity to hear appeals after Facebook makes decisions on content moderation. It is sometimes referred to as “Facebook’s Supreme Court” as it can overturn decisions made by company executives – it has the final word.

Since its creation, the Oversight Board has received more than 500,000 requests from Facebook users to examine its content moderation decisions. It has issued 15 decisions in what it calls “important cases,” with 11 of those decisions overturning Facebook. 

 

What’s at Stake in this Review

The review comes after a series of investigative reports by The Wall Street Journal that included a description of how the social media platform Facebook has applied one set of content moderation rules to regular users, but allowed high-profile users significantly more latitude with material that potentially violates Facebook’s content guidelines. It is to include how politicians, celebrities, journalists, etc. may be given different treatment or allowed another standard of conduct.

 

Source: oversightboard.com

 

The Wall Street Journal report showed the “cross-check” program effectively shields millions of accounts from the enforcement actions that more common Facebook users are held to. The program has allowed “whitelisted” accounts to post false claims that would not otherwise be tolerated. It also has allowed harassment, and other issues, according to the Journal.

Last year there were almost six million accounts in the system getting special treatment by Facebook employees. For the rest of Facebook’s 2.8 billion monthly visitors, violating the company’s guidelines against issues like bullying or hate speech is handled by automated systems. The Oversight Board said this week that Facebook must be more transparent in how rules are applied.

What Happens Next?

The Board said it expects to be briefed by Facebook within the next few days. The findings and any action will be published in October as part of its quarterly transparency report. The Board also said it has been examining the cross-check system “for some time.” In the past, it warned that a lack of transparency “could contribute to perceptions that Facebook is unduly influenced by political and commercial considerations.”

 

Take-Away

The Oversight Board is a Facebook-funded body that operates outside of the company’s formal corporate chain of command, it arbitrates decisions about content moderation. It’s in place as a separate entity outside of Facebook that has the final say in decision-making on moderation. It is currently looking at a practice Facebook uses, which uses digital electronic moderating for some and a far less stringent moderation system for others.

As with most businesses, reputation is important. The Board created less than two years by Mark Zuckerberg is to help protect the reputation of the company. The outcome of this review will be known in October.

 

Suggested Reading:

Advertising Rules Becoming a Guessing Game on Some Social Media

Your Data is Being Used to Generate Big Returns

Seeking Alpha Paywall Causes Frustration

Digital Media and Entertainment Industry Outlook

 

Sources:

https://oversightboard.com/news/3056753157930994-to-treat-users-fairly-facebook-must-commit-to-transparency/

https://www.cbsnews.com/news/facebook-cross-xcheck-oversight-board/

https://oversightboard.com/

https://www.wsj.com/articles/facebook-files-xcheck-zuckerberg-elite-rules-11631541353

 

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Engine Media’s WinView Games Announces Partnership with Atlanta Radio Station 680 The Fan

 

Partnership Expands on Current Partnership Between Engine Media’s Frankly Media and 680 The Fan

NEW YORK, September 21, 2021 — Engine Media Holdings, Inc. (“Engine” or the “Company”; NASDAQ: GAME; TSX-V: GAME), an esports/sports gaming and next-generation media solutions company, today announced that its wholly owned subsidiary, WinView Games (“WinView”) has entered into a partnership with 680 The Fan, Atlanta’s preeminent sports radio station, to elevate listener engagement with live games of skill that test the audience’s sports IQ for cash or fun. The partnership consists of exclusive WinView contests and promotions that are synchronized to 680 The Fan’s broadcast and website. These contests will allow people to play along while they listen or watch a game, which will span Braves, Hawks, Falcons, Bulldogs, and Yellow Jackets games. These games will be produced in both live and pregame modes, which will allow users to constantly engage with the events.

This partnership illustrates Engine’s unique position in the skills-based gaming market and its ability to combine media solutions with social gaming experiences to create truly one-of-a-kind experiences. 680 The Fan has worked with Engine’s wholly-owned subsidiary, Frankly Media (“Frankly”), to develop and manage its digital sports destination, including leveraging its live streaming audio and video platform.  WinView’s newly announced partnership with 680 The Fan is a perfect compliment.

This is the first partnership of its kind and has the potential to be replicated with other media platforms and to evolve into team partnerships. The decision for WinView to partner with 680 The Fan is driven by their impressive content and large sports following that will promote and market WinView Games. The decision for 680 The Fan to partner with WinView is driven by their commitment to continue improving fan engagement through the play-along game prediction platform offered by WinView. This commitment will be furthered by three of their top on-air personalities (Matt Chernoff, Carlos Medina, and Brian Hoyt) driving the program through the airwaves.

Scott McFarlane, Operations Director of 680 The Fan commented on the announcement stating, “We are excited about delivering these promotions to our listeners. This is a thrilling way to improve fan engagement and interaction with the station and the teams. Our partnership with WinView is another opportunity to enhance the digital sports destination we have been building with Frankly and Engine.”

“Partnering with outlets such as 680 The Fan is another example of Engine Media’s long-term growth plan. We are thrilled to continue partnering with this world-class team,” added Engine Media Chief Executive Officer Lou Schwartz. “Partnerships like this help broadcasters drive audience engagement and realize new streams of revenue. Additionally, social gaming is a way to engage fans by allowing them to demonstrate their sports IQ competing against other fans and winning cash.”

About Engine Media Holdings, Inc.

Engine Media Holdings Inc. is traded publicly under the ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; Eden Games, a premium motorsport video game developer and publisher across console and mobile gaming; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; UMG, an end-to-end competitive esports platform powering and broadcasting major esports events, as well as daily community tournaments, matches, and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer and subscription fees, streaming technology and data SaaS-based offerings, programmatic advertising, and sponsorships.

About Frankly Media

Frankly Media provides a complete suite of solutions that give publishers a unified workflow for the creation, management, publishing and monetization of digital content to any device, while maximizing audience value and revenue. Frankly delivers publishers and their audiences the solutions to meet the dynamic challenges of a multi-screen content distribution world.

Frankly’s comprehensive advertising services maximize ROI for our customers, including direct sales and programmatic ad support. With the release of our server-side ad insertion (SSAI) platform, Frankly is well-positioned to help video producers take full advantage of the growing market in addressable advertising.

Frankly’s technology products include a groundbreaking online video platform for Live, VOD and Live-to-VOD workflows, a full-featured CMS with rich storytelling capabilities, as well as native apps for iOS, Android, Apple TV, Fire TV and Roku.

About WinView Games

WinView Games is a Silicon Valley based company that is focused on paid entry, mobile two-screen synchronized televised sports games of skill in the U.S. The Company plans to leverage its extensive experience in pioneering real-time interactive television games played on the mobile second screen, its foundational patents and unique business model. The WinView app is an end-to-end two-screen TV synchronization platform for both television programming and commercials. The paid entry, skill-based WinView Games app uniquely enhances TV viewing enjoyment and rewards sports fans with prizes as they answer in-game questions while competing with friends in real-time during live televised sports. These games of skill are legal in 36 states. For more information, please visit www.winviewgames.com.

About Dickey Broadcasting Company

Dickey Broadcasting Company has been an Atlanta Sports institution for over 28 years. In addition to launching the sports-talk radio format in Atlanta (680 The Fan), DBC owns and operates multiple radio networks (The Braves Radio Network and Southern Sports Today), a conservative talk station (Xtra 106.3), robust digital and mobile offerings, and a sports-based events series (Tailgate Central).  DBC’s headquarters and studios are located inside the Battery Atlanta.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, including the marketing partnership described herein and the potential outcomes and benefits to be derived therefrom, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information:

Investors
Ryan Lawrence, ICR
Ryan.Lawrence@icrinc.com
332-242-4321

Media
James Goldfarb, Sloane & Company
jgoldfarb@sloanepr.com
212-446-1869

Source: Engine Media Holdings, Inc.

 

Engine Media’s WinView Games Announces Partnership with Atlanta Radio Station 680 The Fan

 

Partnership Expands on Current Partnership Between Engine Media’s Frankly Media and 680 The Fan

NEW YORK, September 21, 2021 — Engine Media Holdings, Inc. (“Engine” or the “Company”; NASDAQ: GAME; TSX-V: GAME), an esports/sports gaming and next-generation media solutions company, today announced that its wholly owned subsidiary, WinView Games (“WinView”) has entered into a partnership with 680 The Fan, Atlanta’s preeminent sports radio station, to elevate listener engagement with live games of skill that test the audience’s sports IQ for cash or fun. The partnership consists of exclusive WinView contests and promotions that are synchronized to 680 The Fan’s broadcast and website. These contests will allow people to play along while they listen or watch a game, which will span Braves, Hawks, Falcons, Bulldogs, and Yellow Jackets games. These games will be produced in both live and pregame modes, which will allow users to constantly engage with the events.

This partnership illustrates Engine’s unique position in the skills-based gaming market and its ability to combine media solutions with social gaming experiences to create truly one-of-a-kind experiences. 680 The Fan has worked with Engine’s wholly-owned subsidiary, Frankly Media (“Frankly”), to develop and manage its digital sports destination, including leveraging its live streaming audio and video platform.  WinView’s newly announced partnership with 680 The Fan is a perfect compliment.

This is the first partnership of its kind and has the potential to be replicated with other media platforms and to evolve into team partnerships. The decision for WinView to partner with 680 The Fan is driven by their impressive content and large sports following that will promote and market WinView Games. The decision for 680 The Fan to partner with WinView is driven by their commitment to continue improving fan engagement through the play-along game prediction platform offered by WinView. This commitment will be furthered by three of their top on-air personalities (Matt Chernoff, Carlos Medina, and Brian Hoyt) driving the program through the airwaves.

Scott McFarlane, Operations Director of 680 The Fan commented on the announcement stating, “We are excited about delivering these promotions to our listeners. This is a thrilling way to improve fan engagement and interaction with the station and the teams. Our partnership with WinView is another opportunity to enhance the digital sports destination we have been building with Frankly and Engine.”

“Partnering with outlets such as 680 The Fan is another example of Engine Media’s long-term growth plan. We are thrilled to continue partnering with this world-class team,” added Engine Media Chief Executive Officer Lou Schwartz. “Partnerships like this help broadcasters drive audience engagement and realize new streams of revenue. Additionally, social gaming is a way to engage fans by allowing them to demonstrate their sports IQ competing against other fans and winning cash.”

About Engine Media Holdings, Inc.

Engine Media Holdings Inc. is traded publicly under the ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; Eden Games, a premium motorsport video game developer and publisher across console and mobile gaming; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; UMG, an end-to-end competitive esports platform powering and broadcasting major esports events, as well as daily community tournaments, matches, and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer and subscription fees, streaming technology and data SaaS-based offerings, programmatic advertising, and sponsorships.

About Frankly Media

Frankly Media provides a complete suite of solutions that give publishers a unified workflow for the creation, management, publishing and monetization of digital content to any device, while maximizing audience value and revenue. Frankly delivers publishers and their audiences the solutions to meet the dynamic challenges of a multi-screen content distribution world.

Frankly’s comprehensive advertising services maximize ROI for our customers, including direct sales and programmatic ad support. With the release of our server-side ad insertion (SSAI) platform, Frankly is well-positioned to help video producers take full advantage of the growing market in addressable advertising.

Frankly’s technology products include a groundbreaking online video platform for Live, VOD and Live-to-VOD workflows, a full-featured CMS with rich storytelling capabilities, as well as native apps for iOS, Android, Apple TV, Fire TV and Roku.

About WinView Games

WinView Games is a Silicon Valley based company that is focused on paid entry, mobile two-screen synchronized televised sports games of skill in the U.S. The Company plans to leverage its extensive experience in pioneering real-time interactive television games played on the mobile second screen, its foundational patents and unique business model. The WinView app is an end-to-end two-screen TV synchronization platform for both television programming and commercials. The paid entry, skill-based WinView Games app uniquely enhances TV viewing enjoyment and rewards sports fans with prizes as they answer in-game questions while competing with friends in real-time during live televised sports. These games of skill are legal in 36 states. For more information, please visit www.winviewgames.com.

About Dickey Broadcasting Company

Dickey Broadcasting Company has been an Atlanta Sports institution for over 28 years. In addition to launching the sports-talk radio format in Atlanta (680 The Fan), DBC owns and operates multiple radio networks (The Braves Radio Network and Southern Sports Today), a conservative talk station (Xtra 106.3), robust digital and mobile offerings, and a sports-based events series (Tailgate Central).  DBC’s headquarters and studios are located inside the Battery Atlanta.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, including the marketing partnership described herein and the potential outcomes and benefits to be derived therefrom, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information:

Investors
Ryan Lawrence, ICR
Ryan.Lawrence@icrinc.com
332-242-4321

Media
James Goldfarb, Sloane & Company
jgoldfarb@sloanepr.com
212-446-1869

Source: Engine Media Holdings, Inc.

Cumulus Media Releases New Investor Presentation

 

ATLANTA, GA — September 20, 2021: Cumulus Media Inc. (NASDAQ: CMLS) announced today that it has released a new investor presentation, which can be found on its website at www.cumulusmedia.com/investors. A virtual video presentation is available via ChannelChek as part of Noble Capital Markets’ C-Suite Interview Series via the following link: Investor Presentation Video. Access to the virtual video presentation is free of charge and open to the public.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “This presentation gives both existing and new investors a deeper understanding of our multi-year strategic repositioning from a one-dimensional radio company to a multi-dimensional, audio-first media company with multiple drivers of shareholder value, including:

• A continuation of recovery in the radio market,
• Multiple fast-growing digital business lines,
• Excellent free cash flow characteristics,
• A strong balance sheet and liquidity profile, and
• Substantial optionality regarding capital allocation.”

Berner continued, “With our proven team and track record of success, we believe that Cumulus Media is exceedingly well-positioned to deliver significant additional upside to shareholders.”

Upcoming Conference:

Deutsche Bank 29^th Annual Leveraged Finance Conference: Management will present on October 6, 2021, at 8:00 AM Eastern Time, and will host one-on-one meetings on October 5-6, 2021.

About CUMULUS MEDIA

CUMULUS MEDIA (NASDAQ: CMLS) is a leading media, advertising, and marketing services 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 413 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across nearly 7,300 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the CUMULUS Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Disclosure Regarding Forward-Looking Statements

Certain statements in this release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Such statements are statements other than historical fact and relate to our intent, belief or current expectations primarily with respect to our future operating, financial, and strategic performance. Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ from those contained in or implied by the forward-looking statements as a result of various factors including, but not limited to, risks and uncertainties related to the implementation of our strategic operating plans, the evolving and uncertain nature of the COVID-19 pandemic and its impact on the Company, the media industry, and the economy in general and other risk factors described from time to time in our filings with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond our control, and the unexpected occurrence or failure to occur of any such events or matters could significantly alter our actual results of operations or financial condition. CUMULUS MEDIA assumes no responsibility to update any forward-looking statements, which are based upon expectations as of the date hereof, as a result of new information, future events or otherwise.

For further information, please contact:

Investor Relations Department
IR@cumulus.com
404-260-6600

Source: Cumulus Media

Tuesday, September 21, 2021

Cumulus Media (CMLS)
Time For A Refresh

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.

Refer to the full report for the price target, fundamental analysis, and rating.

A new, multi-dimensional approach. This report highlights a recent interview with CEO Mary Berner, who unveiled a new company presentation and its strategic shift toward a multi-dimensional Audio-first media company, rather than its previous Radio-first model. Click here for the full interview. We believe that the company’s recent agreement for its 413 stations and podcasts to be on the Audacy digital platform is an example of its multi-platform, multi-dimensional strategy.


Multiple revenue streams with large market opportunities.  A key component of the company’s presentation was to highlight the multiple revenue streams, each with a large market opportunity. While Radio offers a post pandemic advertising recovery, the company’s Digital businesses are growing rapidly. In Q2, Digital increased 50% in revenues and accounted for 14% of total company revenues. Management …

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.