Cumulus Media Announces Agreement to Sell WABC to Red Apple Media for $12.5 Million
Cumulus Media Inc. - Class A (CMLS)
Last cumulus media inc. - class a earnings: 2/21 08:01 am
Check Earnings Report
US:NASDAQ Investor Relations:
cumulus.com/investors
Company Research
Source: GlobeNewswire
ATLANTA, June 27, 2019 (GLOBE NEWSWIRE) -- Cumulus Media Inc. [NASDAQ: CMLS] (the “Company,” “Cumulus,” “we,” “us,” or “our”) today announced that it has entered into an agreement to sell WABC (AM) in New York City to Red Apple Media, Inc., a wholly-owned subsidiary of Red Apple Group, for $12.5 million in cash. Mary G. Berner, President and Chief Executive Officer of Cumulus, said, “Today’s agreement with Red Apple is yet another step in the execution of our portfolio optimization priority to drive Cumulus’s long-term success. Consistent with our financial goals, we intend to use the sale’s net cash proceeds to pay down debt and invest in the Company to better serve our 250 million listeners and the advertisers who want to reach them. We are also pleased that WABC’s excellent team will work with Red Apple following the transaction’s close to continue building this iconic station’s legacy.” Under the terms of the agreement, Red Apple will take responsibility for programming WABC i
Show less
Read more
Impact Snapshot
Event Time:
CMLS
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CMLS alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CMLS alerts
High impacting Cumulus Media Inc. - Class A news events
Weekly update
A roundup of the hottest topics
CMLS
News
- Cumulus Media Announces Expiration and Final Results of Exchange Offer and Consent Solicitation [Yahoo! Finance]Yahoo! Finance
- Cumulus Media Announces Expiration and Final Results of Exchange Offer and Consent SolicitationGlobeNewswire
- Should Shareholders Reconsider Cumulus Media Inc.'s (NASDAQ:CMLS) CEO Compensation Package? [Yahoo! Finance]Yahoo! Finance
- Cumulus Media Announces Amendment and Extension of Withdrawal Deadline and Expiration Time for Exchange Offer and Consent Solicitation [Yahoo! Finance]Yahoo! Finance
- Cumulus Announces Selected Preliminary Operating Results for First Quarter 2024 [Yahoo! Finance]Yahoo! Finance
CMLS
Earnings
- 2/27/24 - Miss
CMLS
Sec Filings
- 5/2/24 - Form 8-K
- 4/19/24 - Form 8-K
- 4/19/24 - Form 8-K
- CMLS's page on the SEC website