Cumulus Media, Inc is an American broadcasting company and is the third largest owner and operator of AM and FM radio stations in the United States behind Audacy and iHeartMedia.
| FactSnippet No. 1,572,834 |
17 Facts About Cumulus Media
1.
2.
Cumulus Media was established in August 1998 by radio consultant Lewis Dickey Jr.
| FactSnippet No. 1,572,835 |
3.
Dickey brought in highly regarded radio operator William Bungeroth to serve as President of Cumulus Media Broadcasting from new offices in Chicago's Hancock Center.
| FactSnippet No. 1,572,836 |
4.
At the time of Cumulus Media' founding, newspaper display and classified advertising claimed the largest share of local advertising dollars.
| FactSnippet No. 1,572,837 |
5.
Some radio executives familiar with small markets thought that Cumulus Media was overpaying to buy top stations in markets that did not have a great upside potential.
| FactSnippet No. 1,572,838 |
6.
Cumulus Media was a part-time participant in the euphoria of the dot-com bubble and was impacted by the hysteria that followed its burst.
| FactSnippet No. 1,572,839 |
7.
Cumulus Media reported it would restate quarterly revenues in 1999 as some markets did not comply with Cumulus' revenue recognition policies and booked some advertising contracts for their full value rather than recognizing revenue as the ads aired.
| FactSnippet No. 1,572,840 |
8.
Many professional radio people like Dickey were skeptical and believed the best course for Cumulus Media was to focus on the radio strategy and drop the internet projects.
| FactSnippet No. 1,572,841 |
9.
In June 2016, Cumulus Media announced the resignation of its executive vice president, treasurer and chief financial officer, Joseph P Hannan, to "pursue other interests" after six years with the company, to be replaced by John F Abbot.
| FactSnippet No. 1,572,842 |
10.
On November 29,2017, Cumulus Media filed for Chapter 11 bankruptcy as part of a restructuring of the company.
| FactSnippet No. 1,572,843 |
11.
On January 6,2021, in response to attempts to overturn the 2020 United States presidential election and the US Capitol attack, Cumulus Media executives directed its on-air personalities to stop spreading false information about a stolen election or face termination.
| FactSnippet No. 1,572,844 |
12.
In February 2011, Cumulus Media was again said to be in "exclusive negotiations" to acquire Citadel for $2.
| FactSnippet No. 1,572,845 |
13.
Additionally, Townsquare Media acquired Peak Broadcasting, and Cumulus swapped 15 more stations in Dubuque, IA and Poughkeepsie, NY in exchange for Peak Broadcasting's Fresno cluster.
| FactSnippet No. 1,572,846 |
14.
On January 11,2013, after acquiring the station from Family Radio, Cumulus Media re-launched WFME in New York City as a country music station under its new Nash FM brand.
| FactSnippet No. 1,572,847 |
16.
Cumulus Media stated that employees must be fully vaccinated by September 27,2021.
| FactSnippet No. 1,572,849 |
17.
On December 30,2008, Cumulus Media was issued a $14,000 Notice of Apparent Liability by the Federal Communications Commission related to the stations in the Macon, Georgia cluster.
| FactSnippet No. 1,572,850 |