Oct. 31 at 1:51 PM
Noble Capital Markets Research Report: Cumulus Media (
$CMLS) – National Advertising Perplexingly Weak
Q3 beats our downcast expectations. Q3 revenue of
$180.3 million and adj. EBITDA of
$16.7 million, both of which were modestly better than our estimates of
$179.0 million and
$12.9 million, respectively. Third quarter revenues declined 11.5% from the prior period, adversely affected by the absence of
$3.6 million in Political advertising and the absence of The Daily Wire and The Dan Bongino Show.
Read more: https://www.channelchek.com/news-channel/cumulus-media-cmls-national-advertising-perplexingly-weak