And, for radio industry nostalgia lore, it will forever be woven into the history of a Talk station associated with ABC for many years and today a part of Cumulus … 0. She’s referring to the former WMAL-AM tower site. “Despite the COVID-19 pandemic’s material impact on revenue, the company generated over $90 million of cash in the quarter through quick and decisive expense actions, strong working capital management and the completion of the sale of land in Bethesda, MD, stated Cumulus Media President/CEO Mary Berner. The station is an affiliate of K-LOVE.. © 2021 Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. [Related: Cumulus Considers Selling Tower Holdings]. The initial term of each lease would be 10 years, followed by five option periods of five five years each. CUMULUS MEDIA engages listeners with high-quality local programming through 415 owned-and-operated 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 … The tower is less than one year old. Cumulus is the second largest radio station operator in the United States, having owned or operated 505 stations in 120 markets as of September 16, 2011. During the quarter, Cumulus executed agreement to monetize its tower portfolio and related assets for $213 million. Renderings by Solomon Cordwell Buenz, courtesy of Carmel Partners The property is the former site of a Cumulus Media Inc. radio station. 98.3 Nash Icon is a Cumulus Media station Station Address: 14 S. Monroe St. Monroe, MI 48161 Studio Phone Number: 734-242-8898 Station Business Number: 734-242-6600 Prize pick up and office hours are Monday - Friday 8:30am - 5:30pm Station Management Contact Information Dana Di England and Wales company registration number 2008885. In the last few years, Allen has found the industry to be in a similar pivot point to the situation his father had with FM in the mid 60’s. The company reported the agreement in a filing with the Securities and Exchange Commission and in its latest quarterly financial announcement. Vertical Bridge is a company that owns and operates communication infrastructure throughout the country, and in this deal added “more than 250 sites … “Despite the COVID-19 pandemic’s material impact on revenue, the company generated over $90 million of cash in the quarter through quick and decisive expense actions, strong working capital management and the completion of the sale of land in Bethesda, MD, stated Cumulus Media President/CEO Mary Berner. News and Business›Business and Law, Also reports drop in net revenue of 48% in latest quarter, By Paul Mclane ⋅ Tags ⋅ Cumulus Media ⋅ Mary Berner ⋅ asset sales, MMTC, NABOB call for industry parties to work together, The company has ambitions to expand further in northern Europe, FCC reminds 17 licensees in Colorado, Minnesota, Montana and Dakotas, Washington's WHUR to receive Heritage honor, Conducts Delhi trial and says 2.5 million cars in India have DRM receivers, Hopes to turn more podcasts into money-makers, FCC has taken notice as WSYL in eastern Georgia has often been silent over the last few years. Cumulus Media agreed to sell nearly all of its towers in a bid to increase its liquidity and help pay down debt. 14761 NW 86th St, Polk City, IA 50226. Cumulus on Monday reported that for the three months ended June 30, its revenue fell almost 48 percent from the same period in 2019, and reported a net loss for the 2020 quarter of $36 million. The broadcast company told the SEC the buyer is Vertical Bridge REIT, LLC and VB Nimbus, LLC, each an affiliate of Vertical Bridge Holdings, LLC, for the sale of “substantially all” of its tower sites “and certain other related assets.”. The broadcast company told the SEC the buyer is Vertical Bridge REIT, LLC and VB Nimbus, LLC, each an affiliate of Vertical Bridge Holdings, LLC, for the sale of “substantially all” of its tower sites “and certain other related assets.”  Cumulus pegged the value of the deal at approximately $213 million.

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