Noble Capital Markets Served as Valuation to Cumulus Media (CMLS)

April 2024

Noble Capital Markets is pleased to provide valuation services to Cumulus Media, Inc. Noble provided annual impairment analysis per the provisions of Accounting Standards Codification (“ASC”) 350 to Cumulus Media, Inc.  

Cumulus Media (NASDAQ: CMLS) is an audio-first media 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 400 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, Infinity Sports Network, AP News, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 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.

This transaction highlights Noble’s ongoing commitment to providing strategic capital markets and advisory services to middle-market companies across a wide range of sectors. With deep sector knowledge and a client-first approach, Noble supports companies throughout their lifecycle — from capital formation to M&A execution.

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For more information on this transaction, contact Francisco Penafiel @ fpenafiel@noblecapitalmarkets.com