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Cumulus Media has filed for bankruptcy. The company, which owns the Cumulus Podcast Network and Westwood One, is trying to eliminate around $600mn of debt. It’ll continue operating under chapter 11 protection in the meantime.
Competitors iHeartMedia filed for bankruptcy in Mar 2018, emerging in May 2019. Audacy also filed for bankruptcy in Jan 2024 (emerging in Sept). Cumulus itself last filed for bankruptcy less than ten years ago, in Nov 2017.
Exclusive: SiriusXM has brought NBA news show The Deep 3 and NFL show House Call to the SiriusXM Media network, for ad sales and distribution. The agreement covers both short-form and long-form video and audio episodes, and SiriusXM subscribers will also get the show ad-free.
On Netflix, video podcasts are watched more on mobile, and watched more during the day, said Netflix CFO Spencer Neumann.
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