Cumulus Stock Gains, Blair Garner Show Ending

Cumulus Media stock was up some 9.3% at the close of trading Friday, as investors reacted positively to three key announcements:

• First, Westwood One News is closing its doors.
• Second, as reported by Radio Ink, 3% of the Cumulus workforce will see their jobs permanently erased.
• Third, Westwood One has notified told affiliates that The Blair Garner Show will end on Sunday, August 9

At the Closing Bell on Friday, CMLS finished at an even $4, a 9.3% improvement from Thursday that puts shares back where they were prior to the July 4 holiday weekend.

This indicates that inventors likely seek a leaner, more efficient operation at Cumulus. And, this involves trimming the payroll, RBR/TVRB reports.

Unlike CBS News Radio or ABC News Radio, Westwood One News distinguishes itself by offering fully customizable locally branded news updates at the top and bottom of each hour, day and night, seven days a week.

Among the 962 affiliates impacted by the closure of Westwood One News, scheduled for August 30, are Cumulus Media’s WLS-AM in Chicago, KGO-AM in San Francisco, KABC-AM in Los Angeles, and WJR-AM in Detroit. Affiliates also include Hubbard Radio’s WTOP-FM in Washington, D.C., and Entercom-owned KYW-AM in Philadelphia. Bloomberg Radio also utilizes Westwood One News, according to the WWO website.

Prior to joining Cumulus, Garner hosted the syndicated “After Midnite” for Premiere Networks for 20 years.