SYRACUSE - Cumulus Media, the owner of three Syracuse radio stations, is being delisted by NASDAQ next week. The moves comes after CMLS stock closed below the NASDAQ minimum of $1.00 every day since November 1, 2024.
In Syracuse, the company owns top-40 93Q (WNTQ), alternative rock 95X (WAQX) and sports talker The Score 1260 (WSKO). Cumulus also previously owned classic rock 105.9 The Rebel, before selling it to Educational Media Foundation in 2019. What used to be The Rebel is now SGNL, a streaming-only service.
As of May 2, shares of Cumulus - the second largest radio station group in the USA behind iHeart - will move from NASDAQ to the over-the-counter market. When markets closed Friday, the stock was valued at 20.5 cents, well below its 52-week high at $3.34.
According to Billboard, the company lost $283 million in 2024, despite cutting costs by $43 million.