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Jeff Warshaw Makes Approximately $1.2B Bid to Buy Cumulus Media

According to Reuters, Warshaw and several unnamed investors want to take Cumulus private for $15-$17 per share.

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Connoisseur Media CEO Jeff Warshaw reportedly made an unsolicited offer to purchase Cumulus Media for approximately $1.2 billion. The proposed deal, which was reported on Thursday afternoon, caused shares of Cumulus to jump nearly 40%.  

According to Reuters, Warshaw and several unnamed investors want to take Cumulus private for $15-$17 per share. Warshaw declined to comment when reached via text by rbr.com.

Warshaw’s Connoisseur Media owns and operates 13 radio stations in Maryland, New York, and Connecticut. In 2019, Connoisseur Media executed an asset exchange with Cumulus. In the deal, Connoisseur acquired two radio stations in Southern Connecticut, including news/talk brand WICC in Bridgeport, Connecticut.  

A Cumulus Media spokesperson told Inside Radio that the company received  “an unsolicited, non-binding, highly conditional indication of interest.” The company added the letter was “consistent with its fiduciary duties.” 

Adding that, “the Cumulus Board of Directors is reviewing the letter.” 

Cumulus is radio’s third-largest group with 406 stations, the Westwood One radio network, and a growing digital platform that includes the Cumulus Podcast Network.

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Ron Roberts Joining AmericaOne Radio

“The talk radio format is saturated with conservative voices, with the industry having little to no room for a reasoned response from a liberal/progressive perspective,” says Roberts.

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Ron Roberts is joining AmericaOne Radio in Atlanta.

The Ron Show will air weeknights at 5:00 PM on the city’s progressive outlet. Roberts says he’s happy to offer a counter to the conservative domination of talk radio.

“The talk radio format is saturated with conservative voices, with the industry having little to no room for a reasoned response from a liberal/progressive perspective,” says Roberts. “My aim is to bring some balance to the dialogue by adding my voice to the fray. I’m a lifelong southern liberal, and know, from my travels throughout the southeast, that there are a lot more of us out there being drowned out by all the shouting from the other side. My goal is to provide a platform for them, and to rationally spell out how our nation’s problems are solvable with substantive ideas and conversation, instead of demonization and division. Make no mistake, though; I’m not holding back punches and I’ll call out bullshit when I see it, too. The future of this country, democracy in general, and the world on the whole, are all on the line.” 

Roberts, a 25-year radio veteran, will make his first entry into talk when his show premieres today.

Launched in 2020, AmericaOne in Atlanta airs several left-leaning shows. The station bills itself as bringing “a Progressive voice to the overly crowded radio landscape.

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Mike Gallagher Raising Funds For Hurricane Ian Relief

“This is what radio does best: opening the hearts and wallets of listeners to help fellow Americans they will likely never meet,” Gallagher said.

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Mike Gallagher spent his Monday radio show broadcasting from various locations around southwest Florida after Hurricane Ian ravaged areas of the region last week.

Gallagher has partnered with Food For The Poor, a non-profit relief organization, to bring flood relief and hurricane emergency kits to areas affected by the Category 4 storm.

“This is what radio does best: opening the hearts and wallets of listeners to help fellow Americans they will likely never meet,” Gallagher said. He spent a portion of his show broadcasting from a car dealership in Venice, Florida, which saw several automobiles damaged by falling trees, power lines, and debris.

A Tampa resident, Gallagher was forced to relocate his show to New York last week to remain on the air as Hurricane Ian barreled down on the Florida coast.

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Chris Stigall Inks Extension With AM 990 The Answer

He continued by saying he is “so grateful, and blessed, and humbled to be able to continue to do this and call this my job and talk to you every day.

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AM 990 The Answer morning host Chris Stigall has signed a multi-year extension with the Salem Media Group-owned station.

“I will be staying put with Philadelphia’s AM 990 The Answer, every morning in Philadelphia, for the next three years,” Stigall said on his podcast.

He continued by saying he is “so grateful, and blessed, and humbled to be able to continue to do this and call this my job and talk to you every day. It is never lost on my what a privilege it is that God has blessed me with the ability to do this for a job.”

Stigall also announced a one-year extension for his show on KCMO in Kansas City to continue.

“Since the day Chris began with Philadelphia’s AM 990 The Answer, he has engaged Philadelphians in intelligent and relevant conversation that has served to entertain and stimulate much thought in the minds of our audience,” Salem Philadelphia General Manager Lorenzo Caldara said. “He has secured such an attentive audience that can’t wait to listen and call in to him everyday Monday through Friday.”

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