The lawsuit claims SiriusXM is bundling its streaming and satellite services as part of a scheme to “grossly underpay the royalties it owes.”
The radio company did see a 13% rise in podcasting revenue as it anticipates an overall recovery in the ad market later this year.
Cumulus Media's share price rose 16% after Q2 earnings and is more than 2.5 times above the 52-week low of $2.57 from May 9.
The determination sets inflation-adjusted rates at $.0026 per paid subscription stream.
That said, some titles -- like "I Will Always Love You" -- are off limits.
Christopher “Mad Dog” Russo, a 2022 Radio Hall of Fame inductee, will serve as master of ceremonies for the Nov. 2 event.
Their allegations against Adrian Strong span a decade and include coercion, drugging and rape. He vehemently denies the accusations and says the relationships were consensual.
Country and top 40 radio have always had a tenuous relationship, but at a time when the former is producing bigger hits, the latter may be embracing the crossover.
"We will all miss serving and working with all of you -- our readers and clients," said founder/president/publisher Joel Denver in a statement.
The company warned in May that its forecasted revenue “is unlikely to be sufficient” to maintain compliance with its debt covenants.
