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Cumulus Media Inc. (CMLS) Takes Equity Stake In Parent Of Rdio

|Includes: Cumulus Media Inc. (CMLS)

Cumulus Media is the biggest pure-play radio company in the country. It has approximately 520 owned and operated radio stations, as well as a distribution network reaching nearly 5,500 radio stations. Today the company announced a deal that will continue to expand its reach into the digital music ecospace.

It has reached a content, promotion, and advertising partnership with Rdio that provides listeners with a one-stop solution for their audio needs while also offering advertisers new opportunities to get in front of consumers. Rdio is the innovative digital music service with on-demand access to over 20 million songs founded by Skype co-creator Janus Fris.

Rdio is already available in over 30 countries. Music fans can find and play tunes they like among the 20 million songs and build a digital music collection. The collection can be made available in-home, in-office, or in-car, plus on the web, on tablets, and on smartphones. It allows listening to any song without ever hearing a single ad. It also lets friends and family to share their favorite music in real-time across Facebook and Twitter.

Cumulus is getting a significant equity stake in the parent company of Rdio, Pulser Media, in exchange for exclusive content, media, and on-air promotional commitments over a five-year period. Additionally, Rdio will leverage Cumulus' sales infrastructure to monetize its upcoming ad-supported free products including music on-demand, custom playlists, and exclusive content.

For further information about Cumulus Media, please visit cumulus.com

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