Cumulus Media Appoints a Top Shareholder Steven M. Galbraith to Board of Directors
23 January 2025 - 8:00AM
Cumulus Media Inc. (NASDAQ: CMLS) today announced the appointment
of Steven M. Galbraith to its Board of Directors.
"We are thrilled to welcome Steve to our board," said Chairman
Andrew W. Hobson. "As a longtime shareholder in the Company, Steve
has demonstrated a deep commitment to the Company’s success. His
impressive investment management background and expertise
complement the diverse strengths and wide-ranging capabilities of
our existing board, and we are excited to leverage his vision and
insights to drive growth and capitalize on new opportunities.”
Galbraith is currently a managing member of
Kindred Capital Advisors LLC, and is among the largest shareholders
of Cumulus through his personal holdings and those held through
Kindred. Previously, Galbraith served as managing member of Herring
Creek Capital and was a partner at Maverick Capital. His extensive
financial services background also includes serving as Chief
Investment Officer at Morgan Stanley, where he played a pivotal
role in shaping the firm's investment strategies. In addition to
his professional achievements, Galbraith was an Adjunct Professor
at Columbia University Business School from 1998 to 2008, where he
taught securities analysis. He also previously served as an advisor
to the Office of Financial Research, an independent bureau
reporting to the U.S. Treasury, established under Dodd-Frank to
enhance the stability and transparency of the US financial
system.
Galbraith has also been actively involved in
various non-profit organizations. He has served on the Board of
Trustees of Tufts University and the National Constitution Center
in Philadelphia. Currently, he sits on the board of trustees of the
Success Academy Charter Schools, where he served as Chair, as well
as Third Way, the Educational Equity Lab, and the American Friends
of Hebrew University Endowment. Additionally, he is a board member
of Narragansett Brewing Company, Equity Data Science, and Said
Holdings Limited.
About Cumulus MediaCumulus
Media (NASDAQ: CMLS) is an audio-first media company delivering
premium content to over a quarter billion people every month —
wherever and whenever they want it. Cumulus Media engages listeners
with high-quality local programming through 400 owned-and-operated
radio stations across 84 markets; delivers nationally-syndicated
sports, news, talk, and entertainment programming from iconic
brands including the NFL, the NCAA, the Masters, Infinity Sports
Network, AP News, the Academy of Country Music Awards, and many
other world-class partners across more than 9,800 affiliated
stations through Westwood One, the largest audio network in
America; and inspires listeners through the Cumulus Podcast
Network, its rapidly growing network of original podcasts that are
smart, entertaining and thought-provoking. Cumulus Media provides
advertisers with personal connections, local impact and national
reach through broadcast and on-demand digital, mobile, social, and
voice-activated platforms, as well as integrated digital marketing
services, powerful influencers, full-service audio solutions,
industry-leading research and insights, and live event experiences.
For more information visit www.cumulusmedia.com.
For further information, please
contact:Cumulus Media Inc.Investor
Relations DepartmentIR@cumulus.com404-260-6600
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