Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures - S&P Global Ratings’ Credit Research

Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures

Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures - S&P Global Ratings’ Credit Research
Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures
Published Nov 12, 2025
7 pages (2738 words) — Published Nov 12, 2025
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

This report does not constitute a rating action. We now expect CMG's S&P Global Ratings-adjusted trailing-eight-quarter gross leverage will be about 7.6x in 2025 and 7.0x in 2026, which compares with our previous forecast for about 6.9x in 2025 and 6.2x in 2026. S&P Global Ratings lowered its forecast for CMG's trailing-eight-quarter 2025 EBITDA by about 8% (to $338 million) and its 2026 forecast by about 9% (to $358 million). These revisions reflect the larger-than-expected declines in the company?s core advertising revenue due to weak macroeconomic conditions, given that economic and tariff-related uncertainty has negatively affected its key advertising categories, including automotive and home improvement, among others. We also lowered our forecast for CMG's gross retransmission revenue due to its

  
Brief Excerpt:

...November 12, 2025 This report does not constitute a rating action. What's new: We now expect CMG's S&P Global Ratings-adjusted trailing-eight-quarter gross leverage will be about 7.6x in 2025 and 7.0x in 2026, which compares with our previous forecast for about 6.9x in 2025 and 6.2x in 2026. S&P Global Ratings lowered its forecast for CMG's trailing-eight-quarter 2025 EBITDA by about 8% (to $338 million) and its 2026 forecast by about 9% (to $358 million). These revisions reflect the larger-than-expected declines in the company's core advertising revenue due to weak macroeconomic conditions, given that economic and tariff- related uncertainty has negatively affected its key advertising categories, including automotive and home improvement, among others. We also lowered our forecast for CMG's gross retransmission revenue due to its elevated pace of pay-tv subscriber churn. The company has enacted a series of cost reductions over the past 12 months, primarily related to overhead and workforce...

  
Report Type:

Full Report

Issuer
CMG Media Corp.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures" Nov 12, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-CMG-Media-Corp-Forecast-Lowered-On-Secular-And-Cyclical-Pressures-3476754>
  
APA:
S&P Global Ratings’ Credit Research. (). Tear Sheet: CMG Media Corp. Forecast Lowered On Secular And Cyclical Pressures Nov 12, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-CMG-Media-Corp-Forecast-Lowered-On-Secular-And-Cyclical-Pressures-3476754>
  
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