Financial Releases

CUMULUS MEDIA Reports Operating Results for the Third Quarter 2020

ATLANTA, Nov. 05, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced operating results for the three and nine months ended September 30, 2020. Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “In the third quarter, the Company continued to focus on maximizing revenue […]

CUMULUS MEDIA Announces Completion of Offer to Purchase 2026 Notes

ATLANTA, Nov. 03, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced that the Company has completed its asset sale offer to purchase $47,164,000 aggregate principal amount of its 6.750% Senior Secured First-Lien Notes due 2026 (the “Notes”), at 100% plus accrued and unpaid interest to, but […]

CUMULUS MEDIA Completes Initial Closing of Tower Portfolio Monetization Transaction for $208 Million

ATLANTA, Oct. 01, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced that the Company completed the initial closing of its tower portfolio monetization transaction for $208 million in gross proceeds on September 30, 2020. Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, […]

CUMULUS MEDIA Reports Operating Results for the Second Quarter 2020 and Announces Definitive Agreement to Monetize Tower Portfolio for $213 Million

ATLANTA, Aug. 10, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced operating results for the three and six months ended June 30, 2020. Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “Despite the COVID-19 pandemic’s material impact on revenue, the Company generated over […]

Cumulus Media Completes Sale of Land in Bethesda, Maryland to Toll Brothers for $74.1 Million

Expected to Generate Net Proceeds of $71.3 Million ATLANTA, June 24, 2020 — Cumulus Media Inc. [NASDAQ: CMLS] (the “Company,” “Cumulus,” “we,” “us,” or “our”) today announced that it has closed on the sale of an approximately 75-acre parcel of land in Bethesda, Maryland to Toll Brothers, continuing to execute on its commitment to reducing […]

CUMULUS MEDIA Adopts Short-Term Shareholder Rights Plan

ATLANTA, May 21, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (“Cumulus” or the “Company”) announced today the adoption of a short-term shareholder rights plan (the “Rights Plan”) designed to protect shareholder interests and maximize value for all shareholders. In adopting the Rights Plan, the Board has taken note of the unprecedented impact of the COVID-19 […]

CUMULUS MEDIA Reports Operating Results for the First Quarter 2020

ATLANTA, May 11, 2020 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced operating results for the three months ended March 31, 2020. Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “Regardless of the challenge, the Cumulus team has focused acutely on what matters most, […]