Financial Releases

CUMULUS MEDIA Announces Agreement to Sell WABC to Red Apple Media for $12.5 Million

ATLANTA, June 27, 2019 — Cumulus Media Inc. [NASDAQ: CMLS] (the “Company,” “Cumulus,” “we,” “us,” or “our”) today announced that it has entered into an agreement to sell WABC (AM) in New York City to Red Apple Media, Inc., a wholly-owned subsidiary of Red Apple Group, for $12.5 million in cash. Mary G. Berner, President […]

Cumulus Media Announces Upsizing and Pricing of $500 Million Offering of Senior Secured First-Lien Notes

ATLANTA, June 12, 2019 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company”, “Cumulus”, “we”, “us” or “our”), announced today that Cumulus Media New Holdings Inc., its indirect wholly owned subsidiary (the “Issuer”), has priced $500 million in aggregate principal amount of 6.750% senior secured first-lien notes due 2026 (the “Notes”). This represents an increase of […]

Cumulus Media Announces Launch of $300 Million Offering of Senior Secured First-Lien Notes

ATLANTA, June 11, 2019 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company”, “Cumulus”, “we”, “us” or “our”) announced today that Cumulus Media New Holdings Inc., its indirect wholly owned subsidiary (the “Issuer”), plans to offer, subject to market conditions and other factors, $300 million in aggregate principal amount of senior secured first-lien notes due 2026 […]

In First Year Post-Emergence, Cumulus Media Achieves $200 Million Debt Reduction Milestone

Company Announces $115 Million Term Loan Prepayment Net Leverage Declines to 4.8x from 5.8x ATLANTA, June 05, 2019 — Cumulus Media Inc. [NASDAQ: CMLS] (the “Company,” “Cumulus,” “we,” “us,” or “our”) today announced that it has made a voluntary prepayment of $115 million on its first lien senior secured term loan. In the year since […]

CUMULUS MEDIA Reports Operating Results for First Quarter 2019

Q1 Net Revenue Growth of 1.4% and Adjusted EBITDA Growth of 3.8% ATLANTA, May 09, 2019 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “we,” “us,” or “our”) today announced operating results for the three months ended March 31, 2019. For the three months ended March 31, 2019, the Company reported net revenue of $267.5 million, an […]

Cumulus Media Announces Two Strategic Transactions

Announces Agreement to Sell KLOS-FM to Meruelo Media for $43 million Enters into Swap Agreement with Connoisseur Media to Acquire Four Stations in Allentown, PA ATLANTA, Ga., April 15, 2019 — Cumulus Media Inc. [NASDAQ: CMLS] (the “Company,” “Cumulus,” “we,” “us,” or “our”) today announced that it has entered into an agreement to sell KLOS-FM […]

CUMULUS MEDIA Reports Operating Results for Fourth Quarter and Full Year 2018

Reports Q4 Net Revenue Growth of 5.2% and Adjusted EBITDA Growth of 31.6% Reports Full Year Revenue Growth of 0.4% and Adjusted EBITDA Growth of 7.6% ATLANTA, March 18, 2019 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “we,” “us,” or “our”) today announced operating results for the three months and year ended December 31, 2018. […]

CUMULUS MEDIA Announces Selected Preliminary Unaudited Operating Results for Fourth Quarter and Full Year 2018

Expects to Report Q4 Net Revenue Growth of +5% and Adjusted EBITDA Growth of +30% (1)   Expects to Report Full Year Adjusted EBITDA Growth of +7% (1)  Announces Conference Call to Discuss Results on March 18th  ATLANTA, Feb. 25, 2019 — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “we,” “us,” or “our”) today announced selected preliminary unaudited […]

CUMULUS MEDIA Announces Two Strategic Portfolio Optimization Transactions

Selling Six Stations to Educational Media Foundation for $103.5 Million;Net Proceeds to Pay Down Debt and Reinvest in Growth Opportunities Swapping Three Stations with Entercom Communications Corp.;Lifting Cumulus to the Leading Position in Indianapolis Market ATLANTA, Feb. 13, 2019 — Cumulus Media Inc. [NASDAQ: CMLS] (the “Company”, “Cumulus”, “we”, “us”, or “our”) today announced that […]