Investors
CUMULUS MEDIA Reports Operating Results for the First Quarter 2021
ATLANTA, GA — May 5, 2021: Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced operating results for the three months ended March 31, 2021.
Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “Our first quarter results clearly reflect the benefits of our improved operating leverage in a recovering economy. Over the last three months, expanded vaccine distribution and greater economic activity have supported a significant pickup in advertising, leading to a positive revenue trajectory across all our businesses, with particularly strong results in podcasting which was up approximately 35% year-over-year. Additionally, the meaningful permanent cost reductions we initiated in 2020, more than $10 million of which were reflected in the first quarter, positively impacted Q1 2021 EBITDA. Looking ahead, with our strong competitive positioning, growing digital revenue streams, and substantial free cash flow generating potential, we believe we have multiple avenues along which to grow shareholder value.”
5/5/21 – CUMULUS MEDIA Reports Operating Results for the First Quarter 2021
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11/11/19 – CUMULUS MEDIA Reports Operating Results for the Third Quarter
10/21/19 – CUMULUS MEDIA Announces Conference Call to Discuss Third Quarter 2019 Operating Results
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06/11/19 – CUMULUS MEDIA Announces Launch of $300 Million Offering of Senior Secured First-Lien Notes
06/05/19 – CUMULUS MEDIA Achieves $200 Million Debt Reduction Milestone
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04/15/19 – CUMULUS MEDIA Announces Two Strategic Transactions
03/18/19 – CUMULUS MEDIA Reports Operating Results for Fourth Quarter and Full Year 2018
02/25/19 – CUMULUS MEDIA Announces Selected Preliminary Unaudited Operating Results for Fourth Quarter..
02/13/19 – CUMULUS MEDIA Announces Two Strategic Portfolio Optimization Transactions
11/05/18 – CUMULUS MEDIA Announces Conference Call to Discuss Third Quarter 2018 Operating Results
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08/20/18 – CUMULUS MEDIA Reports Operating Results for Second Quarter 2018
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07/27/18 – CUMULUS MEDIA Announces Relisting on the NASDAQ Stock Market
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03/28/18 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2017
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3/23/21 – DCP Entertainment And Westwood One Partner For Podcasts
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3/16/21 – Westwood One Presents Exclusive Multiplatform Audio Coverage Of The 2021 NCAA® Men’s Basketball Tournament
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1/12/21 – Westwood One Presents Season-Long College Basketball Coverage
12/17/20 – Westwood One Inks Partnership with Rich Eisen
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11/02/20 – Westwood to Distribute Rolling Stone Podcasts
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6/2/20 – Westwood One and Oxford Road Partner To Debut the Bongino Brief
4/27/20 – Westwood One Launches Weekends with Roula
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06/27/19 – CUMULUS MEDIA Announces Agreement to Sell WABC to Red Apple Media for $12.5 Million
06/05/19 – CUMULUS MEDIA Achieves $200 Million Debt Reduction Milestone
05/09/19 – CUMULUS MEDIA Reports Operating Results for First Quarter 2019
04/25/19 – CUMULUS MEDIA Announces Conference Call to Discuss First Quarter 2019 Operating Results
04/15/19 – CUMULUS MEDIA Announces Two Strategic Transactions
03/18/19 – CUMULUS MEDIA Reports Operating Results for Fourth Quarter and Full Year 2018
02/25/19 – CUMULUS MEDIA Announces Selected Preliminary Unaudited Operating Results for Fourth Quarter and Full Year 2018
02/13/19 – CUMULUS MEDIA Announces Two Strategic Portfolio Optimization Transactions
11/05/18 – CUMULUS MEDIA Announces Conference Call to Discuss Third Quarter 2018 Operating Results
08/20/18 – CUMULUS MEDIA Reports Operating Results for Second Quarter 2018
08/14/18 – CUMULUS MEDIA Announces Conference Call to Discuss Second Quarter 2018 Operating Results
07/17/18 – CUMULUS MEDIA Announces Relisting on the NASDAQ Stock Market
05/15/18 – Cumulus Reports Operating Results for First Quarter 2018
05/01/18 – Cumulus Restructuring Plan Confirmed by Court
03/28/18 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2017
PRESENTATIONS
Corporate Office
3280 Peachtree Road, NW
Suite 2200
Atlanta, Georgia 30305
ContactUs@cumulus.com
Investor Contact
Corporate Officers
Mary G. Berner
President and Chief Executive Officer
Frank Lopez-Balboa
Executive Vice President, Treasurer and Chief Financial Officer
Richard S. Denning
Executive Vice President, Secretary and General Counsel
CUMULUS MEDIA (NASDAQ: CMLS) is a leading audio-first media and entertainment 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 415 owned-and-operated stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across nearly 7,300 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through 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. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.
