Investor Information

A leader in the radio broadcasting industry, CUMULUS MEDIA (NASDAQ: CMLS) combines high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands to deliver premium content choices to the more than 250 million people reached each month through its 428 owned-and-operated stations broadcasting in 87 U.S. media markets (including eight of the top 10), approximately 8,000 broadcast radio stations affiliated with its Westwood One network and numerous digital channels. Together, the Cumulus Radio Station Group and Westwood One platforms make CUMULUS MEDIA one of the few media companies that can provide advertisers with national reach and local impact. The Cumulus Radio Station Group and Westwood One are the exclusive radio broadcast partners to some of the largest brands in sports, entertainment, news, and talk, including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYs, the Academy of Country Music Awards, the Billboard Music Awards, and more. Additionally, it is the nation’s leading provider of country music and lifestyle content through its NASH brand, which serves country fans nationwide through radio programming, exclusive digital content, and live events.

On June 4, 2018 CUMULUS MEDIA successfully completed its financial restructuring and emerged from Chapter 11. The restructuring process allowed the Company to complete the balance sheet restructuring that is critical to the success of its turnaround strategy. Court filings and other information related to the court-supervised proceedings are available on a separate website administered by the Company’s claims agent, Epiq Systems. Use the links below to learn more about the restructuring:

CUMULUS MEDIA Announces Upsizing and Pricing of $500 Million Offering of Senior Secured First-Lien Notes

Atlanta, GA – 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 $200 million over the amount previously announced. The sale of the Notes is expected to close on June 26, 2019, subject to customary closing conditions. The Issuer expects to use the net proceeds of the offering to partially repay existing indebtedness under its senior secured term loan facility.

The Notes will be fully and unconditionally guaranteed by the Issuer’s direct parent and each of the Issuer’s direct and indirect subsidiaries that is a guarantor under the senior secured term loan facility, subject to the terms of the Indenture. The Notes and the related guarantees will be secured on a first-priority basis (subject to certain exceptions) by liens on substantially all of the assets of the Issuer and the guarantors other than certain assets secured on a first-priority basis under the Issuer’s asset-based revolving credit facility.

The Notes have not been, and will not be, registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The Notes and related guarantees were offered in a private offering exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to certain persons outside the United States in reliance on Regulation S under the Securities Act.

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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SEC Filings

06/12/19 – CUMULUS MEDIA Announces Upsizing and Pricing of $500 Million Offering of Senior Secured First-Lien Notes
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
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
02/26/19 – CUMULUS MEDIA’s presentation at J.P. Morgan 2019 Global High Yield & Leveraged Finance Conference from February 26, 2019
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
10/11/18 – CUMULUS MEDIA Announces Discounted Prepayment of a Portion of Senior Secured Term Loan Facility
10/03/18 – CUMULUS MEDIA presentation at Deutsche Bank’s 26th Annual Leverage Finance Conference
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
07/27/18 – 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
11/29/17 – Cumulus Enters Restructuring Support Agreement to Reduce Debt by Over $1 Billion
11/09/17 – 2017 Third Quarter Earnings Call Presentation
11/09/17 – Cumulus Reports Operating Results for Third Quarter 2017
10/26/17 – Cumulus Announces Selected Preliminary Operating Results for Third Quarter 2017
08/14/17 – Cumulus Reports Operating Results for Second Quarter 2017 Presentation
08/14/17 – Cumulus Reports Operating Results for Second Quarter 2017
07/31/17 – Cumulus Media Inc. Announces Conference Call To Discuss Second Quarter 2017 Operating Results
05/15/17 – 2017 First Quarter Earnings Call Presentation
05/15/17 – Cumulus Reports Operating Results for First Quarter 2017
05/05/17 – Cumulus Media Inc. Announces Conference Call To Discuss First Quarter 2017 Operating Results
03/16/17 – 2016 Fourth Quarter & Full Year Earnings Call Presentation
03/16/17 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2016
03/10/17 – Cumulus Announces Termination of Private Exchange Offer
03/08/17 – Cumulus Media Inc. Announces Conference Call To Discuss Fourth Quarter and Full Year 2016 Operating Results
02/15/17 – Cumulus Announces Extended Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
01/11/17 – Cumulus Announces Extended Expiration Date and Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
12/30/16 – Cumulus Media Inc. Announces Discounted Prepayment of a Portion of Senior Secured Term Loan Facility
12/27/16 – Cumulus Announces Extension of Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
12/12/16 – Cumulus Announces Launch of Private Exchange Offer for 7.75% Senior Notes due 2019; Majority of Holders Have Agreed to Participate
12/07/16 – Cumulus Announces Entry into Refinancing Support Agreement with Holders of 7.75% Senior Notes due 2019
11/08/16 – 2016 Third Quarter Earnings Call Presentation
11/08/16 – Cumulus Reports Operating Results for Third Quarter 2016
10/24/16 – Cumulus Media Inc. Announces Conference Call To Discuss Third Quarter 2016 Operating Results
10/12/16 – Cumulus Announces Reverse Stock Split
08/04/16 – 2016 Second Quarter Earnings Call Presentation
08/04/16 – Cumulus Reports Operating Results for Second Quarter 2016
07/28/16 – Cumulus Media Inc. Announces Conference Call To Discuss Second Quarter 2016 Operating Results
06/22/16 – Cumulus Media Appoints John Abbot As Chief Financial Officer
05/05/16 – Cumulus Reports Operating Results for First Quarter 2016
05/05/16 – 2016 First Quarter Earnings Call Presentation
04/22/16 – Cumulus Media Inc. Announces Conference Call To Discuss First Quarter 2016 Operating Results
03/10/16 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2015
03/10/16 – 2015 Fourth Quarter & Full Year Earnings Call Presentation
02/23/16 – Cumulus Media Inc. Announces Conference Call To Discuss Fourth Quarter and Full Year 2015 Operating Results
12/31/15 – Cumulus Media Inc. Announces Discounted Prepayment of a Portion of Senior Secured Term Loan Facility
11/05/15 – Cumulus Reports Operating Results for Third Quarter 2015
09/29/15 – Cumulus Media Appoints Mary G. Berner Chief Executive Officer
07/30/15 – Cumulus Reports Operating Results for Second Quarter 2015
04/30/15 – Cumulus Reports Operating Results for First Quarter 2015
03/02/15 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2014
11/10/14 – Cumulus Reports Operating Results for Third Quarter 2014
08/06/14 – Cumulus Reports Operating Results for Second Quarter 2014
04/29/14 – Cumulus Reports Operating Results for First Quarter 2014