Investor Information

CUMULUS MEDIA Conference Call to Discuss Second Quarter 2019 Operating Results

A stream of the call can be accessed via a link here, using the password “cumulusmedia”.

 

CUMULUS MEDIA Reports Operating Results for the Second Quarter 2019

ATLANTA, GA — August 8, 2019: CUMULUS MEDIA Inc. (NASDAQ: CMLS) (the “Company,” “we,” “us,” or “our”) today announced operating results for the three and six months ended June 30, 2019.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “In the second quarter, we continued to make great progress against the goals we set when we emerged from bankruptcy a little over a year ago. We delivered a solid financial performance, with same station revenue and Adjusted EBITDA up 1.8% and 3.7%, respectively, on an ex-political basis, driven by continued growth in national and network revenue, as well as industry-leading digital growth. Additionally, we have now closed several strategic portfolio optimization transactions and announced one more. The $146.5 million of gross proceeds from the closed transactions along with cash from operations allowed us to prepay $165 million of debt since our last earnings announcement, reducing our total post-bankruptcy debt by approximately $250 million and net leverage to 4.8x. Given the results of the past year, I am more confident than ever that the company will continue to deliver significant value to our investors, employees, listeners, and advertisers.”

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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 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYs, the American Country Music Awards, and many other world-class partners across nearly 8,000 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 local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.

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:

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SEC Filings

08/08/19 – CUMULUS MEDIA Reports Operating Results for the Second Quarter 2019
07/26/19 – CUMULUS MEDIA Announces Conference Call to Discuss Second Quarter 2019 Operating Results
07/22/19 – CUMULUS MEDIA Makes $50 Million Voluntary Debt Prepayment
06/27/19 – CUMULUS MEDIA Announces Agreement to Sell WABC to Red Apple Media for $12.5 Million
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