{"version":"company-facts.v1","source":"https://secwatch.observer","generated_at":"2026-07-14T20:54:44.530853+00:00","company":{"ticker":"CMLS","cik":1058623,"company_name":"CUMULUS MEDIA INC"},"pagination":{"limit":100,"returned":40,"next_cursor":null},"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer","counterparties":{"contract_counterparty":[{"display_name":"Bank of America, N.A.","detail":"credit_facility","count":2,"first_seen":"2023-06-13T23:59:59+00:00","last_seen":"2024-05-03T23:59:59+00:00","evidence_fact_ids":[55622,139395]},{"display_name":"Ad-Hoc Group","detail":"credit_facility","count":1,"first_seen":"2024-04-19T23:59:59+00:00","last_seen":"2024-04-19T23:59:59+00:00","evidence_fact_ids":[60423]},{"display_name":"Consenting 2029 Holders","detail":"notes_offering","count":1,"first_seen":"2026-03-05T23:59:59+00:00","last_seen":"2026-03-05T23:59:59+00:00","evidence_fact_ids":[30041]},{"display_name":"Fifth Third Bank and ABL Parties","detail":"notes_offering","count":1,"first_seen":"2026-03-05T23:59:59+00:00","last_seen":"2026-03-05T23:59:59+00:00","evidence_fact_ids":[30042]},{"display_name":"U.S. Bank Trust Company, National Association","detail":"notes_offering","count":1,"first_seen":"2024-05-03T23:59:59+00:00","last_seen":"2024-05-03T23:59:59+00:00","evidence_fact_ids":[55621]}],"lender":[{"display_name":"Bank of America, N.A.","detail":"term_loan","count":1,"first_seen":"2024-05-03T23:59:59+00:00","last_seen":"2024-05-03T23:59:59+00:00","evidence_fact_ids":[55626]},{"display_name":"U.S. Bank Trust Company, National Association","detail":"senior_notes","count":1,"first_seen":"2024-05-03T23:59:59+00:00","last_seen":"2024-05-03T23:59:59+00:00","evidence_fact_ids":[55625]}]},"facts":[{"fact_type":"earnings_release","fact_key":"c9651c7086e38ffcdd650c0c63fbd0325072b52c","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-04-29T23:59:59+00:00","payload":{"eps_text":"Diluted loss per share $ (0.96)","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"net loss of $16.9 million","period_text":"the three months ended March 31, 2026","report_date":"2026-04-29","result_type":"reported_results","revenue_text":"$164.4 million"},"claim":"CUMULUS MEDIA INC reported the three months ended March 31, 2026 results: revenue $164.4 million, net income net loss of $16.9 million, EPS Diluted loss per share $ (0.96).","evidence_excerpt":"value creation.\" Operating Summary (dollars in thousands, except percentages and per share data): For the three months ended March 31, 2026, the Company reported net revenue of $164.4 million, a decrease of 12.2% from the three months ended March 31, 2025, net loss of $16.9 million and Adjusted EBITDA of $2.7 million. As Reported Three Months Ended March 31, 2026","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-26-000028","anchor_url":"https://secwatch.observer/filing/0001058623-26-000028#claim-c9651c7086e38ffcdd650c0c63fbd0325072b52c","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862326000028/0001058623-26-000028-index.htm"},{"fact_type":"distress_event","fact_key":"9a25ea2d5e54d4c95a2131da59472ccd70f70acd","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-04-17T23:59:59+00:00","payload":{"case_number":"26-90346","court":"United States Bankruptcy Court for the Southern District of Texas","item_codes_triggered":["1.03"],"petition_date":"2026-03-04","proceeding_type":"chapter_11"},"claim":"CUMULUS MEDIA INC entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2026-03-04).","evidence_excerpt":"on March 4, 2026, Cumulus Media Inc. (the “Company”) and certain of its direct and indirect subsidiaries (collectively with the Company, the “Company Parties”) commenced filing voluntary petitions (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001104659-26-044909","anchor_url":"https://secwatch.observer/filing/0001104659-26-044909#claim-9a25ea2d5e54d4c95a2131da59472ccd70f70acd","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926044909/0001104659-26-044909-index.htm"},{"fact_type":"earnings_release","fact_key":"10d8a5a64a7ebc6188706e6ce690218062facef6","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-04-10T23:59:59+00:00","payload":{"eps_text":"$(11.55) per diluted share","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$(200,702)","period_text":"the year ended December 31, 2025","report_date":"2026-04-10","result_type":"reported_results","revenue_text":"$741,695"},"claim":"CUMULUS MEDIA INC reported the year ended December 31, 2025 results: revenue $741,695, net income $(200,702), EPS $(11.55) per diluted share.","evidence_excerpt":"per share $ (7.75) $ (13.60) 43.0 % Diluted loss per share $ (7.75) $ (13.60) 43.0 % As Reported Year Ended December 31, 2025 Year Ended December 31, 2024 % Change Net revenue $ 741,695 $ 827,076 (10.3) % Net loss $ (200,702) $ (283,254) 29.1 % Adjusted EBITDA (1) $ 52,006 $ 82,708 (37.1) % Basic loss per share $ (11.55) $ (16.79) 31.2 % Diluted loss per share $","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001058623-26-000017","anchor_url":"https://secwatch.observer/filing/0001058623-26-000017#claim-10d8a5a64a7ebc6188706e6ce690218062facef6","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862326000017/0001058623-26-000017-index.htm"},{"fact_type":"earnings_release","fact_key":"92840d3f930fe83f4c46b5f017ca5b5717821379","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-04-10T23:59:59+00:00","payload":{"eps_text":"$(7.75) per diluted share","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$(135,107)","period_text":"the three months ended December 31, 2025","report_date":"2026-04-10","result_type":"reported_results","revenue_text":"$188,074"},"claim":"CUMULUS MEDIA INC reported the three months ended December 31, 2025 results: revenue $188,074, net income $(135,107), EPS $(7.75) per diluted share.","evidence_excerpt":"net loss of $200.7 million and Adjusted EBITDA of $52.0 million. As Reported Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 % Change Net revenue $ 188,074 $ 218,576 (14.0) % Net loss $ (135,107) $ (231,080) 41.5 % Adjusted EBITDA (1) $ 9,476 $ 25,039 (62.2) % Basic loss per share $ (7.75) $ (13.60) 43.0 % Diluted loss per share $","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001058623-26-000017","anchor_url":"https://secwatch.observer/filing/0001058623-26-000017#claim-92840d3f930fe83f4c46b5f017ca5b5717821379","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862326000017/0001058623-26-000017-index.htm"},{"fact_type":"material_agreement","fact_key":"f523d31d2e61233c904ccfe211404074445b5952","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-03-05T23:59:59+00:00","payload":{"action":"entry","agreement_name":"ABL Commitment Letter","agreement_type":"notes_offering","counterparty":"Fifth Third Bank and ABL Parties","effective_date":"2026-03-04","item_codes_triggered":["1.01"],"value_text":"Entry into ABL Commitment Letter with Fifth Third Bank as administrative agent and lenders party to"},"claim":"CUMULUS MEDIA INC entered into ABL Commitment Letter with Fifth Third Bank and ABL Parties valued at Entry into ABL Commitment Letter with Fifth Third Bank as administrative agent and lenders party to (effective 2026-03-04).","evidence_excerpt":"Item 1.01 Entry into a Material Definitive Agreement. Restructuring Support Agreement and ABL Commitment Letter In furtherance of the contemplated Restructuring, on March 4, 2026, prior to launching the Solicitation (as defined below) and prior to commencing the Chapter 11 Cases, the Company Parties entered into a (i) restructuring support agreement (together with all schedules, annexes, and exhibits attached thereto, the “Restructuring Support Agreement”) with an ad hoc group of (a) certain lenders (the “Consenting 2029 Term Loan Lenders”) of the Company’s outstanding term loans under that certain Credit Agreement, dated as of May 2, 2024 (the “2029 Credit Agreement”) and (b) certain holders (the “Consenting 2029 Noteholders” and, together with Consenting 2029 Term Loan Lenders, the “Consenting 2029 Holders”) of the Company’s 8.00% senior secured first-lien notes due 2029 issued under that certain Indenture, dated as of May 2, 2024 (the “2029 Indenture”) and (ii) that certain commitme","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001104659-26-023855","anchor_url":"https://secwatch.observer/filing/0001104659-26-023855#claim-f523d31d2e61233c904ccfe211404074445b5952","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926023855/0001104659-26-023855-index.htm"},{"fact_type":"material_agreement","fact_key":"12031b642419b765816ee9b927a22b146501fac4","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-03-05T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Restructuring Support Agreement","agreement_type":"notes_offering","counterparty":"Consenting 2029 Holders (Consenting 2029 Term Loan Lenders and Consenting 2029 Noteholders)","effective_date":"2026-03-04","item_codes_triggered":["1.01"],"value_text":"Entry into Restructuring Support Agreement with Consenting 2029 Holders to support the Plan and Rest"},"claim":"CUMULUS MEDIA INC entered into Restructuring Support Agreement with Consenting 2029 Holders (Consenting 2029 Term Loan Lenders and Consenting 2029 Noteholders) valued at Entry into Restructuring Support Agreement with Consenting 2029 Holders to support the Plan and Rest (effective 2026-03-04).","evidence_excerpt":"Item 1.01 Entry into a Material Definitive Agreement. Restructuring Support Agreement and ABL Commitment Letter In furtherance of the contemplated Restructuring, on March 4, 2026, prior to launching the Solicitation (as defined below) and prior to commencing the Chapter 11 Cases, the Company Parties entered into a (i) restructuring support agreement (together with all schedules, annexes, and exhibits attached thereto, the “Restructuring Support Agreement”) with an ad hoc group of (a) certain lenders (the “Consenting 2029 Term Loan Lenders”) of the Company’s outstanding term loans under that certain Credit Agreement, dated as of May 2, 2024 (the “2029 Credit Agreement”) and (b) certain holders (the “Consenting 2029 Noteholders” and, together with Consenting 2029 Term Loan Lenders, the “Consenting 2029 Holders”) of the Company’s 8.00% senior secured first-lien notes due 2029 issued under that certain Indenture, dated as of May 2, 2024 (the “2029 Indenture”) and (ii) that certain commitme","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001104659-26-023855","anchor_url":"https://secwatch.observer/filing/0001104659-26-023855#claim-12031b642419b765816ee9b927a22b146501fac4","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926023855/0001104659-26-023855-index.htm"},{"fact_type":"distress_event","fact_key":"4a3f6f61af5ae108fdbda2902b02687e714a0de1","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2026-03-05T23:59:59+00:00","payload":{"case_number":null,"court":null,"item_codes_triggered":["1.03"],"petition_date":"2026-03-04","proceeding_type":"chapter_11"},"claim":"CUMULUS MEDIA INC entered chapter 11 (petition 2026-03-04).","evidence_excerpt":"On March 4, 2026 (i.e., the Petition Date), the Company Parties filed voluntary petitions to commence the Chapter 11 Cases in the Bankruptcy Court to implement the Plan effectuating the Restructuring","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001104659-26-023855","anchor_url":"https://secwatch.observer/filing/0001104659-26-023855#claim-4a3f6f61af5ae108fdbda2902b02687e714a0de1","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926023855/0001104659-26-023855-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"a49c0a4c14ac7680fc31c0521443437af803336d","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2025-04-23T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"delisting_pending","cure_deadline":null,"deficiency_type":"other","delisting_effective_date":"2025-05-02","exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2025-04-23","notice_type":"delisting_notice","plan_due_date":null,"raw_rule_text":"Nasdaq Listing Rules 5450(a)(2) and 5450(b)(1)(A)","reported_value":null,"rule_numbers":["5450(a)(2)","5450(b)(1)(A)"],"rules_cited_in_text":true},"claim":"CUMULUS MEDIA INC received a nasdaq delisting notice notice regarding other (rules 5450(a)(2), 5450(b)(1)(A)).","evidence_excerpt":"April 23, 2025, Cumulus Media Inc. (the “Company”) received a notification from The NASDAQ Stock Market LLC (“Nasdaq”) indicating that, as a result of the Company’s previously disclosed noncompliance with Nasdaq Listing Rules 5450(a)(2) and 5450(b)(1)(A), Nasdaq has determined to delist the Company’s Class A common stock from the Nasdaq Global Market and will suspend trading of the Company’s Class A common stock on Nasdaq effective at the open of business, May 2, 2025, unless the Company timely requests an appeal of this determination before the Nasdaq Hearings Panel (the \"Panel\") by April 30","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-25-000039","anchor_url":"https://secwatch.observer/filing/0001058623-25-000039#claim-a49c0a4c14ac7680fc31c0521443437af803336d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862325000039/0001058623-25-000039-index.htm"},{"fact_type":"governance_change","fact_key":"e53f58d84d8777aced6e665359bedf2badb7119a","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2025-03-10T23:59:59+00:00","payload":{"change_type":"bylaw_amendment","effective_date":"2025-03-04","item_codes_triggered":["5.03"],"summary_text":"Adopted director resignation policy for majority vote standard in uncontested elections"},"claim":"CUMULUS MEDIA INC: Adopted director resignation policy for majority vote standard in uncontested elections (effective 2025-03-04).","evidence_excerpt":"On March 4, 2025, the Board of Directors (the “Board”) of Cumulus Media Inc. (the “Company”), in part based upon feedback received during the Company’s extensive stockholder engagement efforts over the past year, unanimously approved an amendment (the “Bylaw Amendment”) to Section 2.7 of the Company’s Bylaws, as amended and restated (the “Bylaws”) to implement a director resignation policy to require that any incumbent director nominee who does not receive a majority of the votes cast in an election that is not a Contested Election (as defined therein) will promptly tender his or her resignation for consideration in accordance with the procedures set forth in Section 2.7 of the Bylaws.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-25-000037","anchor_url":"https://secwatch.observer/filing/0001058623-25-000037#claim-e53f58d84d8777aced6e665359bedf2badb7119a","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862325000037/0001058623-25-000037-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"21b1c59ee5c1decfff6882ef818bd84fc39d5c29","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2025-03-07T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"plan_due","cure_deadline":"2025-04-21","deficiency_type":"stockholders_equity","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":"$10,000,000","notice_date":"2025-03-06","notice_type":"deficiency_notice","plan_due_date":"2025-04-21","raw_rule_text":null,"reported_value":"$6,951,000","rule_numbers":["5450(b)(1)(A)"],"rules_cited_in_text":true},"claim":"CUMULUS MEDIA INC received a nasdaq deficiency notice notice regarding stockholders equity (rules 5450(b)(1)(A)).","evidence_excerpt":"March 6, 2025, Cumulus Media Inc. (the “Company”) received a notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that, based on the Company’s stockholders’ equity of $6,951,000 as of December 31, 2024, as reported in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the Company is not in compliance with the minimum stockholders’ equity requirement for continued listing on the NASDAQ Global Market under NASDAQ Listing Rule 5450(b)(1)(A), which requires companies to maintain stockholders’ equity of at least $10","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001058623-25-000034","anchor_url":"https://secwatch.observer/filing/0001058623-25-000034#claim-21b1c59ee5c1decfff6882ef818bd84fc39d5c29","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862325000034/0001058623-25-000034-index.htm"},{"fact_type":"executive_change","fact_key":"6b56857916","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2025-01-22T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2025-01-22","interim":false,"role":"director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Steven M. Galbraith was appointed as director at CUMULUS MEDIA INC.","evidence_excerpt":"the Board, upon the recommendation of the Nominating and Governance Committee of the Board, appointed Steven M. Galbraith to serve as a director, effective January 22, 2025.","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001058623-25-000004","anchor_url":"https://secwatch.observer/filing/0001058623-25-000004#claim-6b56857916","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862325000004/0001058623-25-000004-index.htm"},{"fact_type":"executive_change","fact_key":"04d6442c5f","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2025-01-22T23:59:59+00:00","payload":{"action":"resigned","action_category":"departure","departure_tone":"routine","effective_date":"2025-01-22","interim":false,"role":"director","role_category":"director","successor_name":"Steven M. Galbraith","successor_named":true},"claim":"Matthew Blank resigned as director at CUMULUS MEDIA INC.","evidence_excerpt":"On January 22, 2025, Matthew Blank notified the Board of Directors (the “Board”) of Cumulus Media Inc. (the “Company”) that he has decided to resign from the Board to devote more time to his other commitments, effective as of January 22, 2025.","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001058623-25-000004","anchor_url":"https://secwatch.observer/filing/0001058623-25-000004#claim-04d6442c5f","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862325000004/0001058623-25-000004-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"4e00b5174eaf6065786e88b6bc9d3ab786013793","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-12-20T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"deficient","cure_deadline":"2025-06-16","deficiency_type":"minimum_bid_price","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2024-12-16","notice_type":"deficiency_notice","plan_due_date":null,"raw_rule_text":null,"reported_value":null,"rule_numbers":["5550(a)(2)"],"rules_cited_in_text":true},"claim":"CUMULUS MEDIA INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).","evidence_excerpt":"December 16, 2024, Cumulus Media Inc. (the “Company”) received a notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company is not in compliance with NASDAQ Listing Rule 5550(a)(2) (the “Rule”) because the bid price of the Company’s Class A common stock on The Nasdaq Global Market has closed below $1.00 per share for 30 consecutive business days. The NASDAQ letter has no immediate effect on the NASDAQ listing or trading of the Company’s Class A common stock. In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-24-000109","anchor_url":"https://secwatch.observer/filing/0001058623-24-000109#claim-4e00b5174eaf6065786e88b6bc9d3ab786013793","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862324000109/0001058623-24-000109-index.htm"},{"fact_type":"debt_financing","fact_key":"9dff7c443358df33e08c5adaefc460b8953f032e","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-05-03T23:59:59+00:00","payload":{"counterparty":"Bank of America, N.A.","effective_date":"2024-05-02","event":"incurrence","instrument_type":"term_loan","interest_rate_text":null,"item_codes_triggered":["2.03"],"maturity_text":null,"principal_text":"approximately $311.8 million aggregate principal amount"},"claim":"CUMULUS MEDIA INC incurred term loan of approximately $311.8 million aggregate principal amount with Bank of America, N.A..","evidence_excerpt":"On or about the Issue Date, approximately $311.8 million aggregate principal amount of the New Term Loans will be outstanding under the New Credit Agreement as a result of the settlement of the Term Loan Exchange Offer","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001104659-24-056549","anchor_url":"https://secwatch.observer/filing/0001104659-24-056549#claim-9dff7c443358df33e08c5adaefc460b8953f032e","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465924056549/0001104659-24-056549-index.htm"},{"fact_type":"debt_financing","fact_key":"c91d7008727eac61639ddc0983a95dbe085672c7","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-05-03T23:59:59+00:00","payload":{"counterparty":"U.S. Bank Trust Company, National Association","effective_date":"2024-05-02","event":"incurrence","instrument_type":"senior_notes","interest_rate_text":"8.000% per 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2024-05-02).","evidence_excerpt":"In connection with the Term Loan Exchange Offer, certain other subsidiaries of the Company, Bank of America, N.A., as Administrative Agent, and the other banks and financial institutions party thereto as lenders entered into a new Term Loan Credit Agreement (the “New Credit Agreement”) providing for the New Term Loans, effectuated through the Term Loan Exchange Agreement (the “Exchange Amendment”), dated as of May 2, 2024, by and among the Issuer, certain other subsidiaries of the Company, Bank of America, N.A., as administrative agent, and the other banks and financial institutions party thereto as 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aggregate principal amount of 8.000% Senior Secured First-Lien Notes due 2029 (effective 2024-05-02).","evidence_excerpt":"On May 2, 2024 (the “Issue Date”), Cumulus Media New Holdings Inc. (the “Issuer”), a wholly-owned subsidiary of Cumulus Media Inc. (the “Company”), consummated its previously announced exchange offer (the “Exchange Offer”) pursuant to which approximately $325.7 million aggregate principal amount of the Issuer’s 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) were tendered for new 8.000% Senior Secured First-Lien Notes due 2029 (the “New Notes”) issued by the Issuer.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001104659-24-056549","anchor_url":"https://secwatch.observer/filing/0001104659-24-056549#claim-0f7fd98fa7ef3d050ac6dffcd580baaccf979bf1","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000110465924056549/0001104659-24-056549-index.htm"},{"fact_type":"earnings_release","fact_key":"8b75ccc609bcd7bedb13584ea5ba84805f119f6f","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-05-03T23:59:59+00:00","payload":{"eps_text":"Basic loss per share $ 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approved Proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2024 at the 2024-05-02 meeting.","evidence_excerpt":"Proposal No. 3 (Proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2024): Votes For Votes Against Abstain 14,185,712 6,716 214,176 As a result of the foregoing, the proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2024 was approved.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-24-000069","anchor_url":"https://secwatch.observer/filing/0001058623-24-000069#claim-a353138a3022a8e45527d3a30f11c6c37b5defb3","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862324000069/0001058623-24-000069-index.htm"},{"fact_type":"shareholder_vote","fact_key":"11dead37743a405f2263b6ed0d5373f7f6b6ee9a","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-05-02T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2024-05-02","outcome":"failed","proposal_text":"Proposal to approve, on an advisory basis, the compensation paid to the Company’s named executive officers","proposal_type":"say_on_pay","results":[{"broker_non_votes":"4,012,568","subject":null,"votes_abstain":"16,645","votes_against":"6,742,340","votes_for":"3,635,051","votes_withheld":null}]},"claim":"CUMULUS MEDIA INC shareholders rejected Proposal to approve, on 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Kushner 6,884,184 3,509,852 4,012,568 As a result of the foregoing vote, each of the seven listed nominees were elected to serve as directors of the Company until the Company’s next annual meeting of stockholders and until their successors are elected and qualified.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-24-000069","anchor_url":"https://secwatch.observer/filing/0001058623-24-000069#claim-3555c74fa47eb2fc66c918a10470764e13680179","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862324000069/0001058623-24-000069-index.htm"},{"fact_type":"material_agreement","fact_key":"cadf7f4471e0bd2705e001e7576aa6ba08ecee28","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-04-19T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Transaction Support Agreement","agreement_type":"credit_facility","counterparty":"Ad-Hoc Group","effective_date":"2024-04-18","item_codes_triggered":["1.01"],"value_text":"1% paid-in-kind fee"},"claim":"CUMULUS MEDIA INC entered into Transaction Support Agreement with Ad-Hoc Group valued at 1% paid-in-kind fee (effective 2024-04-18).","evidence_excerpt":"On April 18, 2024, Cumulus Media Inc. (the “Company”) announced that its wholly-owned subsidiary, Cumulus Media New Holdings Inc. 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(117,879) $ 16,235 N/A Adjusted EBITDA $ 90,728 $ 165,982 (45.3) % Basic (loss) income per share $ (6.83) $ 0.83 N/A Diluted (loss) income per share $ (6.83) $ 0.81 N/A","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-24-000026","anchor_url":"https://secwatch.observer/filing/0001058623-24-000026#claim-225f5f823773dd7680d0fee5a43ebee8ff4654c2","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/0001058623-24-000026-index.htm"},{"fact_type":"earnings_release","fact_key":"aea33f9fde64c04c319141029702d5986640da8e","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2024-02-27T23:59:59+00:00","payload":{"eps_text":"$ (5.94)","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$ (98,066)","period_text":"the three months ended December 31, 2023","report_date":"2024-02-27","result_type":"reported_results","revenue_text":"$ 221,301"},"claim":"CUMULUS MEDIA INC reported the three months ended December 31, 2023 results: revenue $ 221,301, net income $ (98,066), EPS $ (5.94).","evidence_excerpt":"Net revenue $ 221,301 $ 251,270 (11.9) % Net loss $ (98,066) $ (54) 181,503.7 % Adjusted EBITDA $ 22,798 $ 42,717 (46.6) % Basic loss per share $ (5.94) $ (0.00) N/A Diluted loss per share $ (5.94) $ (0.00) N/A","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-24-000026","anchor_url":"https://secwatch.observer/filing/0001058623-24-000026#claim-aea33f9fde64c04c319141029702d5986640da8e","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/0001058623-24-000026-index.htm"},{"fact_type":"earnings_release","fact_key":"694b8a9bb0299e4a381ac926472994b39b703e16","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2023-10-27T23:59:59+00:00","payload":{"eps_text":"$0.16","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$2.7 million","period_text":"three and nine months ended 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streaming,","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-23-000089","anchor_url":"https://secwatch.observer/filing/0001058623-23-000089#claim-694b8a9bb0299e4a381ac926472994b39b703e16","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000089/0001058623-23-000089-index.htm"},{"fact_type":"shareholder_vote","fact_key":"69851f672e08a7f4c899dd11ac99bfd12c96e323","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2023-09-21T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-04-26","outcome":"passed","proposal_text":"Advisory vote on the frequency of future Say-on-Pay Votes","proposal_type":"say_on_pay_frequency","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":null,"votes_against":null,"votes_for":"every year","votes_withheld":null}]},"claim":"CUMULUS MEDIA INC shareholders approved Advisory vote on the frequency of future Say-on-Pay Votes at the 2023-04-26 meeting.","evidence_excerpt":"the Company’s stockholders expressed their preference for Say-on-Pay Votes to be conducted every year","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-23-000081","anchor_url":"https://secwatch.observer/filing/0001058623-23-000081#claim-69851f672e08a7f4c899dd11ac99bfd12c96e323","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000081/0001058623-23-000081-index.htm"},{"fact_type":"earnings_release","fact_key":"d2de762d69e33070361f26a3e2596947ddbaee78","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2023-07-28T23:59:59+00:00","payload":{"eps_text":"$(0.06) per share","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"net loss of $1.1 million","period_text":"the three and six months ended June 30, 2023","report_date":"2023-07-28","result_type":"reported_results","revenue_text":"$210.1 million"},"claim":"CUMULUS MEDIA INC reported the three and six months ended June 30, 2023 results: revenue $210.1 million, net income net loss of $1.1 million, EPS $(0.06) per share.","evidence_excerpt":"cost reductions, and execute on our strategy to opportunistically deploy capital to maximize long-term shareholder value.” Q2 Performance Summary: • Posted total net revenue of $210.1 million, a decline of 11% year-over-year • Generated digital revenue of $37.5 million, representing 18% of total revenue, driven by digital marketing services growth of 21%","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001058623-23-000076","anchor_url":"https://secwatch.observer/filing/0001058623-23-000076#claim-d2de762d69e33070361f26a3e2596947ddbaee78","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000076/0001058623-23-000076-index.htm"},{"fact_type":"material_agreement","fact_key":"e4efb23b2ea54e4727e61f2233c47215e563a828","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA 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(“BofA”), as a lender and Administrative Agent and certain other lenders from time to time party thereto, which provides for a $525.0 million senior secured term loan (the “Term Loan Facility”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-23-000065","anchor_url":"https://secwatch.observer/filing/0001058623-23-000065#claim-e4efb23b2ea54e4727e61f2233c47215e563a828","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/0001058623-23-000065-index.htm"},{"fact_type":"shareholder_vote","fact_key":"44e5b85ea6532ed564789dc7d7bcc3d480e4c798","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2023-04-27T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-04-26","outcome":"passed","proposal_text":"Proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 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approved Proposal to approve, on an advisory basis, the compensation paid to the Company's named executive officers at the 2023-04-26 meeting.","evidence_excerpt":"Proposal No. 2 (Proposal to approve, on an advisory basis, the compensation paid to the Company’s named executive officers): Votes For Votes Against Abstain Broker Non-Votes 6,710,589 6,135,879 19,042 2,547,897","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-23-000050","anchor_url":"https://secwatch.observer/filing/0001058623-23-000050#claim-bcbdcfe3193b98a75301dbb0a273fe011423c4f7","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000050/0001058623-23-000050-index.htm"},{"fact_type":"shareholder_vote","fact_key":"2d57fd94c0d6bc8e9efc05f9a21b5059c8033dab","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA 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Kushner 9,856,652 3,008,858 2,547,897","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-23-000050","anchor_url":"https://secwatch.observer/filing/0001058623-23-000050#claim-2d57fd94c0d6bc8e9efc05f9a21b5059c8033dab","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000050/0001058623-23-000050-index.htm"},{"fact_type":"earnings_release","fact_key":"042d94941868915ac2fa70f1e29518b7fb1b3ff3","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2023-04-27T23:59:59+00:00","payload":{"eps_text":"$(1.17) per basic share","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"net loss of $21.5 million","period_text":"the three months ended March 31, 2023","report_date":"2023-04-27","result_type":"reported_results","revenue_text":"$205.7 million"},"claim":"CUMULUS MEDIA INC reported the three months ended March 31, 2023 results: revenue $205.7 million, net income net loss of $21.5 million, EPS 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31, 2021 % Change Net revenue $ 251,270 $ 252,304 (0.4) % Net (loss) income $ (54) $ 17,639 N/A Adjusted EBITDA $ 42,717 $ 43,241 (1.2) % Basic (loss) income per share $ (0.00) $ 0.86 N/A Diluted (loss) income per share $ (0.00) $ 0.84 N/A","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001058623-23-000009","anchor_url":"https://secwatch.observer/filing/0001058623-23-000009#claim-682145366899a99356075feaa833a7b5588044e7","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/0001058623-23-000009-index.htm"},{"fact_type":"earnings_release","fact_key":"9acf8a3532d834c66e5c4ae3526ce63d5ffef1b8","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA INC","filed_at":"2022-10-28T23:59:59+00:00","payload":{"eps_text":"Diluted income (loss) per share $ 0.81","guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$ 16,289","period_text":"the nine months ended September 30, 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Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 % Change Net revenue $ 233,463 $ 237,716 (1.8) % Net income $ 8,540 $ 27,448 (68.9) % Adjusted EBITDA (1) $ 46,567 $ 45,828 1.6 % Basic income per share $ 0.45 $ 1.34 N/A Diluted income per share $ 0.45 $ 1.32 N/A","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001058623-22-000156","anchor_url":"https://secwatch.observer/filing/0001058623-22-000156#claim-bc0edad80c49cae8500cdb500b94cf7024e7b039","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/0001058623-22-000156-index.htm"},{"fact_type":"executive_change","fact_key":"5eec0d61bc","cik":1058623,"ticker":"CMLS","company_name":"CUMULUS MEDIA 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