secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0001058623-22-000156
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media Q3 revenue down 1.8% to $233.5M; net income $8.5M vs $27.4M (prior year included $20.8M land sale gain)
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- Revenue $233.5M (-1.8% YoY); net income $8.5M (down 68.9%, but prior year had $20.8M land sale gain).
- Adjusted EBITDA $46.6M (+1.6% YoY) as cost reductions offset revenue decline.
- Digital revenue grew 5%, led by digital marketing services +12% and streaming +11%.
- Reduced net leverage from 4.7x to 3.7x; repurchased 415K shares for $3.9M at avg $9.43.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/0001058623-22-000156-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/cmls-20221028.htm
  HTML page:      https://secwatch.observer/filing/0001058623-22-000156

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer