secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001058623-23-000009
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media reports 2022 revenue up 4% to $953.5M, Adjusted EBITDA up 23% to $166.0M
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- Full-year net revenue $953.5M (+4% YoY); digital revenue $142M+ (+12%).
- Net income $16.2M (-6% YoY) includes $15.5M non-cash FCC impairment charge.
- Adjusted EBITDA $166.0M (+23% YoY); margin improved ~270 bps.
- Q4 net revenue $251.3M (-0.4% YoY); net loss $0.1M; Adjusted EBITDA $42.7M (-1.2%).
- Reduced gross debt by $86.5M; net leverage improved from 4.7x to 3.7x; completed $31.8M in share repurchases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/0001058623-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/cmls-20230223.htm
  HTML page:      https://secwatch.observer/filing/0001058623-23-000009

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