secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001058623-23-000049
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media Q1 net loss widens to $21.5M; revenue down 11% to $205.7M
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- Net loss of $21.5M vs $0.9M loss in Q1 2022; Adjusted EBITDA fell 67% to $10.3M.
- Total net revenue $205.7M, down 11.4% YoY; broadcast radio revenue declined 12.5% and network fell 23%.
- Digital revenue rose to $32.1M (16% of total); digital marketing services grew 23% YoY.
- Completed sale of WFAS-FM for $7.3M; repurchased $1.5M in shares and retired $6.3M face debt at 90.1% of par.
- Total debt $713.1M, net debt $594.2M at lowest level in over a decade; cash from operations $23.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000049/0001058623-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000049/cmls-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001058623-23-000049

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