---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-23-000089"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T06:39:41.884969+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media Q3 revenue down 11% to $207.4M; net income $2.7M vs $8.5M YoY

## Summary
- Net revenue $207.4M, down 11.2% YoY; net income $2.7M vs $8.5M in Q3 2022.
- Adjusted EBITDA $26.9M, down 42.2% from $46.6M; digital revenue up 7% to $37.2M.
- Broadcast radio revenue fell 17.4% to $146.3M; spot down 15.2%, network down 22.8%.
- Retired $5.2M face value of term loans at avg 83.5% of par; sold WDRQ-FM for $10M.
- Total debt $675.8M, net debt $592.9M; capital expenditures $7.1M in quarter.

## SEC filing metadata
- accession: 0001058623-23-000089
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000089/0001058623-23-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000089/cmls-20231027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-23-000089
- JSON: https://secwatch.observer/filing/0001058623-23-000089.json
- Plain text: https://secwatch.observer/filing/0001058623-23-000089.txt

## Key facts
- Earnings Releases
  CUMULUS MEDIA INC reported three and nine months ended September 30, 2023 results: revenue $207.4 million, net income $2.7 million, EPS $0.16.
  - Period: three and nine months ended September 30, 2023
  - Revenue: $207.4 million
  - Net income: $2.7 million
  - EPS: $0.16
  - Result: reported results
  source text: a robust political spending cycle, gives us cautious optimism that we may be seeing the early signs of a market recovery.” Q3 Performance Summary: • Posted total net revenue of $207.4 million, a decline of 11% year-over-year • Generated digital revenue of $37.2 million, an increase of 7% year-over-year – representing 18% of total revenue, with growth across streaming,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000089/0001058623-23-000089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.