---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-24-000026"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2024-02-27T23:59:59+00:00"
generated_at: "2026-06-05T10:27:35.540991+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media reports FY2023 net loss of $117.9M, revenue down 11.4%; launches debt exchange

## Summary
- Net revenue $844.5M (-11.4% YoY); net loss $117.9M vs net income $16.2M; diluted EPS loss $6.83.
- Adjusted EBITDA $90.7M (-45.3% YoY); digital revenue $146.4M (+2.9%).
- Q4 net revenue $221.3M (-11.9% YoY); net loss $98.1M; adjusted EBITDA $22.8M (-46.6%).
- Launches exchange of 6.750% notes due 2026 for 8.750% notes due 2029; term loan exchange.
- Retired $43.6M debt at 77.4% of par; total debt retired $130.2M since start of 2022.

## SEC filing metadata
- accession: 0001058623-24-000026
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2024-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/0001058623-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/cmls-20240227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-24-000026
- JSON: https://secwatch.observer/filing/0001058623-24-000026.json
- Plain text: https://secwatch.observer/filing/0001058623-24-000026.txt

## Key facts
- Earnings Releases
  CUMULUS MEDIA INC reported the year ended December 31, 2023 results: revenue $ 844,548, net income $ (117,879), EPS $ (6.83).
  - Period: the year ended December 31, 2023
  - Revenue: $ 844,548
  - Net income: $ (117,879)
  - EPS: $ (6.83)
  - Result: reported results
  source text: Net revenue $ 844,548 $ 953,506 (11.4) % Net (loss) income $ (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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/0001058623-24-000026-index.htm
- Earnings Releases
  CUMULUS MEDIA INC reported the three months ended December 31, 2023 results: revenue $ 221,301, net income $ (98,066), EPS $ (5.94).
  - Period: the three months ended December 31, 2023
  - Revenue: $ 221,301
  - Net income: $ (98,066)
  - EPS: $ (5.94)
  - Result: reported results
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862324000026/0001058623-24-000026-index.htm

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