secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2025-02-27T23:59:59+00:00
Accession:  0001058623-25-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media reports FY2024 net loss of $283M, revenue down 2.1% to $827M
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- Net loss of $283.3M ($16.79/share) vs $117.9M in 2023; includes $224.5M non-cash impairment.
- Revenue declined 2.1% to $827.1M; broadcast radio spot revenue fell 5.6% to $388.8M.
- Digital revenue grew 5.3% to $154.2M; digital marketing services up 27%; streaming impressions up 15%.
- Adjusted EBITDA fell 8.8% to $82.7M; executed $43M in annualized fixed cost reductions.
- Total debt $671.6M, net debt $578.3M; cash $63.8M plus undrawn $125M ABL facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862325000030/0001058623-25-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862325000030/cmls-20250227.htm
  HTML page:      https://secwatch.observer/filing/0001058623-25-000030

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