Highest-materiality recent filing
Cumulus Media Q1 net loss narrows to $16.9M; court approves reorganization plan
Net loss of $16.9M improved 47.9% YoY from $32.4M; diluted EPS loss $0.96 vs $1.88.
Cumulus Media's Chapter 11 plan confirmed; eliminates ~$600M debt, existing equity cancelled
Bankruptcy Court confirmed Plan of Reorganization on April 15, 2026; FCC approval required before emergence.
Cumulus Media Q4 net loss $135M; revenue down 14%; full-year adjusted EBITDA $52M
Q4 net revenue $188.1M, down 14% YoY; net loss $135.1M vs $231.1M loss last year.
Cumulus Media files prepackaged Ch.11; $592M debt equitized; equity cancelled for no recovery
Prepackaged Chapter 11 filed March 4; Plan equitizes ~$592M debt, cutting annual cash interest ~$49M.
Cumulus Media Q3 net revenue down 11.5% to $180.3M; net loss widens to $20.4M
Net revenue $180.3M (-11.5% YoY); net loss $20.4M vs $10.3M loss; Adj. EBITDA $16.7M (-30.8%).
Cumulus Media Q2 net revenue $186M, down 9.2% YoY; net loss narrows to $12.8M from $27.7M
Digital marketing services revenue grew 38% YoY, now ~50% of total digital revenue of $38.8M.
Cumulus Media Q1 net loss widens to $32.4M; revenue down 6.4% YoY
Net loss $32.4M ($1.88 diluted EPS) vs $14.2M loss in Q1 2024.
Cumulus Media (CMLS) to be delisted from Nasdaq; will begin trading on OTCQB effective May 2, 2025
Nasdaq determined to delist CMLS due to noncompliance with Listing Rules 5450(a)(2) and 5450(b)(1)(A).
Cumulus Media warned by NASDAQ for equity shortfall; must submit compliance plan
Stockholders' equity of $6.951M as of Dec 31, 2024, below NASDAQ's $10M minimum for Global Market.
Cumulus Media reports FY2024 net loss of $283M, revenue down 2.1% to $827M
Net loss of $283.3M ($16.79/share) vs $117.9M in 2023; includes $224.5M non-cash impairment.
Cumulus Media receives NASDAQ delisting notice for bid price below $1.00
On Dec 16, 2024, NASDAQ notified Cumulus Media (CMLS) of non-compliance with bid price rule (below $1.00 for 30 consecutive days).
Cumulus Media Q3 2024: revenue down 1.8% to $203.6M, net loss of $10.3M
Revenue $203.6M (down 1.8% YoY); net loss $10.3M vs net income $2.7M in Q3 2023.
Cumulus Media Q2 net loss widens to $27.7M; revenue down 2.5% YoY
Q2 revenue $204.8M (-2.5% YoY); net loss $27.7M vs $1.1M loss in Q2 2023.
Cumulus Media Q1 revenue $200M, net loss improves; refinances debt to 2029, reduces principal $33M
Net revenue $200.1M, down 2.7% YoY; net loss $14.2M vs $21.5M loss in Q1 2023; Adjusted EBITDA $8.4M vs $10.3M.
Cumulus Media exchanges $325.7M of 6.75% notes for 8% notes due 2029; extends ABL to 2029
Issued ~$308.8M of 8.000% Senior Secured First-Lien Notes due 2029 exchanged for 6.750% notes due 2026 at 94% of par.
Net revenue expected $199M-$201M vs $205.7M in Q1 2023, a decline of 2.3%-3.3%.
Cumulus Media amends exchange offer: 6.75% notes for 8% notes due 2029, extends deadline to May 1
Issuer offers $940 principal of new 8% notes due 2029 per $1,000 of old 6.75% notes due 2026; maturity extended to July 2029.
Cumulus Media extends exchange offer for 6.75% notes to Apr 2; $15M tendered
Expiration extended from March 26 to April 2, 2024, at 5:00 p.m. NY time.
Cumulus Media reports FY2023 net loss of $117.9M, revenue down 11.4%; launches debt exchange
Net revenue $844.5M (-11.4% YoY); net loss $117.9M vs net income $16.2M; diluted EPS loss $6.83.
Exchange offer for all outstanding $346,245,000 of 6.750% Senior Secured First-Lien Notes due 2026.
Cumulus Media adopts poison pill after Renew Group accumulates 10.01%, targets 20%
Rights plan triggers at 15% beneficial ownership of Class A common stock; expires Feb 20, 2025.
Cumulus Media Q3 revenue down 11% to $207.4M; net income $2.7M vs $8.5M YoY
Net revenue $207.4M, down 11.2% YoY; net income $2.7M vs $8.5M in Q3 2022.
Cumulus Media Q2 revenue down 11% to $210.1M; net loss of $1.1M vs profit a year ago
Net revenue $210.1M, down 11.2% YoY; net loss $1.1M vs net income $8.7M in Q2 2022.
Cumulus Media Q1 net loss widens to $21.5M; revenue down 11% to $205.7M
Net loss of $21.5M vs $0.9M loss in Q1 2022; Adjusted EBITDA fell 67% to $10.3M.
Cumulus Media reports 2022 revenue up 4% to $953.5M, Adjusted EBITDA up 23% to $166.0M
Full-year net revenue $953.5M (+4% YoY); digital revenue $142M+ (+12%).
Cumulus Media Q2 revenue up 5.4% to $236.7M; net income $8.7M vs loss $5.9M YoY
Digital revenue grew 20% YoY, led by podcasting (+27%) and digital marketing (+22%).
Cumulus Media launches $25M modified Dutch auction tender offer at $14.50-$16.50/share
Offer to purchase up to $25M of Class A common stock at a price between $14.50 and $16.50 per share.
On January 22, 2025, Matthew Blank notified the Board of Directors (the “Board”) of Cumulus Media Inc. (the “Company”) that he has decided to resign from the Board to devote more time to his other commitments, effective as of January 22, 2025.
the Board, upon the recommendation of the Nominating and Governance Committee of the Board, appointed Steven M. Galbraith to serve as a director, effective January 22, 2025.
appointed Deborah A. Farrington to serve as a director, effective August 19, 2022.
Max materiality 1.00 · Median 0.65 · Most common event earnings