Investor Information

A leader in the radio broadcasting industry, Cumulus Media (PINK: CMLSQ) combines high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands to deliver premium content choices to the 245 million people reached each week through its 445 owned-and-operated stations broadcasting in 90 US media markets (including eight of the top 10), approximately 8,000 broadcast radio stations affiliated with its Westwood One network and numerous digital channels. Together, the Cumulus/Westwood One platforms make Cumulus Media one of the few media companies that can provide advertisers with national reach and local impact. Cumulus/Westwood One is the exclusive radio broadcast partner to some of the largest brands in sports, entertainment, news, and talk, including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYs, the Academy of Country Music Awards, the American Music Awards, the Billboard Music Awards, and more. Additionally, it is the nation’s leading provider of country music and lifestyle content through its NASH brand, which serves country fans nationwide through radio programming, exclusive digital content, and live events. For more information, visit www.cumulus.com.

Cumulus Reports Operating Results for Fourth Quarter and Full Year 2017

ATLANTA, GA — March 28, 2018: Cumulus Media Inc. (PINK: CMLSQ) (the “Company,” “we,” “us,” or “our”) today announced operating results for the three months and year ended December 31, 2017.

For the three months ended December 31, 2017, the Company reported net revenue of $293.9 million, down 1.9% from the three months ended December 31, 2016, net loss of $206.1 million and Adjusted EBITDA of $49.9 million, down 12.3% from the quarter ended December 31, 2016. For the year ended December 31, 2017, the Company reported net revenue of $1,135.7 million, a decrease of 0.5% from the year ended December 31, 2016, net loss of $206.6 million and Adjusted EBITDA of $217.8 million, up 5.8% from the year ended December 31, 2016. During the fourth quarter of 2017, the Company recorded a noncash impairment charge against FCC licenses of $335.9 million. During the fourth quarter of 2016, the Company recorded noncash impairment charges against FCC licenses and goodwill of $603.1 million.

On November 29, 2017, the Company and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (the “Chapter 11 Filings”). The Chapter 11 Filings are being jointly administered under the caption In re Cumulus Media Inc., et al, Case No. 17-13381.

Mary Berner, President and Chief Executive Officer of Cumulus Media Inc. said, “Our 2017 financial performance is a true testament to our employees’ hard work and commitment to our turnaround plan. Having also made the decision to definitively address our overleveraged balance sheet, we look forward to completing our financial restructuring and continuing our progress in the months ahead.”

Click to download the entire Press Release.

RSS Feed (To use RSS, you must have an RSS-reader program installed, such as RSS Owl)

SEC Filings

03/28/18 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2017
11/29/17 – Cumulus Enters Restructuring Support Agreement to Reduce Debt by Over $1 Billion
11/09/17 – 2017 Third Quarter Earnings Call Presentation
11/09/17 – Cumulus Reports Operating Results for Third Quarter 2017
10/26/17 – Cumulus Announces Selected Preliminary Operating Results for Third Quarter 2017
08/14/17 – Cumulus Reports Operating Results for Second Quarter 2017 Presentation
08/14/17 – Cumulus Reports Operating Results for Second Quarter 2017
07/31/17 – Cumulus Media Inc. Announces Conference Call To Discuss Second Quarter 2017 Operating Results
05/15/17 – 2017 First Quarter Earnings Call Presentation
05/15/17 – Cumulus Reports Operating Results for First Quarter 2017
05/05/17 – Cumulus Media Inc. Announces Conference Call To Discuss First Quarter 2017 Operating Results
03/16/17 – 2016 Fourth Quarter & Full Year Earnings Call Presentation
03/16/17 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2016
03/10/17 – Cumulus Announces Termination of Private Exchange Offer
03/08/17 – Cumulus Media Inc. Announces Conference Call To Discuss Fourth Quarter and Full Year 2016 Operating Results
02/15/17 – Cumulus Announces Extended Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
01/11/17 – Cumulus Announces Extended Expiration Date and Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
12/30/16 – Cumulus Media Inc. Announces Discounted Prepayment of a Portion of Senior Secured Term Loan Facility
12/27/16 – Cumulus Announces Extension of Early Tender Date for its Previously Announced Private Exchange Offer for 7.75% Senior Notes due 2019
12/12/16 – Cumulus Announces Launch of Private Exchange Offer for 7.75% Senior Notes due 2019; Majority of Holders Have Agreed to Participate
12/07/16 – Cumulus Announces Entry into Refinancing Support Agreement with Holders of 7.75% Senior Notes due 2019
11/08/16 – 2016 Third Quarter Earnings Call Presentation
11/08/16 – Cumulus Reports Operating Results for Third Quarter 2016
10/24/16 – Cumulus Media Inc. Announces Conference Call To Discuss Third Quarter 2016 Operating Results
10/12/16 – Cumulus Announces Reverse Stock Split
08/04/16 – 2016 Second Quarter Earnings Call Presentation
08/04/16 – Cumulus Reports Operating Results for Second Quarter 2016
07/28/16 – Cumulus Media Inc. Announces Conference Call To Discuss Second Quarter 2016 Operating Results
06/22/16 – Cumulus Media Appoints John Abbot As Chief Financial Officer
05/05/16 – Cumulus Reports Operating Results for First Quarter 2016
05/05/16 – 2016 First Quarter Earnings Call Presentation
04/22/16 – Cumulus Media Inc. Announces Conference Call To Discuss First Quarter 2016 Operating Results
03/10/16 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2015
03/10/16 – 2015 Fourth Quarter & Full Year Earnings Call Presentation
2/23/16 – Cumulus Media Inc. Announces Conference Call To Discuss Fourth Quarter and Full Year 2015 Operating Results
12/31/15 – Cumulus Media Inc. Announces Discounted Prepayment of a Portion of Senior Secured Term Loan Facility
11/05/15 – Cumulus Reports Operating Results for Third Quarter 2015
09/29/15 – Cumulus Media Appoints Mary G. Berner Chief Executive Officer
07/30/15 – Cumulus Reports Operating Results for Second Quarter 2015
04/30/15 – Cumulus Reports Operating Results for First Quarter 2015
03/02/15 – Cumulus Reports Operating Results for Fourth Quarter and Full Year 2014
11/10/14 – Cumulus Reports Operating Results for Third Quarter 2014
08/06/14 – Cumulus Reports Operating Results for Second Quarter 2014
04/29/14 – Cumulus Reports Operating Results for First Quarter 2014