Cumulus Media INC

Market Movers (8-K)

Cumulus Media reported a 12.2% decrease in net revenue for Q1 2026, alongside a narrowed net loss and a decline in Adjusted EBITDA, as the company navigates its Chapter 11 reorganization.
Worse than expected
Cumulus Media Inc. has received court approval for its Chapter 11 reorganization plan, aiming to eliminate $600 million in debt and transition to a private company.
Capital raise
Cumulus Media announced 2025 operating results, showing decreased revenue and net loss, alongside a recently filed prepackaged Chapter 11 reorganization.
Worse than expected
Cumulus Media Inc. has filed for Chapter 11 bankruptcy with a prepackaged plan to reduce its debt by over $592 million and cut annual cash interest expense by $49 million.
Delay expected
Capital raise
Cumulus Media announced the appointment of Carol Flaton to its Board of Directors, effective January 15, 2026, following Joan Hogan Gillman's resignation.
Cumulus Media reported a wider net loss and revenue decline in Q3 2025, despite digital marketing services growth and cost reductions.
Worse than expected

Quarterly Earnings (10-Q)

Cumulus Media Inc. reports Q1 2026 results, detailing progress in its Chapter 11 restructuring, with a net loss of $16.9 million and significant reorganization items.
Capital raise
Worse than expected
Cumulus Media Inc. reported a significant increase in net loss and a decline in net revenue for the third quarter and first nine months of 2025, primarily due to challenging macroeconomic conditions impacting broadcast advertising.
Worse than expected
Capital raise
Cumulus Media Inc. reported a 9.2% decrease in net revenue for Q2 2025, alongside continued net losses and a transition of its Class A common stock to the OTCQB market.
Worse than expected
Capital raise
Cumulus Media's Q1 2025 results reveal a revenue decrease and a net loss increase, alongside the announcement of its transition to the OTC Markets.
Worse than expected
Cumulus Media's Q3 2024 results show a decrease in revenue and a net loss, impacted by macroeconomic conditions and debt restructuring activities.
Worse than expected
Cumulus Media's Q2 2024 results show a decrease in revenue and a net loss, alongside significant debt restructuring activities.
Worse than expected

Annual Reports (10-K)

Cumulus Media Inc. has filed its 2025 Form 10-K, detailing significant financial restructuring through Chapter 11 bankruptcy proceedings initiated in March 2026.
Worse than expected
Cumulus Media's 2024 results reveal a slight revenue decrease, driven by macroeconomic conditions and strategic platform adjustments, alongside significant non-cash impairment charges.
Worse than expected
Cumulus Media's 10-K filing outlines its capital structure, the adoption of a stockholder rights plan, and provides a detailed look at its financial performance for 2023.
Worse than expected

Insider Trading (Form 4)

Francisco Lopez-Balboa, a Cumulus Media executive, reports the acquisition and disposal of Class A Common Stock related to vested performance-based restricted stock units.
Collin R. Jones, an executive at Cumulus Media, reported the acquisition and disposal of Class A Common Stock due to vesting of performance-based restricted stock units.
Mary Berner, President & CEO of Cumulus Media Inc., reports acquisition and disposal of Class A Common Stock related to vesting of performance-based restricted stock units.
Richard Denning, EVP, General Counsel & Secretary of Cumulus Media, reports the acquisition and disposal of Class A Common Stock due to vesting of performance-based restricted stock units.
David Edward Milner, President of Operations at Cumulus Media, reports acquisition and disposal of Class A Common Stock related to vesting of performance-based restricted stock units.
Robert J. Walker, President Operations at Cumulus Media Inc., reports acquisition of shares through vesting of restricted stock units and subsequent disposal to cover tax obligations.

Proxy Statements (Def-14A)

Cumulus Media's proxy statement details the upcoming annual meeting, executive compensation adjustments, and governance changes implemented in response to stockholder input.
Worse than expected
Cumulus Media Inc. will hold its 2024 Annual Meeting of Stockholders virtually on May 2, 2024, to vote on director elections, executive compensation, and the ratification of its accounting firm.

Schedule 13D - Activist Investments

Renew Group Private Ltd has fully divested its holdings in Cumulus Media Inc, reporting zero beneficial ownership as of April 25, 2025, through a series of open market sales.
Worse than expected
Renew Group Private Ltd has filed an Amendment No. 3 to its Schedule 13D, reporting a 6.15% beneficial ownership in Cumulus Media Inc. and disclosing recent sales of Class A Common Stock.
Worse than expected
Renew Group Private Ltd. has filed an amended Schedule 13D, disclosing a reduction in its beneficial ownership of Cumulus Media Inc. Class A Common Stock to 7.2% through recent open market sales.
Worse than expected
Renew Group Private Ltd. has filed an amended Schedule 13D, revealing an 8.28% beneficial ownership in Cumulus Media Inc. and stating its intent to monitor the company's performance and corporate governance, while also disclosing recent share sales.
Worse than expected

Schedule 13G - Passive Investments

Barclays PLC has reported a 5.23% beneficial ownership stake in Cumulus Media Inc.'s Class A common stock, held for ordinary business purposes.
Seaport Global Asset Management LLC reported a 1.8% beneficial ownership stake in Cumulus Media Inc.'s Class A Common Stock as of September 30, 2025.
Zazove Associates LLC, Zazove Associates, Inc., and Gene T. Pretti collectively reported a 12.17% passive beneficial ownership stake in Cumulus Media Inc. as of December 31, 2024.