Cumulus Media Reports 12 Percent Drop In Revenue

Cumulus Media Inc. today reported first-quarter net revenue of $164.4 million, down 12.2% from the same period last year, along with a net loss of $16.9 million and Adjusted EBITDA of $2.7 million.

The company said the results come as it advances through a prepackaged Chapter 11 reorganization. On April 15, the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s Modified Joint Prepackaged Chapter 11 Plan of Reorganization. 

Cumulus expects the plan to become effective once it receives FCC approval and satisfies other remaining conditions.

For the three months ended March 31, 2026, the Company reported net revenue of $164.4 million, a decrease of 12.2% from the three months ended March 31, 2025, net loss of $16.9 million and Adjusted EBITDA of $2.7 million.

"We are pleased to report first quarter earnings," said Mary G. Berner, President and Chief Executive Officer. "The Court’s recent approval of our reorganization plan marks a pivotal milestone in strengthening our financial foundation and positioning the Company to compete in the evolving media landscape. While we await FCC approval of the plan, we remain focused on leveraging our core strengths to drive long-term value creation."