• Westwood One to Offer Football Fans Prime Time Action, With Expanded Pregame Shows for Monday Night Football, Weekday Specialty Programs, and More • New Westwood One Sports Brand Site and App Make Accessing the Best in NFL Audio Coverage Easier This Season NEW YORK, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s Westwood One (OTCQB: CMLS), the largest audio network in the U.S. and the official network audio broadcast partner of the NFL, announces its 2025 NFL Season programming lineup, as it celebra ...

Financial Data and Key Metrics Changes - Total revenue declined by 9.2%, slightly better than previous guidance, with a 5% decline excluding political impacts and comparisons to the Daily Wire and Dan Bongino [4][19] - EBITDA for the quarter was $22.4 million, with net income down approximately 20% [19][21] - Digital revenue increased by 20% year-over-year, with the Digital Marketing Services (DMS) business growing by 38% [19][10] Business Line Data and Key Metrics Changes - The DMS business now represents roughly 50% of total digital revenue, reflecting strong growth and performance [19] - Local digital marketing services business outperformed, growing at a rate nearly double that of radio peers and more than four times the expected growth rate of the digital ad market [8][10] - Broadcast advertising faced headwinds, particularly among national advertisers, with network revenue down 20% due to various factors including comparison issues and reduced inventory [12][21] Market Data and Key Metrics Changes - The overall market environment continued to pressure national spot and network revenue channels, with local spot showing slight improvement compared to national [11][32] - Key performing categories in spot included travel and financial, while pharma and insurance led in network [21] Company Strategy and Development Direction - The company is focusing on digital growth areas while continuing to reduce fixed costs, having achieved $175 million in fixed cost reductions over the past five years [5][15] - There is an emphasis on leveraging AI for business efficiencies and growth opportunities across all functions [5][16] - The company aims to surpass a $100 million run rate in DMS early next year, with increasing contribution margins expected [9] Management's Comments on Operating Environment and Future Outlook - Management noted that macro pressures are expected to persist in the short term, but they believe the company will continue to outperform peers in controllable areas [4][17] - The company ended the quarter with $97 million in cash, including a $55 million draw on its ABL revolver, providing significant flexibility [5][17] - Management expressed confidence in the core assets of the company and its ability to drive new areas of growth despite high leverage and market challenges [18] Other Important Information - The company has seen a positive culture survey with high employee engagement scores, indicating strong internal morale [18] - Non-core asset sales are expected to generate nearly $14 million by the end of the year [22] Q&A Session Summary Question: Is there an expectation for improvement in national advertising pacing? - Management indicated that while a lower interest rate environment should generally benefit advertising channels, there has not been a significant improvement in pacing at this time [25][26] Question: What is the impact of declining referral search engine traffic on digital marketing services? - Management noted that referral search is a small part of their digital business and they are not heavily dependent on it, focusing instead on geo-targeting and other strategies [28][29] Question: Are there any advertising categories showing signs of stabilization? - Management highlighted that professional services, home products, automotive, financial, and entertainment are key categories, with slight improvements in local spot versus national [31][32]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38108 Cumulus Media Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-5134717 (State or ...

Cumulus Media Reports Operating Results for the Second Quarter 2025 ATLANTA, GA — August 7, 2025: Cumulus Media Inc. (OTCQB: CMLS) (the "Company," "Cumulus Media," "we," "us," or "our") today announced operating results for the three and six months ended June 30, 2025. Mary G. Berner, President and Chief Executive Officer of Cumulus Media, said, "While the advertising backdrop for legacy media remains challenging, in the quarter we continued to outperform our radio peers, gaining market share across all bro ...

Core Insights - Cumulus Media reported a challenging advertising environment for legacy media but managed to outperform radio peers, gaining market share across all broadcast spot revenue channels and achieving a 38% year-over-year increase in digital marketing services [2][4][7] - The company executed $5 million in annualized cost reductions, totaling $175 million over the last five years, indicating a disciplined focus on optimizing performance despite capital constraints [2][4][7] - The financial results for Q2 2025 showed a net revenue of $186.0 million, a decrease of 9.2% year-over-year, with a net loss of $12.8 million, which is an improvement from a net loss of $27.7 million in Q2 2024 [4][6][7] Financial Performance - For the three months ended June 30, 2025, Cumulus Media reported net revenue of $186.0 million, down 9.2% from $204.8 million in the same period of 2024, with an Adjusted EBITDA of $22.4 million, a decrease of 11.3% year-over-year [4][6][9] - For the six months ended June 30, 2025, net revenue was $373.4 million, a decline of 7.8% from $404.9 million in the same period of 2024, with an Adjusted EBITDA of $25.9 million, down 23.0% year-over-year [5][8][28] - Digital revenue for Q2 2025 was $38.8 million, a decrease of 1.4% year-over-year, but a 20% increase when excluding the impact from discontinued relationships [7][9] Revenue Breakdown - In Q2 2025, total broadcast radio revenue was $118.4 million, down 13.0% from $136.1 million in Q2 2024, with spot revenue decreasing by 10.5% and network revenue decreasing by 20.5% [9][28] - For the six months ended June 30, 2025, total broadcast radio revenue was $243.3 million, a decline of 11.8% from $275.8 million in the same period of 2024 [8][28] Balance Sheet and Debt - As of June 30, 2025, Cumulus Media had cash and cash equivalents of $96.7 million, reflecting a $55.0 million draw on the revolving credit facility, with total debt reported at $723.7 million [7][10][28] - The company reported net debt less total unamortized discount of $600.4 million, indicating a focus on managing leverage and evaluating the balance sheet [7][28]

Core Insights - Rumble and Cumulus Media have formed a strategic partnership to enhance content distribution and advertising opportunities in the evolving media landscape [1][2][3] Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider focused on empowering creators and brands, aiming to restore the internet to its roots by making it free and open [4] - Cumulus Media is an audio-first media company that reaches a quarter billion people monthly through 400 radio stations and the Cumulus Podcast Network, providing a wide range of premium content [5] Partnership Details - The collaboration will leverage both companies' assets to create unique multi-platform advertising solutions, maximizing opportunities for brand partners [2][3] - Westwood One, a subsidiary of Cumulus Media, will distribute audio and video content on Rumble's platform, enhancing the reach of both companies [2][3] Strategic Goals - The partnership aims to create new monetization opportunities for creators while providing brands with effective ways to connect with engaged audiences [3] - The alignment between Rumble and Cumulus Media is positioned as a new frontier for host-read advertising, emphasizing authenticity, scale, and brand safety [3]

Core Insights - Cumulus Media and Rumble have formed a strategic partnership aimed at enhancing opportunities in the evolving podcasting and video landscape [1][2] - The collaboration focuses on maximizing advertising opportunities and creating unique multi-platform solutions for brand partners [2][3] Company Overview - Cumulus Media is an audio-first media company reaching a quarter billion people monthly through 400 radio stations and the Westwood One network, which is the largest audio network in America [5] - Rumble is a high-growth video platform and cloud services provider, aiming to restore the internet to its roots by promoting a free and open environment [4] Partnership Details - The partnership will allow Westwood One to distribute audio and video content on Rumble's platform, enhancing content distribution for both companies [2] - The collaboration aims to create new monetization opportunities for creators while providing brands with effective ways to connect with engaged audiences [3]

Cumulus Podcast Network Welcomes Award-Winning Hosts George Dunham, Craig Miller, and Gordon Keith The Musers: The Podcast Offers Fans Fresh Banter and Offbeat Humor Beyond the Airwaves NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- Cumulus Media (OTCQB: CMLS) today announced thatThe Musers: The Podcast has joined the Cumulus Podcast Network. The Musers, featuring hosts George Dunham, Craig Miller, and Gordon Keith, is the longest-running morning show (with the same crew) in Dallas- Fort Worth radio history. T ...

Core Viewpoint - Cumulus Media Inc. will host a conference call on August 7, 2025, to discuss its second quarter 2025 operating results, with a press release summarizing these results to be issued beforehand [1]. Group 1: Conference Call Details - The conference call is scheduled for Thursday, August 7th at 8:30 AM ET [1]. - Participants must register in advance to join the call, with a one-time email verification required [2]. - The call will be available in listen-only mode on the company's investor relations website, and a recording will be accessible shortly after the call [3]. Group 2: Dial-in Information - Domestic callers can join the call by dialing 833-470-1428, while international callers should dial 404-975-4839, using the participant access code 033528 [4]. Group 3: Company Overview - Cumulus Media is an audio-first media company reaching a quarter billion people monthly through 400 radio stations across 84 markets [5]. - The company offers nationally-syndicated programming from major brands and operates the Cumulus Podcast Network, providing original podcasts [5]. - Cumulus Media delivers advertising solutions through various platforms, including digital, mobile, and live events, enhancing local impact and national reach [5].

Group 1 - Cumulus Media's Westwood One is the official audio broadcast partner for the NCAA Men's College World Series, providing coverage of the Championship Finals live from Omaha, Nebraska [1] - The Championship series will begin on June 21, 2025, with a best-of-three format [7] - Coverage will be available on terrestrial radio, SiriusXM, and streamed online for free at NCAA.com/MCWS and westwoodonesports.com [4] Group 2 - The broadcast team includes Kevin Kugler, Scott Graham, and field reporter Connor Happer for the Championship series [2] - Preliminary games will be conducted in a double elimination format, leading to the Championship Finals [3] - A complete schedule of the 2025 NCAA Men's College World Series is provided, detailing game times and matchups [5][6] Group 3 - Westwood One Sports is known for its extensive sports broadcasts, including partnerships with the NFL and NCAA [9] - Cumulus Media operates over 400 radio stations and delivers content to over a quarter billion people monthly [10] - The NCAA supports over 1,100 member colleges and universities, providing opportunities for nearly half a million student-athletes [11]