Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 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 000-24525 Cumulus Media Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-5134717 (State or Other Jurisd ...

Cumulus Media Inc. (NASDAQ:CMLS) Q1 2020 Results Earnings Conference Call May 11, 2020 4:30 PM ET Company Participants Collin Jones - SVP of Corporate Development & Strategy Mary Berner - President and CEO Frank Lopez-Balboa - EVP & Chief Financial Officer Conference Call Participants John Janedis - Wolfe Research Michael Kupinski - Noble Capital Markets, Inc. Zack Silver - B. Riley FBR, Inc. Operator Welcome to the Cumulus Media Quarterly Earnings Conference Call. I’ll now turn it over to Collin Jones, Sen ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 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 000-24525 Cumulus Media Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-5134717 (State or Other Juris ...

Cumulus Media Inc. (NASDAQ:CMLS) Q4 2019 Results Earnings Conference Call February 21, 2020 8:30 AM ET Company Participants Collin Jones - SVP of Corporate Development & Strategy Mary Berner - President and CEO John Abbot - CFO Conference Call Participants Zach Silver - B. Riley FBR Operator Welcome to the Cumulus Media quarterly Earnings Conference Call. I will now turn it over to Collin Jones, Senior Vice President of Corporate Development and Strategy. Sir, you may proceed. Collin Jones Thank you, operat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ¨ 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 00-24525 Cumulus Media Inc. (Exact name of registrant as specified in its charter) Delaware 82-5134717 (State of Incorporation)(I.R.S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 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 000-24525 Cumulus Media Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-5134717 (State or Other J ...

Cumulus Media Inc. (NASDAQ:CMLS) Q3 2019 Earnings Conference Call November 11, 2019 4:30 PM ET Company Participants Collin Jones - SVP of Corporate Development & Strategy Mary Berner - President and CEO John Abbot - CFO Conference Call Participants Marci Ryvicker - Wolfe Research Zach Silver - B. Riley FBR Michael Kupinski - Noble Capital Markets Operator Welcome to the Cumulus Media quarterly Earnings Conference Call. I'll now turn it over to Collin Jones, Senior Vice President of Corporate Development and ...

Cumulus Media Inc. (NASDAQ:CMLS) Q2 2019 Results Conference Call August 8, 2019 8:30 AM ET Company Participants Collin Jones - SVP of Corporate Development and Strategy Mary Berner - President and CEO John Abbot - CFO Conference Call Participants Marci Ryvicker - Wolfe Research Michael Kupinski - NOBLE Capital Markets Zack Silver - B. Riley FBR Aaron Watts - Deutsche Bank Operator Welcome to the Cumulus Media Quarterly Earnings Conference Call. I'll now turn it over to Mr. Collin Jones, Senior Vice Presiden ...

Financial Performance - Net revenue for the Successor Company for the three months ended June 30, 2019 was $279.7 million, a decrease of 2.0% compared to $285.2 million for the combined period in 2018[163]. - Operating income for the Successor Company was $81.1 million, representing a significant increase of 92.3% compared to $42.2 million in the combined period of 2018[163]. - Net income for the Successor Company was $42.9 million, down 93.9% from $706.1 million in the combined period of 2018, primarily due to reorganization items[163]. - Adjusted EBITDA for the three months ended June 30, 2019 was $61.8 million, a decrease of 6.8% from $66.4 million in the previous year[163]. - Adjusted EBITDA for the consolidated entity for the six months ended June 30, 2019, was $103,623, reflecting a decrease of 2.8% from the previous year[208]. - The overall consolidated net revenue for the six months ended June 30, 2019, was $547,169, down from $548,928 in the same period of 2018[207]. Revenue Sources - The company experienced a decrease in local broadcast advertising revenue, which contributed to the decline in net revenue[166]. - Digital revenue increased, partially offsetting the losses from local broadcast advertising revenue[166]. - The Cumulus Radio Station Group generated net revenue of $193,162 thousand, representing 69.1% of total revenue, with a decline of 5.1% year-over-year[201]. - Westwood One's net revenue for the six months ended June 30, 2019, was $186,123, an increase of 5.7% compared to the same period in 2018[205]. - The company noted that the increase in revenue at Westwood One was primarily driven by higher broadcast and digital revenue[201]. Costs and Expenses - Content costs increased to $93.8 million for the three months ended June 30, 2019, up 4.3% from $90.0 million in the previous year[163]. - Corporate expenses, including stock-based compensation and restructuring costs, increased by 34.9% to $22.7 million[163]. - Interest expense for the three months ended June 30, 2019 was $21.2 million, reflecting a significant increase compared to the previous year[163]. - Selling, general and administrative expenses for the Successor Company for the three months ended June 30, 2019 decreased primarily due to a reduction in bad debt expense, with a recognized bad debt expense of $4.1 million in the previous period[169]. - Content costs for the Successor Company for the six months ended June 30, 2019 increased due to higher digital costs associated with increased digital revenue[185]. - Corporate expenses for the Successor Company for the six months ended June 30, 2019 increased primarily due to higher restructuring costs related to station disposal and swap transactions[189]. Taxation - Income tax expense for the Successor Company for the three months ended June 30, 2019 was $17.0 million on pre-tax book income of $59.9 million, resulting in an effective tax rate of approximately 28.3%[177]. - The effective tax rate for the Successor Company for the six months ended June 30, 2019 was approximately 27.9%, influenced by state and local income taxes and non-deductible expenses[194]. Cash Flow and Debt Management - Cash generated from operating activities for the Successor Company was $49.0 million for the six months ended June 30, 2019, compared to $29.1 million for the Predecessor Company during the same period in 2018[220]. - The total principal of long-term debt was reduced from $1,300 million at emergence to $1,104 million as of June 30, 2019, reflecting effective debt management strategies[220]. - Net cash provided by investing activities for the Successor Company was $92,804, primarily due to proceeds from the EMF Sale[228]. - Net cash used in financing activities included $500 million from the issuance of 6.75% Senior Notes, which contributed to repaying $639.2 million of debt under the Term Loan[230]. - As of June 30, 2019, $603.7 million of long-term debt bore interest at a variable rate, indicating exposure to interest rate fluctuations that could impact earnings[233]. Asset Management - The Gain on sale or disposal of assets for the Successor Company for the three months ended June 30, 2019 was $47.8 million, which included a $47.6 million gain on the EMF Sale[173]. - The company experienced a loss on the sale or disposal of assets amounting to $47,724, indicating challenges in asset management[216]. - Restructuring costs totaled $15,801, reflecting ongoing efforts to optimize operational efficiency[216].

Cumulus Media Inc. (NASDAQ:CMLS) Q1 2019 Earnings Conference Call May 9, 2019 4:30 PM ET Company Participants Collin Jones - SVP of Corporate Development and Strategy Mary Berner - President and CEO John Abbot - CFO Conference Call Participants Zack Silver - B. Riley FBR Marci Ryvicker - Wolfe Research. Michael Kupinski - Noble Financial Operator Hello, and welcome to the Cumulus Media, Quarterly Earnings Conference Call. [Operator Instructions] I'll now turn it over to Collin Jones, Senior Vice President o ...