Financial Performance - Total net revenue for Q1 2025 was $187.3 million, a decline of 6.4% year-over-year[3] - The company recorded a net loss of $32.4 million compared to a net loss of $14.2 million in Q1 2024, reflecting a 128.7% increase in losses[5] - GAAP net loss for Q1 2025 was $32,367,000, compared to a loss of $14,154,000 in Q1 2024[24] - As reported net revenue for Q1 2025 was $187,349,000, down from $200,053,000 in Q1 2024, representing a decrease of approximately 6.8%[24] - Excluding the impact of political revenue, net revenue for Q1 2025 was $186,517,000, compared to $197,854,000 in Q1 2024, a decrease of approximately 5.7%[24] Revenue Breakdown - Digital revenue reached $36.6 million, an increase of 6.1% year-over-year, representing 20% of total revenue[3] - Podcasting revenue decreased by 13%, but increased by 39% when excluding the impact of the Daily Wire relationship[3] - Broadcast radio revenue declined by 10.6% year-over-year, totaling $124.9 million[6] - Digital marketing services grew by 30% driven by investments in sales, support, and fulfillment capabilities[2] Adjusted Metrics - Adjusted EBITDA for Q1 2025 was $3.5 million, down 58.1% from $8.4 million in Q1 2024[5] - Adjusted EBITDA for Q1 2025 was $3,519,000, significantly lower than $8,405,000 in Q1 2024, indicating a decline of about 58%[24] - Adjusted EBITDA, excluding political EBITDA, was $2,770,000 for Q1 2025, down from $6,426,000 in Q1 2024, reflecting a decline of about 56.8%[24] Debt and Cash Position - Total debt as of March 31, 2025, was $670.2 million, with net debt less total unamortized discount at $589.4 million[3] - Total debt principal, gross, as of March 31, 2025, was $670,165,000, slightly down from $675,755,000 in the previous year[24] - Net debt less total unamortized discount decreased to $589,423,000 in Q1 2025 from $607,416,000 in Q1 2024[24] - Total debt at maturity as of March 31, 2025, was $642,117,000, compared to $675,755,000 in the previous year[24] - Cash and cash equivalents at the end of Q1 2025 were $52.7 million, down from $63.8 million at the end of 2024[7] - Cash and cash equivalents decreased to $52,694,000 in Q1 2025 from $68,339,000 in Q1 2024[24] Cost Management - The company achieved annualized fixed cost reductions of $7.5 million during the quarter[3] - Political revenue impact on net revenue was a reduction of $832,000 in Q1 2025, compared to a reduction of $2,199,000 in Q1 2024[24]

Core Insights - Cumulus Media reported a net revenue of $187.3 million for Q1 2025, reflecting a 6.4% decrease compared to Q1 2024, alongside a net loss of $32.4 million, which is a significant increase in losses from $14.2 million in the previous year [4][7][25] - The company emphasized its focus on mitigating macroeconomic impacts, including a 30% growth in digital marketing services and $7.5 million in annualized cost reductions [2][4] Financial Performance - Net revenue for Q1 2025 was $187.3 million, down from $200.1 million in Q1 2024, marking a 6.4% decline [4][8] - The net loss increased to $32.4 million in Q1 2025 from $14.2 million in Q1 2024, representing a 128.7% increase in losses [4][7] - Adjusted EBITDA for the quarter was $3.5 million, down 58.1% from $8.4 million in Q1 2024 [4][7] Revenue Breakdown - Digital revenue reached $36.6 million, a 6.1% increase year-over-year, and represented 20% of total revenue [7][8] - Broadcast radio revenue decreased by 10.6%, with spot revenue at $80.9 million and network revenue at $43.9 million [8] - Podcasting revenue decreased by 13%, but increased by 39% when excluding the impact of the Daily Wire relationship [7] Cost Management - The company executed actions resulting in $7.5 million of annualized fixed cost reductions [2][7] - Total operating expenses for Q1 2025 were $202.1 million, down from $210.5 million in Q1 2024 [25] Balance Sheet and Debt - As of March 31, 2025, total debt was reported at $670.2 million, with net debt less total unamortized discount at $589.4 million [7][9] - The company ended the quarter with $52.7 million in cash [7][9]

Core Viewpoint - Cumulus Media Inc. will host a conference call on May 1, 2025, to discuss its first 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 May 1 at 8:30 AM ET, with a press release to be issued at approximately 8:00 AM ET [1]. - Participants must register in advance to join the conference call, with a one-time email address verification required [2]. - The call will be available in listen-only mode via 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 624457 if prompted [4]. Group 3: Company Overview - Cumulus Media is an audio-first media company reaching over 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, which features original podcasts [5]. - Cumulus Media provides advertisers with a combination of local impact and national reach through various platforms and services, including performance guarantees for advertising [5].

Core Points - Cumulus Media's Westwood One will provide exclusive Spanish-language audio coverage of the NCAA Men's Final Four and national championship game for the eighth consecutive year, starting on April 5, 2025 [2][8] - The broadcasts will feature veteran announcers Rafael Hernández Brito, Greivis Vásquez, and Carlos Morales, enhancing the connection with Hispanic basketball fans [3][5][6] - Werner Ladder is the presenting sponsor for the broadcasts, aiming to engage with Hispanic audiences and reinforce its brand association with NCAA basketball [4] Company Overview - Cumulus Media is an audio-first media company that reaches over a quarter billion people monthly through 400 radio stations and a large network of affiliated stations [11] - Westwood One is the exclusive broadcast partner for NCAA Championships, providing extensive coverage of NCAA basketball and other major sports events [9][10] - The NCAA comprises over 1,100 member colleges and universities, focusing on academics and athletics for nearly half a million student-athletes annually [12]

Rafael Hernández Brito, Greivis Vásquez, and Carlos Morales Call the Action Broadcasts Presented by Werner Ladder NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NSDQ: CMLS) Westwood One will provide exclusive audio coverage of the NCAA Men’s Final Four and national championship game in Spanish for the eighth consecutive tournament, presented by Werner Ladder, the official ladder of the NCAA Men’s and Women’s Basketball Championships. Westwood One’s Spanish-language broadcasts will kick off ...

Westwood One's Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium  Network's Coverage Includes the Men's Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One's Women's Final Four Coverage is Presented by Intuit TurboT ...

Westwood One’s Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium Network’s Coverage Includes the Men’s Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One’s Women’s Final Four Coverage is Presented by Intuit TurboT ...

Core Points - Westwood One, a subsidiary of Cumulus Media, will provide comprehensive coverage of the NCAA Division I Men's Basketball Championship across multiple platforms, including radio, online streaming, and mobile apps [1][2][8] - The coverage will include live Spanish-language broadcasts of the Final Four and National Championship games, marking the seventh consecutive year for such broadcasts [5][8] - A notable broadcast team will be in place, featuring Kevin Kugler, Robbie Hummel, and P.J. Carlesimo for English coverage, along with a variety of renowned commentators and analysts [3][4] Coverage Details - The NCAA tournament coverage will be available on over 500 radio stations, SiriusXM, and various online platforms, including NCAA.com and the Westwood One Sports app [1][2] - The complete schedule includes key dates such as the First Four on March 18, the Final Four on April 5, and the National Championship on April 7 [6][11] - Fans can access broadcasts through Alexa-enabled devices and TuneIn Premium, ensuring widespread availability [2][8] Broadcast Team - The English broadcast team will include Kevin Kugler, Robbie Hummel, and P.J. Carlesimo, with Andy Katz serving as a courtside reporter [3][4] - The Spanish-language broadcasts will feature Rafael Hernandez Brito as the play-by-play announcer and Greivis Vásquez as the analyst [5] Programming - Westwood One will produce hour-long college basketball programs leading up to each day's coverage, enhancing the overall viewing experience for fans [6][8] - The network's extensive sports portfolio includes partnerships with the NFL and NCAA, showcasing its strength in sports broadcasting [8][9]

Core Points - Westwood One, a subsidiary of Cumulus Media, will provide comprehensive coverage of the NCAA Division I Men's Basketball Championship across multiple platforms, including radio, online streaming, and mobile apps [1][2][8] - The coverage will include live Spanish-language broadcasts of the Final Four and National Championship games, marking the seventh consecutive year for such broadcasts [5][8] - A diverse and experienced broadcast team will be involved, featuring well-known commentators and analysts, ensuring high-quality coverage of the tournament [3][4] Company Overview - Cumulus Media operates over 400 radio stations across 84 markets and delivers content to over a quarter billion people monthly, making it a significant player in the audio media industry [9] - Westwood One is recognized as the largest audio network in the U.S., providing national sports, news, and entertainment programming, including exclusive partnerships with major sports leagues [8][9] - The NCAA, with over 1,100 member institutions, focuses on creating opportunities for student-athletes and is supported by various corporate partners, enhancing its visibility and reach [10]

Core Points - Cumulus Media's Westwood One will broadcast 19 NCAA Men's and Women's Basketball games during Conference Championship Week from March 8 to March 16, 2025 [1][2][3] Group 1: Broadcast Schedule - The postseason basketball coverage begins on March 8 with the Ohio Valley Conference Championship game and continues through Selection Sunday on March 16 [2][4] - Championship games include various conferences such as Big East, CAA, Conference USA, Patriot League, MVC, Big South, SoCon, America East, and WCC for men's games, and Big East and Ivy League for women's games [3][4] Group 2: Selection Sunday - Selection Sunday will reveal the 68-team field for both men's and women's tournaments, hosted by Jason Horowitz with analysts PJ Carlesimo and Debbie Antonelli [2][4] Group 3: Company Overview - Westwood One is the largest audio network in America and has been the exclusive network radio partner to the NFL since 1987, covering various major sports events including NCAA Basketball and The Masters [5] - Cumulus Media, the parent company, delivers content to a quarter billion people monthly through 400 radio stations and over 9,500 affiliated stations, providing a wide range of programming and advertising solutions [6]