NEW YORK, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (OTCQB: CMLS) Westwood One today announced that The Next Role with Vernon Davis has joined the Cumulus Podcast Network. Former NFL star and Super Bowl champion turned actor and producer Vernon Davis launched The Next Role, his new podcast that focuses on career transition and reinvention. The Next Role with Vernon Davis combines cinematic storytelling with deep, thought-provoking conversations exploring the transformative journeys of athletes, arti ...

Conservative Gen Z Activist CJ Pearson to Host the Podcast Family Matters Family Matters Podcast NEW YORK, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (OTCQB: CMLS) Westwood One today announced that Family Matters has joined the Cumulus Podcast Network. Hosted by CJ Pearson, Family Matters tackles the most pressing social, cultural, and political issues in America as told from a perspective rarely heard in podcasting: conservative, culturally aware, and authentically Black. With a voice that loves ...

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 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].

Financial Performance - Q4 2024 revenue reached $1,118 million, a 4.8% increase, but excluding political revenue, it decreased by 1.8%[10] - Consolidated Adjusted EBITDA for Q4 2024 was $246 million, up 18.2% from $208 million in Q4 2023[10] - Full year 2025 consolidated revenue is expected to be approximately flat, while Adjusted EBITDA is projected to be around $770 million[10] - Free cash flow was negative $(24) million, but excluding Debt Exchange Transaction impacts, it was $111 million[10] - Full year 2024 revenue was $3,854.5 million, a 2.8% increase from $3,751.0 million in 2023[48] - Full year 2024 Adjusted EBITDA was $705.6 million, a 1.3% increase from $696.6 million in 2023[48] Segment Performance - Digital Audio Group revenue increased by 7% to $339 million, with podcast revenue up 6% to $140 million and digital revenue excluding podcast up 7% to $199 million[10] - Multiplatform Group revenue remained flat at $684 million, but excluding political revenue, it decreased by 5%[10] - Audio & Media Services Group revenue increased significantly by 44.7% to $97.8 million[12] Debt and Liquidity - The company completed a debt exchange transaction, exchanging approximately $4.8 billion of existing debt and extending maturities by three years[10] - The debt exchange resulted in the lowest net debt in the company's history[10] - Cash balance and total available liquidity were $260 million and $686 million, respectively, as of December 31, 2024[10]