Welcome to our dedicated page for Cumulus Media SEC filings (Ticker: CMLS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Cumulus Media Inc. (CMLS) SEC filings page provides access to the company’s official regulatory disclosures, including current reports, earnings-related documents, and other materials filed with the U.S. Securities and Exchange Commission. As an audio-first media company with broadcast radio, network, and digital operations, Cumulus Media uses these filings to report financial performance, capital structure details, and significant corporate events.
Among the key documents are Form 8-K current reports. For example, Cumulus Media has filed 8-Ks to furnish its press release announcing operating results for the three and nine months ended September 30, 2025, and to disclose board changes, such as the resignation of a director and the appointment of Carol Flaton to the Board. These filings outline how the company communicates material information on results of operations, financial condition, and governance matters.
Investors can also use Cumulus Media’s SEC filings to understand its revenue composition and non-GAAP metrics. In earnings-related materials incorporated into 8-K exhibits, the company breaks out broadcast radio, digital, and other revenue, and explains non-GAAP measures like Adjusted EBITDA, total debt at maturity, and net debt less total unamortized discount. Management discusses why these measures are used to evaluate performance, monitor leverage, and compare media companies.
On this page, Stock Titan surfaces CMLS filings as they are made available on EDGAR and enhances them with AI-powered summaries. These summaries are designed to highlight the main points of lengthy documents, such as what drove quarterly results, how revenue categories shifted, or what a particular governance disclosure means in practical terms. Users can quickly locate quarterly earnings materials, current reports on significant events, and other disclosures relevant to Cumulus Media’s broadcast, network, and digital audio businesses.
Cumulus Media Inc. reports that the U.S. Bankruptcy Court has confirmed its joint prepackaged Chapter 11 reorganization plan. The company expects the plan to become effective after Federal Communications Commission and other regulatory approvals.
As of April 3, 2026, Cumulus had 17,668,032 shares of common stock outstanding. Under the plan, all existing common shares and related equity interests will be cancelled on the effective date with no distribution, while new common stock, Special Warrants and Exit Convertible Notes will be issued to creditors. The new common stock is not expected to be listed on any securities exchange or registered under the Securities Act.
A company press release states the plan is expected to eliminate approximately $600 million of debt and strengthen the balance sheet. On the effective date, Cumulus intends to file Form 15 to deregister its common stock and immediately suspend SEC periodic reporting. The filing also details amended employment agreements for the CEO and CFO, reduced base salaries, revised severance multiples, and a new management incentive plan reserving 10% of the new common stock for awards.
Cumulus Media Inc. reports in its Form 10-K that it is operating under Chapter 11 protection to implement a comprehensive debt restructuring. The proposed plan would cancel all existing Class A and Class B common stock, with no recovery for current shareholders, and exchange secured 2029 debt for $50 million of new convertible notes plus most of the new equity. The reorganized company does not intend to list its new shares on a national exchange or maintain SEC reporting, while continuing to run 393 stations in 84 markets and a large podcast and network business as debtors-in-possession.
Cumulus Media Inc. reported weaker results for the three months and year ended December 31, 2025, while pursuing a prepackaged Chapter 11 restructuring begun on March 5, 2026. Full-year net revenue was $741.7M, down 10.3%, with a net loss of $200.7M and Adjusted EBITDA of $52.0M versus $82.7M in 2024.
In the fourth quarter, net revenue was $188.1M, down 14.0%, with a net loss of $135.1M and Adjusted EBITDA of $9.5M. Broadcast radio, especially network, declined, while digital and “other” revenue were more resilient. The company recorded $109.8M of intangible asset impairments in 2025, contributing to losses, but ended the year with $82.0M in cash and access to its 2020 revolving credit facility.
Cumulus Media Inc. notified the SEC that it cannot timely file its Annual Report on Form 10-K for the year ended December 31, 2025 because the company and certain subsidiaries commenced voluntary Chapter 11 cases on March 4, 2026.
The company says Bankruptcy Court approval is required to retain PwC as its independent registered public accounting firm; the audit and opinion cannot be completed until retention is approved. The company currently expects consolidated net revenue of $741.7 million and a net loss of $200.7 million for 2025, and discloses substantial doubt about its ability to continue as a going concern.
Cumulus Media Inc. has entered into a restructuring support agreement with key lenders and filed voluntary Chapter 11 cases to implement a prepackaged reorganization plan. The plan is expected to cut funded debt by approximately $592 million through equitizing 2029 secured and other funded debt, and reduce annual cash interest by about $49 million. The company has an ABL commitment letter providing up to $100 million in amended and restated ABL commitments and is using cash collateral with creditor consent to continue operating as a debtor-in-possession.
The company states it expects no adverse operational impact and plans to pay employees and vendors in the ordinary course during the cases. Under the plan, general unsecured claims are expected to be unimpaired, while all existing Class A and Class B common stock will be cancelled for no consideration, with holders receiving no recovery. Cumulus warns that trading in its securities during the Chapter 11 process is highly speculative and that investors could suffer a significant or complete loss.
Cumulus Media Inc. reported a planned change on its board of directors. On January 14, 2026, Joan Hogan Gillman notified the company that she intends to resign from the board, effective January 15, 2026, upon the election of her successor. The board then appointed Carol Flaton as a director, effective January 15, 2026.
The company states that Ms. Flaton meets the independence requirements of SEC rules and will serve until the company’s 2026 annual meeting of stockholders, and until a successor is elected and qualified. She will receive cash compensation of $40,000 per month for her board service. The company issued a press release announcing her appointment, furnished as Exhibit 99.1.
Cumulus Media Inc. reported a planned change on its board of directors. On January 14, 2026, Joan Hogan Gillman notified the company that she intends to resign from the board, effective January 15, 2026, upon the election of her successor. The board then appointed Carol Flaton as a director, effective January 15, 2026.
The company states that Ms. Flaton meets the independence requirements of SEC rules and will serve until the company’s 2026 annual meeting of stockholders, and until a successor is elected and qualified. She will receive cash compensation of $40,000 per month for her board service. The company issued a press release announcing her appointment, furnished as Exhibit 99.1.
Barclays PLC filed a Schedule 13G reporting a passive stake in Cumulus Media Inc. (Class A). Barclays reported beneficial ownership of 897,445 shares, representing 5.23% of the class as of 09/30/2025.
The filing lists sole voting power: 897,445 and sole dispositive power: 897,445, with no shared voting or dispositive power. Barclays is identified as a parent holding company (HC), with subsidiaries Barclays Bank PLC and Barclays Capital Inc noted. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
Cumulus Media Inc. reported softer Q3 results with net revenue of $180.3 million, down 11.5% year over year, as spot and network advertising declined. The company posted a net loss of $20.4 million versus a $10.3 million loss a year ago, and Adjusted EBITDA fell to $16.7 million from $24.1 million. Corporate expenses rose, including $8.0 million accrued for ASCAP and BMI royalty settlements.
For the first nine months, revenue was $553.6 million, down 9.0%, and net loss widened to $65.6 million. Cash and equivalents were $90.4 million as of September 30, 2025. The company had $59.3 million outstanding under its $125.0 million 2020 Revolving Credit Facility. Debt maturities include $23.9 million in 2026 and $673.2 million in 2029. As of October 23, 2025, shares outstanding were 17,440,084.
Cumulus Media Inc. furnished a press release announcing operating results for the three and nine months ended September 30, 2025. The disclosure was made under Item 2.02 and includes Exhibit 99.1, the press release dated October 30, 2025.
The information in Item 2.02 and Exhibit 99.1 is furnished, not filed, and is not subject to Section 18 liabilities or incorporated into other filings unless specifically referenced. The filing also lists Exhibit 104, the cover page Inline XBRL data. The report was signed by CFO Francisco J. Lopez‑Balboa on October 30, 2025.