NASDAQ CMLS $10.09 +0.08 +0.80%

CUMULUS MEDIA Reports Operating Results for the Second Quarter 2021

ATLANTA, GA — August 4, 2021: Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “CUMULUS MEDIA,” “we,” “us,” or “our”) today announced operating results for the six months ended June 30, 2021.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “This quarter’s results clearly reflect the success we are having in accelerating our positive revenue trajectory. In addition to the continued improvement in the core radio business, total digital revenue grew by 55% year-over-year, with each of our digital channels posting new all-time highs. Additionally, we enhanced our considerable stronghold in the news/talk ecosystem with The Dan Bongino Show, now on over 300 radio stations – the largest launch ever for a new and original syndication. We also significantly deepened our position in the fast-growing sports betting space with an innovative and expansive multi-year, multi-platform marketing and content partnership with WynnBET, which is poised to become one of our largest clients through this new relationship.”

Berner added, “We continue to reduce the Company’s fixed cost structure, increasing our expectation for fixed cost reductions to $70 million in 2022 from our prior guidance of $50 million versus the 2019 baseline. Additionally, we bolstered our cash and balance sheet with the highly accretive, $34 million monetization of our Nashville real estate. Looking forward, we are confident that we will see significant top-line growth and meaningful recovery in EBITDA, which, along with our substantial financial flexibility, gives us multiple pathways for continued growth of shareholder value.”

8/4/21 CUMULUS MEDIA Reports Operating Results for the Second Quarter 2021
8/4/21 CUMULUS MEDIA Announces Completion of the Sale of Non-Core Nashville Real Estate for $34 Million
7/15/21 CUMULUS MEDIA Announces Conference Call to Discuss Second Quarter 2021 Operating Results
6/25/21 CUMULUS MEDIA Announces Successful Completion of $175 Million Debt Paydown
5/26/21 CUMULUS MEDIA Accelerates its Debt Reduction by Commencing $175 Million Debt Paydown
5/5/21 CUMULUS MEDIA Reports Operating Results for the First Quarter 2021
4/6/21 CUMULUS MEDIA Announces Conference Call to Discuss First Quarter 2021 Operating Results
2/23/21 CUMULUS MEDIA Reports Operating Results for 2020
7/15/21 CUMULUS MEDIA Announces Conference Call to Discuss Second Quarter 2021 Operating Results
7/8/21 CUMULUS MEDIA Elevates Dave Milner and Bob Walker to Newly Created Executive Positions as President, Cumulus Operations
6/25/21 CUMULUS MEDIA Announces Successful Completion of $175 Million Debt Paydown
6/22/21 CUMULUS MEDIA and DCP Entertainment Launch Who Was Prince?
6/17/21 CUMULUS MEDIA Names Jeff Boden Vice President/Market Manager, Cumulus Washington, D.C.
6/11/21 CUMULUS MEDIA Personalities Roula Christie and Amanda Orlando Recognized with 2021 Gracie Awards
6/10/21 CUMULUS MEDIA Enters Into Exclusive Sales Partnership With Adomni
6/2/21 CUMULUS MEDIA Announces the Westwood One / NCAA Radio Network to Broadcast the Entire Women’s College World Series for the First Time
5/26/21 CUMULUS MEDIA Accelerates its Debt Reduction by Commencing $175 Million Debt Paydown
5/24/21 The New Dan Bongino Show Debuted Today
5/24/21 CUMULUS MEDIA Launches First All-Digital AM Station in New York Metropolitan Area
5/21/21 Westwood One Wins 2021 Deadline Club Award
5/20/21 The Dan Bongino Show Debuts May 24th on Westwood One
5/20/21 CUMULUS MEDIA Integrates into DTS AutoStage™ Ecosystem
5/18/21 Westwood One Presents Live Coverage From The 2021 PGA Championship
5/12/21 Westwood One Wins National Headliner Award First Place Honor
5/11/21 CUMULUS MEDIA And Signal Hill Insights’ Podcast Download — Spring 2021 Report
5/5/21 Give Them Lala … With Randall Launches Today On The Westwood One Podcast Network
4/27/21 Westwood One Elevates Several Key Staffers
4/21/21 CUMULUS MEDIA Rebrands Westwood One Podcast Network
4/7/21 Barstool Sports “Picks Central” Joins Westwood One Radio
4/5/21 Westwood One Sports Covers The 85th Masters Tournament With Daily Updates And Evening Highlight Shows
3/27/21 Dan Bongino to Helm New Program for Westwood One
3/23/21 DCP Entertainment And Westwood One Partner For Podcasts
3/23/21 Gaby Dunn Joins The Westwood One Podcast Network
3/16/21 Westwood One Presents Exclusive Multiplatform Audio Coverage Of The 2021 NCAA® Men’s Basketball Tournament
3/5/21 Just Getting Started With Rich Eisen Launches Today On The Westwood One Podcast Network
2/25/21 The Dan Bongino Show Hits 100th Affiliate Milestone
2/24/21 Westwood One And Sony Nashville Partner To Raise Awareness For The 2022 Special Olympics USA Games
2/10/21 Brown Ambition Joins the Westwood One Podcast Network
2/9/21 CUMULUS MEDIA Announces Conference Call to Discuss Operating Results for 2020
1/12/21 Westwood One Presents Season-Long College Basketball Coverage
9/17/21 Emmy-Winning Host Catie Keogh Takes 890 WLS-AM Listeners on New Travel Adventures in “Let’s Go with Catie Keogh”
9/14/21 CUMULUS MEDIA Appoints Bret Gogoel as Executive Producer of “The John Howell Show” on Chicago’s 890 WLS-AM
9/14/21 CUMULUS MEDIA Brings Powerful Gospel Station to New Orleans With the Launch of Heaven 106.7 FM/KKND
9/14/21 Have Fun and Stay Safe With Q99.7 at Atlanta’s 2021 Music Midtown Festival!
9/14/21 Nissan Stadium Plays Host to White House vs. Waverly Central this Thursday
9/13/21 CUMULUS MEDIA Turns On 102.9 Cat Country/KTOP-FM in Topeka
9/13/21 Lisa (Captain) Curry, Co-Host of Coast 93.3’s “Lisa & Chris Morning Show” Retires After Nearly 40 Years in Radio
9/10/21 Country Star Chris Young Joins New Country 96.3’s Hawkeye in the Morning Show For New Weekly Segment, “The Chris Young Cowboys Post Game Show”
9/9/21 Robert “Woody” Nelson Joins Cumulus Minneapolis Classic Rock Station 92KQRS as Midday Host
9/8/21 Cumulus Tucson’s KiiM-FM 99.5 to Mark 20th Anniversary of 9/11 With “Healing Field” of 2,977 American Flags Honoring First Responders and Victims of 9/11 Attacks
9/7/21 Robert “Woody” Nelson Joins Cumulus Minneapolis Classic Rock Station 92KQRS as Midday Host
9/2/21 “Round Trip With Colleen Kelly” Scheduled for Take Off in Chicago This Sunday on 890 WLS-AM
9/2/21 Cumulus San Francisco Turns Up Afternoons on Classic Rocker 107.7 The Bone With New On-Air Host, Joe “Joe Hawk” Ceccotti
8/31/21 Cumulus Dallas Taps Bruce Collins as Program Director for NewsTalk WBAP 820 AM and News & Information KLIF 570 AM
8/23/21 Mallory Vor Broker to Cover Chicago Political Scene as New City Hall Reporter for 890 WLS-AM
8/18/21 Phil Cianciola to Host Mornings on CUMULUS MEDIA’s News-Talk 1490 WOSH-AM in Appleton-Oshkosh, WI
8/17/21 CUMULUS MEDIA Bolsters Dallas Sales Leadership Team
8/16/21 Dave Grande Joins Cumulus Colorado Springs Classic Rock Station 98.1 KKFM-FM as Afternoon Drive Host/Promotions Director
8/16/21 On-Air Host and Social Media Personality Mason Takes the Morning Mic at Cumulus DFW’s HOT 93.3/KLIF-FM
8/12/21 Cumulus Charleston’s Z93 JAMZ/WWWZ-FM to Broadcast Live From Moncks Corner, SC, With Host Charlamagne Tha God as City of Charleston Proclaims Saturday, August 14, 2021, “Charlamagne Tha God Day”
8/11/21 Buffalo Radio Legends Shredd & Ragan Make Big Move to Mornings on 97 Rock/WGRF-FM
8/10/21 Paul Mason to Head Programming Operations for Titans Radio
8/5/21 CUMULUS MEDIA’s KNML/95.9 FM and AM 610, The Sports Animal, Adds Las Vegas Raiders and Denver Broncos Football Broadcasts in Albuquerque
7/29/21 Tennessee Titans and Cumulus Nashville Announce Multi-Year Extension of Exclusive Broadcast Agreement With 104.5 The Zone/WGFX-FM
7/26/21 Cumulus San Francisco Promotes Chasta Michaelis to Program Director for 107.7 The Bone/KSAN-FM
7/23/21 Bill Cameron, 890 WLS-AM Host and “Dean” of Chicago Political Reporters, Announces Retirement After Brilliant 51-Year Career
7/21/21 CUMULUS MEDIA Taps Popular Colorado Springs Radio Personality Cliff Cage as On-Air Host, Nights on 98.9 MAGIC FM/KKMG-FM
7/20/21 Radio Veteran Shawn Knight Joins Cumulus Topeka as Host of Mornings on Majic 107.7/KMAJ-FM
7/16/21 Country Favorite Brian Taylor Takes Afternoons On Cumulus Colorado Springs’ CAT Country 95.1/KATC-FM
7/15/21 Cumulus Nashville’s 104.5 The Zone Launches New Podcast, “The Install with Greg Cosell”
7/12/21 CUMULUS MEDIA Names Kevin Graham as Program Director for KNBR 104.5FM / 680AM The Sports Leader
7/6/21 David Bartley Joins CUMULUS Wilmington as Program Director of AC Station 102.7 GNI/WGNI-FM and Classic Rocker 94.5 THE HAWK/WKXS-FM
7/6/21 Matt “Sparks” Sparker Takes Afternoon Drive Mic at Cumulus Kansas City’s Classic Rocker 101 The Fox/KCFX-FM
7/1/21 CUMULUS MEDIA’s Jox 94.5/WJOX-FM to Kick Off All-Star Morning Show for Birmingham Football Fans on Monday, July 12th
6/28/21 Cumulus Nashville’s 104.5 The Zone Launches New Podcast, “3 The Pro Way” on How to Move From One Career to Another Successfully
6/23/21 CUMULUS MEDIA Promotes Don Brake to Operations Manager for Savannah, GA, Radio Stations and Program Director for Country Station KIX 96/WJCL-FM
6/21/21 Zachary Burton Named Full-Time Afternoon Host and Music Director for Top 40 Station 99.5 zpl/WZPL-FM in Indianapolis
6/21/21 CUMULUS MEDIA Appoints James Robinson as Vice President/Market Manager, Cumulus Birmingham
6/14/21 CUMULUS MEDIA Names Jim Fox as Operations Manager of Its Seven Kansas City Radio Stations and Program Director for 94.9 KCMO-FM
6/8/21 CUMULUS MEDIA’s “Zazza Mornings” Shines Positive Light on Area Youth With “Zazza’s Community Kids!” Recognition Program
5/3/21 Legendary Boston Rock Radio Personality Mistress Carrie Takes Afternoon Drive at The Pike 100 FM/WWFX
5/3/21 Kiss 103.1/WLXC-FM Announces New Weekday Programming Lineup
5/3/21 Cumulus Charleston Brings Native Son Charlamagne Tha God Home to Lowcountry Mornings on Z93 JAMZ/WWWZ-FM
4/30/21 Two Cumulus Toledo/Monroe, OH, Stations Head to New HD2 Homes on Saturday, May 1st
4/28/21 Former Tennessee Volunteers Basketball Star Ron Slay Joins “3HL” On-Air Team on Nashville’s 104.5 The Zone/WGFX-FM
4/28/21 980 The WAAV/WAAV-AM to Launch “Wilmington’s Morning News with Nick Craig” on Monday, May 3rd
4/27/21 CUMULUS MEDIA Names Radio Broadcasting Veteran Tricia Gallenbeck Vice President/Market Manager of Cumulus Eugene
4/19/21 Kansas City Radio Legend Sean Tyler and Emmy-Winning Actress Tasha Mack Team Up for Exciting New Morning Show on 107.3 KC’s R&B and Hip Hop/KMJK-FM
4/15/21 K-Bull 93’s “Lexi and Banks” Captures ACM Award for On-Air Personality of the Year-Large Market
4/15/21 104.5 The Zone Launches 104.5 The Zone TV
4/5/21 Radio Executive Larry Blumhagen Joins CUMULUS MEDIA as Vice President/Market Manager, Cumulus San Francisco
4/1/21 Heritage Country Radio Brand B95, Your Hit Country/WFBE-FM, Returns to the Greater Flint, MI, Area Today
3/29/21 Nashville’s 104.5 The Zone and A to Z Sports Team Up to Create Next-Level Sports Information and Entertainment Platform Through Innovative Content Partnership
3/29/21 CUMULUS MEDIA Promotes Bo Jaxon to Program Director for Cat Country 95.1/KATC-FM in Colorado Springs
3/24/21 ESPN 630 AM The Sports Capitol Named the Official Washington, D.C. Radio Home of the Baltimore Orioles
3/10/21 Twin Cities Radio Veteran Dana Wessel Joins 93X/KXXR-FM’s “Half-Assed Morning Show” as Executive Producer
3/8/21 CUMULUS MEDIA Appoints David Corey as Director of FM Programming for Detroit Radio Stations WDVD and WDRQ
3/3/21 A to Z Sports’ Titans Reporter and Host Buck Reising Joins Nashville’s 104.5 The Zone as New Midday Host
2/22/21 Veteran Rock Radio Personality Mike Hsu Debuts Today as Morning Show Host on Cumulus Worcester’s The Pike 100 FM/WWFX-FM
2/22/21 Rachel Ryan Debuts Today as On-Air Host, Middays, on DFW’s New Country 96.3/KSCS-FM
2/11/21 CUMULUS MEDIA Promotes Joel Shimer to On-Air Co-Host for “The HAWK Morning Show with Rick and Joel” on Classic Rock Station 99.9 The HAWK/WODE-FM
2/10/21 K-Bull 93’s “Lexi and Banks” Nominated for ACM Award for On-Air Personality of the Year-Large Market for Third Consecutive Year
2/7/21 Popular Minneapolis Radio Personality Jordan Alamat Joins Cumulus Minnesota as On-Air Host, Nights on 93X/KXXR-FM
2/2/21 CUMULUS MEDIA Taps Don Pollnow as Vice President/Market Manager for Cumulus Montgomery, AL
2/1/21 On-Air Talent Dallace Jade Debuts Today as Midday Personality on Q97.3, Shreveport’s Home for Today’s Best Music Mix
1/26/21 Veteran Chicago Journalist Kim Gordon Joins 890 WLS-AM as News Anchor, Afternoon Drive
1/19/21 890 WLS-AM Morning News Anchor Nick Gale Rises to News Director for Chicago’s Legendary News Talk Station
1/18/21 Q99.7, Atlanta’s Hit Music Station, Turns Up the Fun With January 19th Debut of Two New Live and Local Weekday Shows
1/18/21 Turn It UP! Cumulus Abilene’s KTLT-FM Flips From Sports Talk to Rock as the All-New 98.1 The Phantom
1/11/21 Albuquerque’s Magic 99.5 Turns Up Its Music Mix With Today’s Hits and Yesterday’s Favorites; Announces New On-Air Lineup for 2021
1/8/21 Country Radio Personality Jason Pullman Comes Home to Atlanta as Midday Host on New Country 101-FIVE/WKHX
1/7/21 Cumulus Dallas Radio Stations Raise a Total of $1,743,857 for Local Charities in 2020
1/6/21 WWCK-AM1570 and W297CG 107.3 FM Bring Classic Hits to Flint, MI, With Launch of All-New K107.3
1/5/21 Popular Cincinnati Radio Personality Karen Van Zant Kicks Off 2021 With New Live and Local Morning Show on Cat Country 94.1/WNNF-FM
9/14/21 Have Fun and Stay Safe With Q99.7 at Atlanta’s 2021 Music Midtown Festival!
9/8/21 Cumulus Tucson’s KiiM-FM 99.5 to Mark 20th Anniversary of 9/11 With “Healing Field” of 2,977 American Flags Honoring First Responders and Victims of 9/11 Attacks
7/15/21 The BOB & TOM Show Comedians Kick Off Summer With The BOB & TOM Show’s Pop-Up Comedy For A Cause Live Comedy Benefit, Raising $10,000 in One Night to Send Indianapolis Children to Summer Camp
6/8/21 CUMULUS MEDIA’s “Zazza Mornings” Shines Positive Light on Area Youth With “Zazza’s Community Kids!” Recognition Program
1/7/21 Cumulus Dallas Radio Stations Raise a Total of $1,743,857 for Local Charities in 2020
12/17/20 WIVK raises over $297,000 during Country Cares for St. Jude Kids Radiothon
12/15/20 WBAP and Denton State Supported Living Center Partner for the 42nd Annual Christmas is for Caring Radiothon, Raising $225,000 for the Facility’s Residents
12/15/20 KLIF News & Information 570AM Raises More Than $44,000 to Purchase Toys For Underprivileged Kids During the 32nd Annual KLIF Kids Toy Drive
12/14/20 WJR Detroit’s Mitch Albom Joins Celebrity Friends and Listeners in Raising a Record $1,519,041 for Charities in 9th Annual Mitch Albom SAY Detroit Radiothon
12/11/20 Cumulus Shreveport Radio Stations Raise Over $52,000 in 2nd Annual Radiothon for Shriners Hospital for Children
12/10/20 105.9 FM WMAL Raises $368,000 to Help House Families of Injured Military Members in Two-Day WMAL Operation Fisher House Radiothon
12/10/20 Cumulus Indianapolis Top 40 Station WZPL Raises Over $1 Million for Make-A-Wish Foundation in Just 36 Hours Through 24th Annual Request-A-Thon
12/10/20 670 KBOI Delivers Again For Treasure Valley Children Through 4th Annual US Marine Corps Reserve Toys For Tots Drive, Idaho’s Biggest Toy Drive
12/9/20 Cumulus Media Nashville Collects Thousands at Toy Field!
12/8/20 New Country 96.3 and 99.5 The Wolf Team Up to Raise $443,757 for Cook Children’s Medical Center, a Children’s Miracle Network Hospital in Fort Worth, Texas.
12/2/20 CUMULUS MEDIA Nashville to Build A Toy Field for The Salvation Army’s Forgotten Angels
11/18/20 CUMULUS MEDIA, Burger King and Friends Present: “Hope for the Holidays 2020”, a Food and Toy Drive For Local Children in Need, in Partnership With God’s Pantry Food Bank, Firefighter Toy Drive and the Salvation Army
11/10/20 101 The Fox Celebrates Veterans Day by Gifting 11 Cars to 11 Local Veterans with Cars4Heroes
10/28/20 Kix96/WJCL-FM Program Director and On-Air Personality Gerry McCracken Receives Outstanding Georgia Citizen Award for Distinguished Community Service
9/28/20 Sportradio 96.7 and 1310 The Ticket Raises $105,972 to Help Clothe DFW-Area Homeless Through 7th Annual Drop Your Pants Clothing Drive


Firm NameCFA
B. RileyDaniel Day
Goldman SachsJay Mayers
Noble Capital MarketsMichael Kupinski
Wolfe ResearchJohn Janedis

Corporate Office

3280 Peachtree Road, NW
Suite 2200
Atlanta, Georgia 30305

Investor Contact

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Corporate Officers

Mary G. Berner
President and Chief Executive Officer

Frank Lopez-Balboa
Executive Vice President, Treasurer and Chief Financial Officer

Richard S. Denning
Executive Vice President, Secretary and General Counsel

CUMULUS MEDIA (NASDAQ: CMLS) is a leading media, advertising, and marketing services company delivering premium content to over a quarter billion people every month—wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 413 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across nearly 7,300 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the CUMULUS Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit