It simply awaits FCC approval of its restructuring plan, at which time it will unwind its debtor-in-possession status. Until that happens, Cumulus Media’s executive leadership team, led by CEO Mary Berner and CFO Frank López-Balboa, remains focused on leveraging the company’s “core strengths” to drive long-term value creation.
That’s what Berner had to say as Cumulus early Wednesday (4/29) released its first quarter 2026 financial report. Noting that a federal bankruptcy court’s recent approval of Cumulus’ reorganization plan “marks a pivotal milestone” in strengthening its financial foundation and positioning the company to compete in the evolving media landscape, Berner largely let the numbers speak for themselves.
In Q1, Cumulus’ net loss was reduced to $16.86 million (-$0.96 per share), from $32.37 million (-$1.88 per share). However, the company that is going private and will liquidate its publicly traded shares saw its net revenue fall to $164.45 million, from $187.35 million. Adjusted EBITDA declined to $2.69 million, from $3.52 million.
The Operating Loss in Q1 widened to $26.42 million, from $14.77 million.
Breaking down the dollars, no revenue generation component — including Digital — brought revenue growth to Cumulus during the first three months of 2026 … except the “Other” category.
