Cumulus Q1 Revenue Falls 12% Amid Restructuring
| RADIO ONLINE | Wednesday, April 29, 2026 | 11:21am CT |
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 Cumulus Media |
Cumulus Media reported first quarter 2026 results showing declines in revenue and adjusted earnings as the company continues through its Chapter 11 restructuring process.
Net revenue for the quarter ended March 31 totaled $164.4 million, down 12.2% from $187.3 million in the same period a year ago. The company posted a net loss of $16.9 million, an improvement from a net loss of $32.4 million in the first quarter of 2025. Adjusted EBITDA declined 23.6% to $2.7 million.
Broadcast radio revenue fell 19.3% year-over-year to $100.7 million, with spot revenue down 16.3% and network revenue declining 24.9%. Digital revenue decreased 8.3% to $33.5 million, while other revenue rose 16.5% to $30.2 million.
President and CEO Mary G. Berner said the company's reorganization process marked a key milestone, noting that a U.S. Bankruptcy Court has approved its plan. The company is now awaiting FCC approval before the plan can take effect.
Cumulus filed for prepackaged Chapter 11 protection in early March, and the court confirmed its reorganization plan in mid-April. The company said it expects the plan to become effective once regulatory approvals and other conditions are satisfied.
As of March 31, Cumulus reported cash and cash equivalents of $57.6 million, down from $82.0 million at the end of 2025. Capital expenditures for the quarter totaled $3.9 million.
