Cumulus Media Appoints Frank Lopez-Balboa as EVP/CFO

RADIO ONLINE | Thursday, March 19, 2020

Frank Lopez-Balboa

Cumulus Media appoints Frank Lopez-Balboa as Executive Vice President and Chief Financial Officer, effective March 23. Most recently, he served as Executive VP/CFO of Univision Communications. Prior to Univision, Lopez-Balboa spent more than 20 years in investment banking at Goldman Sachs, where he founded the firm's debt financing efforts for large cap Communications, Media and Entertainment companies and later served as Head of Telecom, Media, Technology and Investment Grade Financing.

"We are pleased to welcome Frank as our new Chief Financial Officer," said President/CEO Mary G. Berner. "A widely respected executive, he is an ideal fit with Cumulus. Frank comes to us with a deep understanding of our industry, significant expertise in corporate finance and strategy and an impressive record of running a major, multi-location finance organization. I am confident, especially in these challenging times, that Frank will make a significant contribution to our progress against our financial goals and key strategic initiatives to continue creating value for our shareholders."

"I have followed Cumulus closely over the last several years and greatly admire the success it has achieved in executing its turnaround," added Lopez-Balboa. "I am excited to have this opportunity to join Cumulus and look forward to working closely with Mary, the finance team and the entire company to continue driving strong results."