CUMULUS MEDIA INC (CMLS) Form 10-Q — Aug 14, 2026
Cumulus Media filed its Q2 2026 Form 10-Q as a Debtor-In-Possession following its March 4, 2026 Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas. The prepackaged reorganization plan was confirmed on April 15, 2026, but emergence remains pending FCC approval and the Emergence Milestone was extended to October 27, 2026. Second quarter net revenue fell 9.7% year over year to $167.9 million with a net loss of $9.2 million ($0.52 per share), while Adjusted EBITDA declined 27.7% to $18.7 million.
Key figures
- Revenue
- 167907000
- Revenue Yoy
- -9.7%
- Total Assets
- 894735000
- Cash Position
- 61111000
- Shares Outstanding
- 17668032
- Rsa support
- 88.4% of 2029 Term Loans and Senior Notes due 2029 held by Consenting 2029 Holders
- Petition date
- March 4, 2026
- Chapter11 case
- In re Cumulus Media Inc., et al, Case No. 26-90346 (ARP), S.D. Tex.
- New equity split
- 95% to secured 2029 claimholders, 5% to 2026 claimholders/deficiency claims, subject to 10% MIP dilution
- Six month revenue
- 332354000
- Revolver outstanding
- 60000000
- Six month revenue yoy
- -11.0%
- Exit convertible notes
- 50000000
- Plan confirmation date
- April 15, 2026
- Adjusted ebitda q2 2025
- 25877000
- Adjusted ebitda q2 2026
- 18715000
- Station sale agreements
- 4700000
- Adjusted ebitda yoy change
- -27.7%
- Reorg items paid six months
- 13056000
- Emergence milestone extended to
- October 27, 2026
- Reorg items net six months gain
- 14432000
- Liabilities subject to compromise
- 1044026000
- Prepetition debt reclassified to lstc
- 697120000
AI analysis
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