ResultApr 10, 2026, 08:07 AM
Cumulus Media Reports 2025 Revenue Down 10.3% to $741.7M, Adjusted EBITDA Plunges 37.1% to $52.0M Amid Restructuring
AI Summary
Cumulus Media Inc. announced its operating results for the full year and fourth quarter ended December 31, 2025, revealing significant declines across key financial metrics. For the full year, net revenue decreased by 10.3% to $741.7 million, while Adjusted EBITDA plummeted 37.1% to $52.0 million. The company also reported a net loss of $200.7 million, though this was an improvement from the $283.3 million loss in 2024. These results come as the company navigates a recently announced financial restructuring, including prepackaged Chapter 11 proceedings initiated in March 2026, aimed at reducing its substantial debt burden.
Key Highlights
- Full-year 2025 net revenue decreased 10.3% to $741.7 million from $827.1 million in 2024.
- Full-year 2025 Adjusted EBITDA declined 37.1% to $52.0 million from $82.7 million in 2024.
- The company reported a full-year 2025 net loss of $200.7 million, narrowing from a $283.3 million net loss in 2024.
- Fourth quarter 2025 net revenue fell 14.0% to $188.1 million, with Adjusted EBITDA decreasing 62.2% to $9.5 million compared to the prior year quarter.
- Broadcast radio revenue for the full year 2025 decreased 15.9% to $474.5 million, with spot revenue down 12.9% and network revenue down 22.5%. Digital revenue also saw a slight decline of 1.9% to $151.3 million.
- CEO Mary G. Berner stated that the recently announced financial restructuring is an "important step toward meaningfully reducing the debt burden that has constrained the business," with a focus on building core strengths to maximize value.
- The company previously announced on March 5, 2026, that it and certain subsidiaries filed voluntary petitions for prepackaged Chapter 11 proceedings.