Cumulus Media reports Q2 2026 revenue decline amid bankruptcy reorganization

Cumulus Media has reported its operating results for the second quarter of 2026, showing a decline in revenue as the company navigates Chapter 11 bankruptcy proceedings. For the three months ended June 30, 2026, net revenue fell 9.7% to $167.9 million compared to the same period in 2025. The company reported a net loss of $9.2 million for the quarter, while Adjusted EBITDA decreased by 28.3% to $16.0 million.

For the first half of 2026, net revenue decreased 11% to $332.4 million, with a net loss of $26.1 million. A breakdown of the quarterly figures shows that broadcast revenue declined 13.2% to $102.8 million, and network revenue saw a significant drop of 21.5%. Digital revenue remained relatively flat at $38.7 million.

CEO Mary G. Berner stated that the company is positioned to emerge from bankruptcy with a stronger balance sheet once the court-confirmed reorganization plan and FCC approval processes are complete. The restructuring aims to eliminate approximately $600 million in debt through a debt-for-equity exchange.