As Cumulus Media proceeds with its Chapter 11 bankruptcy restructuring, the company is released its Q4 and year-end financial report for 2025.

For the year, Cumulus reported net revenue of $741.7 million down 10.3% from $827.1 million in 2024, a net loss of $200.7 million and Adjusted EBITDA of $52.0 million. Broadcast radio revenue was down 15.9% to $474.5 million with local spot advertising down 12.9% and network revenue down 22.5%. Digital was down 1.9% while other revenue rose 6.6%.

Cumulus President/CEO Mary Berner said, “The Company’s recently announced financial restructuring marks an important step toward meaningfully reducing the debt burden that has constrained the business. Looking ahead, we remain focused on building on the core strengths of the Company to maximize value.”