As it prepares to exit its Chapter 11 bankruptcy protection, Cumulus Media released its Q1 2026 financial report this morning.

For the first three months of 2026, Cumulus net revenue dropped 12.2% from the same time period in 2025 for $164.4 million. Cumulus’ net loss was $16.9 million up from a loss of $32.4 million in Q1 2025. The biggest drop cam from its network revenue, which fell 24.9% from $43.933 million to $33.001 million. Local spot revenue was down 16.3% to $67.746 million, digital revenue fell 8.3% to $33.538 million, while other revenue rose 16.5% to $30.162 million.

Cumulus President/CEO Mary Berner said, “We are pleased to report first quarter earnings. The Court’s recent approval of our reorganization plan marks a pivotal milestone in strengthening our financial foundation and positioning the Company to compete in the evolving media landscape. While we await FCC approval of the plan, we remain focused on leveraging our core strengths to drive long-term value creation.”