Cumulus Media (CMLS) Tops Q3 EPS by 37c

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Go back to Cumulus Media (CMLS) Tops Q3 EPS by 37c

CUMULUS MEDIA Reports Operating Results for the Third Quarter 2020

November 5, 2020 8:01 AM EST

ATLANTA, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the Company, "CUMULUS MEDIA," we, us, or our) today announced operating results for the three and nine months ended September 30, 2020.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, "In the third quarter, the Company continued to focus on maximizing revenue performance, executing meaningful expense reductions, protecting cash through efficient working capital management and strengthening our balance sheet. Despite the extraordinary challenges of operating through a pandemic, we have reduced debt by $269 million and increased cash by $316 million since emerging from bankruptcy(1) in... More