Cumulus Media (CMLS) Issues Letter to Shareholders

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Go back to Cumulus Media (CMLS) Issues Letter to Shareholders

Cumulus Media Sends Letter to Shareholders Regarding Strong Financial Results and Outlook, New Capital Return Program and Response to Unsolicited Indication of Interest

May 4, 2022 8:02 AM EDT

Delivers Strong Q1 Earnings Results with Total Revenue Up 15% Led by Digital Revenue Growth of 18%

Achieves Lowest Net Leverage Ratio in More Than a Decade and Best Among Peers

Reiterating 2022 EBITDA Guidance Range of $175-200 Million

Announcing $50 Million Share Repurchase Program

Board Determined Unsolicited, Non-Binding, Highly Conditional Indication of Interest Significantly Undervalues Cumulus Media and is Not in the Best Interests of Shareholders

... More