Cumulus Reports Q4 and Year End 2016 Earnings:

Cumulus has reported annual 2016 revenues of $1.141 billion, down 2.3% from the prior year. Net income was $510 million, down from $546 million and Adjusted EBITDA was down 20.6% to $205.9 million from 2015. For Q4 2016, the company reported net revenue down 3% to $299.5 million, a net loss of $543.7 million and Adjusted EBITDA of $56.9 million, down 9.8% from Q4 2015. "We entered 2016 with a singular objective: to fix the core business problems – poor culture, poor ratings and poor operational execution," says CEO Mary Berner. "Throughout the year we made significant progress addressing each of these areas, most visibly in ratings growth where we've outperformed the industry for 15 straight months." See the entire report here.