Reve-News: Cumulus reported Q1 2024 net revenue of $200.1 million, down 2.7% year-over-year. Adjusted EBITDA was $8.4m, off 18.4% from the prior year's $10.3m. The company reported a net loss of $14.2m, compared to a loss of $21.5 in Q1 2023. Broadcast radio revenue was down 7.3% for spot and down 2.3% for network, while digital was up 7.3%. The company also completed a successful debt exchange reducing the principal by approximately $33m. "With the advertising environment still unsettled, these new terms provide us additional time and flexibility to execute against our key business priorities – accelerating digital growth, reducing fixed costs, and continuing to de-lever our balance sheet," says CEO Mary Berner. Full release here.