Cumulus Media reported Q1 net revenue of $164.4 million — a 12.2% decline YoY — and a net loss of $16.9 million, a 47.9% improvement over the prior year, Stock Titan reports. Total broadcast
radio revenue fell by 19.3%. The Bankruptcy Court has confirmed the firm’s prepackaged Chapter 11, and it now awaits FCC and other regulatory approvals.