Court Approves Cumulus Reorganization Plan

• Cumulus Media Inc. announced that the United States Bankruptcy Court for the Southern District of Texas has approved its previously disclosed Plan of Reorganization.

With that approval now secured, Cumulus expects to emerge from Chapter 11 following FCC approval. The Company continues to operate its business as usual throughout this process.

“When we initiated this prepackaged restructuring in March, we did so with a clear objective: to right-size our balance sheet to support long-term success,” said Mary G. Berner, President & CEO of Cumulus Media. “The court’s prompt approval of our plan keeps us firmly on track to eliminate approximately $600 million in debt and positions us to emerge with a significantly stronger financial foundation. We look forward to completing the restructuring and emerging as a well-capitalized company, better equipped to compete in the evolving audio landscape.”

Additional information regarding the restructuring is available at cumulus.com/restructuring.