Cumulus Pays Down $50 Million In Debt

• Cumulus Media Inc. today announced that it has made a $50 million voluntary debt prepayment, continuing its commitment to reducing leverage.

The debt prepayment was funded by the net proceeds from the previously announced sale of KLOS-FM/Los Angeles to Meruelo Media, which closed on July 17, 2019, as well as cash on hand generated from operations.

With this prepayment, the Company has reduced its debt by approximately $250 million since emerging from Chapter 11 on June 4, 2018, bringing the Company’s total debt to approximately $1.05 billion.