Cumulus Media (CMLS) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 23, 2015
Document Information [Line Items]
Entity Registrant Name	CUMULUS MEDIA INC
Trading Symbol	CMLS
Entity Central Index Key	1,058,623
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		233,125,605
Class C common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		644,871

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 32,734	$ 7,271
Restricted cash	8,421	10,055
Accounts receivable, less allowance for doubtful accounts of $5,677 and $6,004 at June 30, 2015 and December 31, 2014, respectively	242,867	248,308
Trade receivable	3,870	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	72,157	87,730
Total current assets	405,206	370,826
Property and equipment, net	189,882	221,497
Broadcast licenses	1,593,939	1,596,715
Other intangible assets, net	209,046	243,640
Goodwill	1,253,065	1,253,823
Other assets	56,490	58,940
Total assets	3,707,628	3,745,441
Current liabilities:
Accounts payable and accrued expenses	117,486	151,658
Trade payable	4,687	3,964
Total current liabilities	122,173	155,622
Long-term debt, excluding 7.75% senior notes	1,877,239	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	49,199	55,121
Deferred income taxes	499,502	507,991
Total liabilities	$ 3,158,113	$ 3,203,861
Commitments and Contingencies (Note 11)
Stockholders’ equity:
Treasury stock, at cost, 22,395,642 and 22,619,554 shares at June 30, 2015 and December 31, 2014, respectively	$ (229,198)	$ (231,588)
Additional paid-in-capital	1,606,220	1,600,963
Accumulated deficit	(830,066)	(830,350)
Total stockholders’ equity	549,515	541,580
Total liabilities and stockholders’ equity	3,707,628	3,745,441
Class A common stock
Stockholders’ equity:
Common stock	2,553	2,549
Class C common stock
Stockholders’ equity:
Common stock	$ 6	$ 6

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	May. 13, 2011
Condensed Financial Statements, Captions [Line Items]
Allowance for doubtful accounts	$ 5,677	$ 6,004
Treasury stock, shares	22,395,642	22,619,554
Class A common stock
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	255,443,945	254,997,925
Common stock, shares outstanding	233,048,303	232,378,371
Class C common stock
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	644,871	644,871
Common stock, shares issued	644,871	644,871
Common stock, shares outstanding	644,871	644,871
7.75% senior notes
Condensed Financial Statements, Captions [Line Items]
Interest on borrowings, per annum	7.75%	7.75%	7.75%

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net revenue	$ 299,334	$ 328,247	$ 570,413	$ 620,291
Operating expenses:
Content costs	91,019	101,802	191,826	210,295
Selling, general & administrative expenses	118,548	118,389	234,855	233,724
Depreciation and amortization	25,724	29,071	51,035	57,952
LMA fees	2,572	1,648	5,070	3,205
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	12,496	19,264	25,963	38,458
(Gain) loss on sale of assets or stations	(84)	(360)	735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056	0	1,056	0
Total operating expenses	251,331	269,814	510,540	542,736
Operating income	48,003	58,433	59,873	77,555
Non-operating (expense) income:
Interest expense	(35,412)	(36,468)	(70,396)	(72,733)
Interest income	27	342	385	672
Other income, net	12,373	3,593	12,757	3,529
Total non-operating expense, net	(23,012)	(32,533)	(57,254)	(68,532)
Income before income taxes	24,991	25,900	2,619	9,023
Income tax expense	(12,692)	(10,763)	(2,335)	(3,155)
Net income	$ 12,299	$ 15,137	$ 284	$ 5,868
Basic and diluted income per common share (see Note 9, “Earnings Per Share”):
Basic: Income per share	$ 0.05	$ 0.06	$ 0	$ 0.03
Diluted: Income per share	$ 0.05	$ 0.06	$ 0	$ 0.02
Weighted average basic common shares outstanding	233,278,660	224,456,934	233,202,282	220,104,481
Weighted average diluted common shares outstanding	233,486,283	229,069,397	233,452,205	226,180,298

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Stock-based compensation expense	$ 3,880	$ 4,154	$ 7,743	$ 8,245

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 284	$ 5,868
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	51,035	57,952
Amortization of debt issuance costs/discounts	4,712	4,654
Provision for doubtful accounts	2,417	1,828
Loss (gain) on sale of assets or stations	735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056	0
Fair value adjustment of derivative instruments	0	21
Deferred income taxes	2,847	3,155
Stock-based compensation expense	7,743	8,245
Changes in assets and liabilities:
Accounts receivable	3,016	9,334
Trade receivable	(1,415)	94
Prepaid expenses and other current assets	4,244	(8,311)
Other assets	(1,206)	(8,126)
Accounts payable and accrued expenses	(34,545)	(29,354)
Trade payable	723	405
Other liabilities	(5,922)	(3,362)
Net cash provided by operating activities	35,724	41,505
Cash flows from investing activities:
Restricted cash	1,634	(240)
Proceeds from sale of assets or stations	3,055	14,069
Capital expenditures	(14,860)	(11,248)
Net cash (used in) provided by investing activities	(10,171)	2,581
Cash flows from financing activities:
Repayment of borrowings under term loans and revolving credit facilities	0	(66,125)
Proceeds from borrowings under term loans and revolving credit facilities	0	10,000
Deferred financing costs	0	(21)
Tax withholding payments on behalf of employees	(93)	(1,320)
Proceeds from exercise of warrants	3	103
Proceeds from exercise of options	0	602
Net cash used in financing activities	(90)	(56,761)
Increase (decrease) in cash and cash equivalents	25,463	(12,675)
Cash and cash equivalents at beginning of period	7,271	32,792
Cash and cash equivalents at end of period	32,734	20,117
Supplemental disclosures of cash flow information:
Interest paid	64,320	68,877
Income taxes paid	2,883	10,191
Supplemental disclosures of non-cash flow information:
Trade revenue	17,562	16,582
Trade expense	17,022	17,225
Equity interest in Pulser Media Inc.
Supplemental disclosures of non-cash flow information:
Equity interest in Pulser Media Inc.	$ 2,025	$ 5,390

Description of Business, Interi

Description of Business, Interim Financial Data and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business, Interim Financial Data and Basis of Presentation	Description of Business, Interim Financial Data and Basis of Presentation: Description of Business Cumulus Media Inc. (and its consolidated subsidiaries, except as the context may otherwise require, “Cumulus,” “Cumulus Media,” “we,” “us,” “our,” or the “Company”) is a Delaware corporation, organized in 2002, and successor by merger to an Illinois corporation with the same name that had been organized in 1997. Nature of Business The Company combines high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands in order to deliver premium choices for listeners, provide substantial reach for advertisers and create opportunities for shareholders. As the largest pure-play radio broadcaster in the United States, the Company provides exclusive content that is fully distributed through approximately 460 owned and operated stations in 90 U.S. media markets, approximately 8,500 broadcast radio affiliates and numerous digital channels. The Company believes it is well-positioned in the widening digital audio space through a significant stake in the Rdio digital music service, featuring over 30 million songs on-demand in addition to custom playlists and exclusive curated channels. The Company is also the leading provider of country music and lifestyle content through its NASH brand, which serves country fans through radio programming, NASH magazine, concerts, licensed products and television/video. Interim Financial Data The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company and the notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . The accompanying unaudited condensed consolidated financial statements include the condensed consolidated accounts of Cumulus and its wholly-owned subsidiaries, with all intercompany balances and transactions eliminated in consolidation. The December 31, 2014 condensed balance sheet data was derived from audited financial statements. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal, recurring adjustments) necessary for a fair presentation of our results of operations for, and financial condition as of the end of, the interim periods have been made. The results of operations for the three and six months ended June 30, 2015 , the cash flows for the six months ended June 30, 2015 and the Company’s financial condition as of June 30, 2015 , are not necessarily indicative of the results of operations or cash flows that can be expected for, or the Company’s financial condition that can be expected as of the end of, any other interim period or for the fiscal year ending December 31, 2015 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including significant estimates related to bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, and, if applicable, purchase price allocation. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual amounts and results may differ materially from these estimates. Assets Held for Sale During the six months ended June 30, 2015, the Company entered into an agreement to sell certain land to a third party. The closing of the transaction is subject to various closing conditions, including a due diligence period. The land has been classified as held for sale in the unaudited condensed consolidated balance sheet at June 30, 2015. During the year ended December 31, 2014, the Company entered into an agreement to sell certain land and buildings to a third party of which the Company expects to close in the next twelve months. The identified assets have been classified as held for sale in the unaudited condensed consolidated balance sheets at June 30, 2015 and December 31, 2014. The estimated fair value of the land and buildings for both sales are in excess of the carrying value. Insurance Recoveries During the three months ended June 30, 2015 , the Company recorded $14.6 million of insurance proceeds related to a business interruption claim arising from Hurricane Katrina in 2005. Of the $14.6 million proceeds, $11.6 million was received during the quarter and the remainder was received in July 2015. The Company recorded $12.4 million in other income, net and $2.2 million as an offset to corporate expenses in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2015 . Adoption of New Accounting Standards ASU 2014-08 . In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-08. Under this ASU, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. This ASU (1) expands the disclosure requirements for disposals that meet the definition of a discontinued operation, (2) requires entities to disclose information about disposals of individually significant components, (3) defines “discontinued operations” similarly to how it is defined under International Financial Reporting Standards 5, and (4) requires entities to expand their disclosures about discontinued operations to include more information about assets, liabilities, income and expenses. In addition, this ASU also requires entities to disclose the pre-tax income attributable to a disposal of “an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements.” The Company adopted this guidance effective January 1, 2015. The adoption of this guidance did not have an impact on the consolidated financial statements. Recent Accounting Standards Updates ASU 2014-09 . In May 2014, the FASB issued ASU 2014-09. The amended guidance under this ASU outlines a single comprehensive revenue model for entities to use in accounting for revenue arising from contracts with customers. The guidance supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the single comprehensive revenue model is that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” Entities have the option of using either a full retrospective or modified approach to adopt the guidance. This ASU was originally intended to be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. In July 2015, the FASB voted to approve a one-year deferral of the effective date of this ASU. Transition to the new guidance may be done using either a full or modified retrospective method. The Company is currently assessing the expected impact that this ASU will have on the consolidated financial statements. ASU 2014-15. In August 2014, the FASB issued ASU 2014-15. The amendments in this update provide guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this ASU are effective for public and nonpublic entities for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements. ASU 2015-01. In January 2015, the FASB issued ASU 2015-01. The amendments in this ASU eliminate the concept of an extraordinary item from GAAP. As a result, an entity will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU will still retain the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The ASU will be effective for fiscal years beginning after December 15, 2015 and subsequent interim periods. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements. ASU 2015-02 . In February 2015, the FASB issued ASU 2015-02. The amendments in this ASU provide modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. The ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-03. In April 2015, the FASB issued ASU 2015-03. The amendments in this ASU requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of long-term debt, consistent with debt discounts or premiums. Presently, debt issuance costs are reported as an asset. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The ASU will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The new guidance would be applied retrospectively to all prior reporting periods presented. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-05. In April 2015, the FASB issued ASU 2015-05. The amendments in this ASU provide guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the entity should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. The new guidance does not change an entity’s accounting for service contracts. This ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-10 . In June 2015, the FASB issued ASU 2015-10 . The amendments in this ASU are intended to clarify the FASB Accounting Standards Codification (the "ASC"); correct unintended application of guidance; eliminate inconsistencies; and to improve the ASC’s presentation of guidance. This ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2015
Business Combinations, Discontinued Operations and Disposal Groups [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions 2014 Acquisitions and Dispositions Country Weekly Acquisition On November 7, 2014, the Company completed the purchase of Country Weekly magazine and its related business (“Country Weekly”) for $3.0 million in cash (the "Country Weekly Acquisition"). The Company had previously included NASH branded inserts into the Country Weekly publication. Wise Brothers Acquisition On August 1, 2014, the Company completed the purchase of Wise Brother Media, Inc. for $5.5 million in cash (the "Wise Brothers Acquisition"). Revenues attributable to the assets acquired in the Wise Brothers Acquisition were not material to the Company’s condensed consolidated statement of operations for the year ended December 31, 2014 . The table below summarizes the final purchase price allocation in the Wise Brothers Acquisition (dollars in thousands): Allocation Amount Property and equipment $ 50 Deferred income taxes 100 Other intangible assets 5,025 Goodwill 475 Current liabilities (75 ) Other liabilities (75 ) Total purchase price $ 5,500 The definite-lived intangible assets acquired in the Wise Brothers Acquisition are being amortized in relation to the expected economic benefits of such assets over their estimated useful lives and consist of the following (dollars in thousands): Description Estimated Useful Life in Years Fair Value Other intangibles - programming content 4 $ 5,025 Pro forma financial information for the Country Weekly Acquisition and Wise Brothers Acquisition is not required, as such information is not material to the Company's financial statements.

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash As of June 30, 2015 and December 31, 2014 , the Company’s balance sheet included approximately $8.4 million and $10.1 million , respectively, in restricted cash, of which $0.6 million at each date relates to securing the maximum exposure generated by automated clearinghouse transactions in the Company's operating bank accounts and as dictated by the Company's bank's internal policies with respect to cash. In addition, at June 30, 2015 and December 31, 2014 , the Company held $7.8 million and $9.5 million , respectively, relating to collateralizing standby letters of credit pertaining to certain leases and insurance policies.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following table presents the changes in intangible assets, other than goodwill, during the periods from January 1, 2014 to December 31, 2014 and January 1, 2015 to June 30, 2015 , and balances as of such dates (dollars in thousands): Indefinite-Lived Definite-Lived Total Intangible Assets: Balance as of January 1, 2014 $ 1,596,337 $ 315,490 $ 1,911,827 Purchase price allocation adjustments 963 — 963 Acquisitions — 8,205 8,205 Dispositions (585 ) (74 ) (659 ) Amortization — (79,981 ) (79,981 ) Balance as of December 31, 2014 1,596,715 243,640 1,840,355 Dispositions (2,776 ) — (2,776 ) Amortization — (34,594 ) (34,594 ) Balance as of June 30, 2015 $ 1,593,939 $ 209,046 $ 1,802,985 The following table presents the changes in goodwill and accumulated impairment losses during the periods from January 1, 2015 to June 30, 2015 and January 1, 2014 to June 30, 2014 , and balances as of such dates (dollars in thousands): Goodwill: 2015 2014 Balance as of January 1: Goodwill $ 1,583,564 $ 1,586,482 Accumulated impairment losses (329,741 ) (329,741 ) Subtotal 1,253,823 1,256,741 Purchase price allocation adjustments 371 (726 ) Disposition (1,129 ) — Balance as of June 30: Goodwill 1,582,806 1,585,756 Accumulated impairment losses (329,741 ) (329,741 ) Total $ 1,253,065 $ 1,256,015 The Company has significant intangible assets recorded comprised primarily of broadcast licenses and goodwill acquired through acquisitions. The Company performs its annual impairment testing of broadcast licenses and goodwill during the fourth quarter and on an interim basis if events or circumstances indicate that broadcast licenses or goodwill may be impaired. The Company performs this test at the reporting unit level. The calculation of the fair value of each reporting unit is prepared using an income approach and discounted cash flow methodology. If the carrying value exceeds the estimate of fair value, the Company calculates impairment as the excess of the carrying value of goodwill over its estimated fair value and charges the impairment to results of operations in the period in which the impairment occurred. The Company reviews the carrying value of its definite-lived intangible assets for recoverability whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. As a result of certain developments in the Company's business, the Company performed an interim goodwill impairment assessment as of June 30, 2015 , based on the income approach for each of the Company's reporting units. The income approach provides an estimate of fair value based on discounted expected future cash flows. Based on the results of this interim goodwill impairment analysis, the Company determined that no impairment was required to be recorded for Reporting Units 1 or 2 as these reporting units passed the first step of goodwill impairment testing. However, the interim impairment test of the Company's goodwill indicated that the fair value of Reporting Unit 1 exceeded its carrying value by less than 10% . The percentage by which the fair value exceeded the carrying value of Reporting Unit 1 as of December 31, 2014 was approximately 30% . Reporting Unit 1 had indicated fair values of $1.9 billion and $2.5 billion as of June 30, 2015 and December 31, 2014 , respectively. Significant judgments required to estimate the fair value of reporting units include estimating future cash flows, near-term and long-term revenue growth, and determining appropriate discount rates, among other assumptions. Any adverse changes in these estimates and assumptions could result in materially different determinations of fair value, and could result in the Company recording goodwill impairment at a future reporting date, which charges could be material. In addition, if market conditions or operational performance of any of the Company's reporting units were to deteriorate, and there was no expectation that conditions or their performance would improve within a reasonable period of time, or if an event was to occur or circumstances change that would reduce the fair value of a reporting unit's goodwill below the amounts reflected in the balance sheet, the Company may be required to recognize an impairment charge in future periods, which could be material. There were no triggering events related to the Company's broadcast licenses as of June 30, 2015 to necessitate an interim impairment test.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consisted of the following as of June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Term Loan and Securitization Facility: Term loan $ 1,903,875 $ 1,903,875 Securitization facility — — Less: term loan discount (26,636 ) (28,748 ) Total Term Loan and Securitization Facility 1,877,239 1,875,127 7.75% senior notes 610,000 610,000 Less: Current portion of long-term debt — — Long-term debt, net $ 2,487,239 $ 2,485,127 Amended and Restated Credit Agreement On December 23, 2013, the Company entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), among the Company, Cumulus Media Holdings Inc., a direct wholly-owned subsidiary of the Company (“Cumulus Holdings”), as borrower, and certain lenders and agents. The Credit Agreement consists of a $2.025 billion term loan (the “Term Loan”) maturing in December 2020 and a $200.0 million revolving credit facility (the “Revolving Credit Facility”) maturing in December 2018. Under the Revolving Credit Facility, up to $30.0 million of availability may be drawn in the form of letters of credit. Term Loan borrowings and borrowings under the Revolving Credit Facility bear interest, at the option of Cumulus Holdings, based on the Base Rate (as defined below) or the London Interbank Offered Rate (“LIBOR”), in each case plus 3.25% on LIBOR-based borrowings and 2.25% on Base Rate-based borrowings. LIBOR-based borrowings are subject to a LIBOR floor of 1.0% under the Term Loan. Base Rate-based borrowings are subject to a Base Rate floor of 2.0% under the Term Loan. Base Rate is defined, for any day, as the fluctuating rate per annum equal to the highest of the (i) Federal Funds Rate, as published by the Federal Reserve Bank of New York, plus 1/2 of 1.0% , (ii) prime commercial lending rate of JPMorgan Chase Bank, N.A., as established from time to time, and (iii) 30 day LIBOR plus 1.0% . Amounts outstanding under the Term Loan amortize at a rate of 1.0% per annum of the original principal amount of the Term Loan, payable quarterly, with the balance payable on the maturity date. At June 30, 2015 , the Term Loan bore interest at 4.25% per annum. The representations, covenants and events of default in the Credit Agreement are customary for financing transactions of this nature. Events of default in the Credit Agreement include, among others: (a) the failure to pay when due the obligations owing thereunder; (b) the failure to comply with (and not timely remedy, if applicable) certain covenants; (c) certain defaults and accelerations under other indebtedness; (d) the occurrence of bankruptcy or insolvency events; (e) certain judgments against the Company or any of its restricted subsidiaries; (f) the loss, revocation or suspension of, or any material impairment in the ability to use one or more of, any material FCC licenses; (g) any representation or warranty made, or report, certificate or financial statement delivered, to the lenders subsequently proven to have been incorrect in any material respect; and (h) the occurrence of a Change in Control (as defined in the Credit Agreement). Upon the occurrence of an event of default, the lenders may terminate the loan commitments, accelerate all loans and exercise any of their rights under the Credit Agreement and the ancillary loan documents as a secured party. In the event amounts are outstanding under the Revolving Credit Facility or any letters of credit are outstanding that have not been collateralized by cash as of the end of each quarter, the Credit Agreement requires compliance with a consolidated first lien leverage ratio covenant. The required ratio at June 30, 2015 was 5.50 to 1, and the first lien net leverage ratio covenant periodically decreases until it reaches 4.0 to 1 on March 31, 2018. As the Company currently has no borrowings outstanding under the Revolving Credit Facility, the Company is not required to comply with such ratio. However, as of June 30, 2015 , the Company's leverage was greater than the required ratio and, as a result, the Company did not have access to borrowings under the Revolving Credit Facility. The Company will not regain access until the Company is able to satisfy the first lien ratio requirement that would permit such borrowings. Certain mandatory prepayments on the Term Loan are required upon the occurrence of specified events, including upon the incurrence of certain additional indebtedness, upon the sale of certain assets and upon the occurrence of certain condemnation or casualty events, and from excess cash flow. The Company’s, Cumulus Holdings’ and their respective restricted subsidiaries’ obligations under the Credit Agreement are collateralized by a first priority lien on substantially all of the Company’s, Cumulus Holdings’ and their respective restricted subsidiaries’ assets (excluding the Company’s accounts receivable collateralizing the Company's revolving accounts receivable securitization facility (the “Securitization Facility”) with General Electric Capital Corporation (“GE”) as described below) in which a security interest may lawfully be granted, including, without limitation, intellectual property and substantially all of the capital stock of the Company’s direct and indirect domestic wholly-owned subsidiaries and 66% of the capital stock of any future first-tier foreign subsidiaries. In addition, Cumulus Holdings’ obligations under the Credit Agreement are guaranteed by the Company and substantially all of its restricted subsidiaries, other than Cumulus Holdings. At June 30, 2015 and December 31, 2014 , the Company had $1.904 billion outstanding under the Term Loan and no amounts outstanding under the Revolving Credit Facility. 7.75% Senior Notes On May 13, 2011, the Company issued $610.0 million aggregate principal amount of its 7.75% Senior Notes due 2019 (the " 7.75% Senior Notes"). Proceeds from the sale of the 7.75% Senior Notes were used to, among other things, repay the $575.8 million outstanding under the term loan facility under the Company's prior credit agreement. On September 16, 2011, the Company and Cumulus Holdings entered into a supplemental indenture with the trustee under the indenture governing the 7.75% Senior Notes which provided for, among other things, the (i) assumption by Cumulus Holdings of all obligations of the Company; (ii) substitution of Cumulus Holdings for the Company as issuer; (iii) release of the Company from all obligations as original issuer; and (iv) Company’s guarantee of all of Cumulus Holdings’ obligations, in each case under the indenture and the 7.75% Senior Notes. Interest on the 7.75% Senior Notes is payable on each May 1 and November 1 of each year. The 7.75% Senior Notes mature on May 1, 2019 . Cumulus Holdings, as issuer of the 7.75% Senior Notes, may redeem all or part of the 7.75% Senior Notes at any time on or after May 1, 2015 at a price equal to 100% of the principal amount, plus a “make-whole” premium. If Cumulus Holdings sells certain assets or experiences specific kinds of changes in control, it will be required to make an offer to purchase the 7.75% Senior Notes. The indenture governing the 7.75% Senior Notes contains representations, covenants and events of default customary for financing transactions of this nature. At June 30, 2015 , the Company was in compliance with all required covenants under the indenture governing the 7.75% Senior Notes. In connection with the substitution of Cumulus Holdings as the issuer of the 7.75% Senior Notes, the Company has also guaranteed the 7.75% Senior Notes. In addition, each existing and future domestic restricted subsidiary that guarantees the Company’s indebtedness, Cumulus Holdings’ indebtedness or indebtedness of the Company’s subsidiary guarantors (other than the Company’s subsidiaries that hold the licenses for the Company’s radio stations) guarantees, and will guarantee, the 7.75% Senior Notes. The 7.75% Senior Notes are senior unsecured obligations of Cumulus Holdings and rank equally in right of payment to all existing and future senior unsecured debt of Cumulus Holdings and senior in right of payment to all future subordinated debt of Cumulus Holdings. The 7.75% Senior Notes guarantees are the Company’s and the other guarantors’ senior unsecured obligations and rank equally in right of payment to all of the Company’s and the other guarantors’ existing and future senior debt and senior in right of payment to all of the Company’s and the other guarantors’ future subordinated debt. The 7.75% Senior Notes and the guarantees are effectively subordinated to any of Cumulus Holdings’, the Company’s or the guarantors’ existing and future secured debt to the extent of the value of the assets securing such debt. In addition, the 7.75% Senior Notes and the guarantees are structurally subordinated to all indebtedness and other liabilities, including preferred stock, of the Company’s non-guarantor subsidiaries, including all of the liabilities of the Company’s and the guarantors’ foreign subsidiaries and the Company’s subsidiaries that hold the licenses for the Company’s radio stations. Accounts Receivable Securitization Facility On December 6, 2013, the Company entered into a 5 -year, $50.0 million Securitization Facility with GE, as a lender, as swingline lender and as administrative agent (together with any other lenders party thereto from time to time, the “Lenders”). In connection with the entry into the Securitization Facility, pursuant to a Receivables Sale and Servicing Agreement, dated as of December 6, 2013 (the “Sale Agreement”), certain subsidiaries of the Company (collectively, the “Originators”) may sell and/or contribute their existing and future accounts receivable (representing all of the Company’s accounts receivable) to a special purpose entity and wholly owned subsidiary of the Company (the “SPV”). The SPV may thereafter make borrowings from the Lenders, which borrowings will be secured by those receivables, pursuant to a Receivables Funding and Administration Agreement, dated as of December 6, 2013 (the “Funding Agreement”). Cumulus Holdings services the accounts receivable on behalf of the SPV. Advances available under the Funding Agreement at any time are subject to a borrowing base determined based on advance rates relating to the value of the eligible receivables held by the SPV at that time. The Securitization Facility matures on December 6, 2018, subject to earlier termination at the election of the SPV. Advances bear interest based on either LIBOR plus 2.50% or the Index Rate (as defined in the Funding Agreement) plus 1.00% . The SPV is also required to pay a monthly fee based on any unused portion of the Securitization Facility. The Securitization Facility contains representations and warranties, affirmative and negative covenants, and events of default that are customary for financings of this type. At June 30, 2015 and December 31, 2014 , there were no amounts outstanding under the Securitization Facility. For the three and six months ended June 30, 2015 , the Company recorded an aggregate of $2.4 million and $4.7 million of amortization of debt discount and debt issuance costs related to its Term Loan, 7.75% Senior Notes, and Securitization Facility, respectively. For the three and six months ended June 30, 2014 , the Company recorded an aggregate of $2.3 million and $4.7 million , of amortization of debt discount and debt issuance costs related to its Term Loan, 7.75% Senior Notes, and Securitization Facility, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The three levels of the fair value hierarchy to be applied to financial instruments when determining fair value are described below: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 — Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 — Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company’s financial assets and liabilities are measured at fair value on a recurring basis and non-financial assets and liabilities are measured at fair value on a non-recurring basis. Fair values as of June 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Fair Value Measurements at June 30, 2015 Using Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Equity interest in Pulser Media (1) $ 18,308 $ — $ — $ 18,308 Total assets $ 18,308 $ — $ — $ 18,308 Financial liabilities: Other current liabilities Contingent consideration (2) $ (181 ) $ — $ — $ (181 ) Total liabilities $ (181 ) $ — $ — $ (181 ) Fair Value Measurements at December 31, 2014 Using Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Equity interest in Pulser Media (1) $ 17,339 $ — $ — $ 17,339 Total assets $ 17,339 $ — $ — $ 17,339 Financial liabilities: Other current liabilities Contingent consideration (2) $ (181 ) $ — $ — $ (181 ) Total liabilities $ (181 ) $ — $ — $ (181 ) (1) On September 13, 2013, the Company and Pulser Media Inc. (the parent company of Rdio) ("Pulser"), entered into a five year strategic promotional partnership and sales arrangement (the "Rdio Agreement"). In exchange for $75 million of promotional commitments over five years, Cumulus will receive a 15% equity interest in Pulser, with the opportunity to earn additional equity, see Note 11, "Commitments and Contingencies". The fair value of the equity interest in Pulser was determined using a discounted cash flow model to arrive at an enterprise value and per share price for the investment which are inputs that are supported by little or no market activity (a Level 3 measurement). Due to the volatility in market conditions that have an impact on Pulser's operations, during the six months ended June 30, 2015 , the Company recognized an impairment charge of $1.1 million related to the decline in the fair value of the equity interest in Pulser. (2) Contingent consideration represents the fair value of the additional cash consideration potentially payable as part of the Wise Brothers Acquisition and the Company's 2013 asset exchange with Family Stations, Inc. (the "WFME Asset Exchange"). The fair value of the contingent consideration was determined using inputs that are supported by little or no market activity (a Level 3 measurement). The reconciliation below contains the components of the change in fair value associated with the equity interest in Pulser from January 1, 2015 to June 30, 2015 (dollars in thousands): Description Equity Interest in Pulser Fair value balance at January 1, 2015 $ 17,339 Add: Additions to equity interest in Pulser 2,025 Less: Impairment charge (1,056 ) Fair value balance at June 30, 2015 $ 18,308 The reconciliation below contains the components of the change in the continuing contingency associated with the contingent consideration from January 1, 2015 to June 30, 2015 (dollars in thousands): Description Contingent Consideration Fair value balance at January 1, 2015 $ (181 ) Mark to market adjustment — Fair value balance at June 30, 2015 $ (181 ) Quantitative information regarding the significant unobservable inputs related to the WFME Asset Exchange contingent consideration as of June 30, 2015 was as follows (dollars in thousands): Fair Value Valuation Technique Unobservable Inputs $ 31 Income Approach Total term 5 years Conditions 3 Bond equivalent yield discount rate 0.1 % Significant increases (decreases) in any of the inputs in isolation would result in a lower (higher) fair value measurement. Quantitative information regarding the significant unobservable inputs related to the Wise Brothers Acquisition contingent consideration as of June 30, 2015 was as follows (dollars in thousands): Fair Value Valuation Technique Unobservable Inputs $ 150 Income Approach Total term 2 years Conditions 4 Significant increases (decreases) in any of the inputs in isolation would result in a lower (higher) fair value measurement. The following table shows the gross amount and fair value of the Company’s Term Loan and 7.75% Senior Notes (dollars in thousands): June 30, 2015 December 31, 2014 Term Loan: Carrying value $ 1,903,875 $ 1,903,875 Fair value - Level 2 1,808,681 1,856,278 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value - Level 2 559,675 617,625 As of June 30, 2015 , the Company used trading prices of 95.00% to calculate the fair value of the Term Loan and 91.75% to calculate the fair value of the 7.75% Senior Notes. As of December 31, 2014 , the Company used trading prices of 97.50% to calculate the fair value of the Term Loan and 101.25% to calculate the fair value of the 7.75% Senior Notes.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The Company is authorized to issue an aggregate of 1,450,644,871 shares of stock divided into four classes consisting of: (i) 750,000,000 shares designated as Class A common stock, (ii) 600,000,000 shares designated as Class B common stock, (iii) 644,871 shares designated as Class C common stock and (iv) 100,000,000 shares of preferred stock, each with a par value of $0.01 per share. Common Stock Except with regard to voting and conversion rights, shares of Class A, Class B and Class C common stock are identical in all respects. The preferences, qualifications, limitations, restrictions, and the special or relative rights in respect of the common stock and the various classes of common stock are as follows: • Voting Rights. The holders of shares of Class A common stock are entitled to one vote per share on any matter submitted to a vote of the stockholders of the Company, and the holders of shares of Class C common stock are entitled to ten votes for each share of Class C common stock held. Generally, the holders of shares of Class B common stock are not entitled to vote on any matter. However, holders of Class B common stock and Class C common stock are entitled to a separate class vote on any amendment or modification of any specific rights or obligations of the holders of Class B common stock or Class C common stock, respectively, that does not similarly affect the rights or obligations of the holders of Class A common stock. The holders of Class A common stock and of Class C common stock vote together, as a single class, on all matters submitted to a vote to the stockholders of the Company. • Conversion. Each holder of Class B common stock and Class C common stock is entitled to convert at any time all or any part of such holder’s shares into an equal number of shares of Class A common stock; provided, however, that to the extent that such conversion would result in the holder holding more than 4.99% of the Class A common stock following such conversion, the holder will first be required to deliver to the Company an ownership certification to enable the Company to (a) determine that such holder does not have an attributable interest in another entity that would cause the Company to violate applicable FCC rules and regulations and (b) obtain any necessary approvals from the FCC or the Department of Justice. During the year ended December 31, 2014 , all of the approximately 15.4 million shares of outstanding Class B common stock were converted into shares of Class A common stock. After payment of dividends to the holders of any outstanding shares of Series B Preferred Stock, the holders of all classes of common stock are entitled to share ratably in any dividends that may be declared by the board of directors of the Company. 2009 Warrants In June 2009, in connection with the execution of an amendment to the Company's then-outstanding credit agreement, the Company issued warrants to the lenders thereunder that allow them to acquire up to 1.3 million shares of Class A common stock at an exercise price of $1.17 per share (the “2009 Warrants”). The 2009 Warrants expire on June 29, 2019. The number of shares of Class A common stock issuable upon exercise of the 2009 Warrants is subject to adjustment in certain circumstances, including upon the payment of a dividend in shares of Class A common stock. At June 30, 2015 , 0.4 million 2009 Warrants remained outstanding. Company Warrants As a component of the Company's September 16, 2011 acquisition of Citadel Broadcasting Corporation (the "Citadel Merger") and the related financing transactions, the Company issued warrants to purchase an aggregate of 71.7 million shares of Class A common stock (the "Company Warrants") under a warrant agreement dated September 16, 2011 (the "Warrant Agreement"). The Company Warrants are exercisable at any time prior to June 3, 2030 at an exercise price of $0.01 per share. The exercise price of the Company Warrants is not subject to any anti-dilution protection, other than standard adjustments in the case of stock splits, dividends and the like. Pursuant to the terms and conditions of the Warrant Agreement, upon the request of a holder, the Company has the discretion to issue, upon exercise of the Company Warrants, shares of Class B common stock in lieu of an equal number of shares of Class A common stock and, upon request of a holder and at the Company’s discretion, the Company has the right to exchange such warrants to purchase an equivalent number of shares of Class B common stock for outstanding warrants to purchase shares of Class A common stock. Conversion of the Company Warrants is subject to compliance with applicable FCC regulations, and the Company Warrants are exercisable provided that ownership of the Company’s securities by the holder does not cause the Company to violate applicable FCC rules and regulations relating to foreign ownership of broadcasting licenses. Holders of Company Warrants are entitled to participate ratably in any distributions on the Company’s common stock on an as-exercised basis. No distribution will be made to holders of Company Warrants or common stock if (i) an FCC ruling, regulation or policy prohibits such distribution to holders of Company Warrants or (ii) the Company’s FCC counsel opines that such distribution is reasonably likely to cause (a) the Company to violate any applicable FCC rules or regulations or (b) any holder of Company Warrants to be deemed to hold an attributable interest in the Company. During the three and six months ended June 30, 2015 , approximately 0.2 million and 0.5 million Company Warrants, respectively, were converted into shares of Class A common stock. At June 30, 2015 , approximately 1.0 million Company Warrants remained outstanding. Crestview Warrants Also on September 16, 2011, but pursuant to a separate warrant agreement, the Company issued warrants to purchase 7.8 million shares of Class A common stock with an exercise price, as adjusted to date, of $4.34 per share (the "Crestview Warrants"). The Crestview Warrants are exercisable until September 16, 2021, and the per share exercise price is subject to standard weighted average adjustments in the event that the Company issues additional shares of common stock or common stock derivatives for less than the fair market value per share, as defined in the Crestview Warrants, as of the date of such issuance. In addition, the number of shares of Class A common stock issuable upon exercise of the Crestview Warrants, and the exercise price of the Crestview Warrants, are subject to adjustment in the case of stock splits, dividends and the like. As of June 30, 2015 , all 7.8 million Crestview Warrants remained outstanding.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense On February 16, 2012, the Company granted time-vesting stock options to purchase 1.4 million shares of Class A common stock to certain Company employees, with an aggregate grant date fair value of $3.3 million . The options have an exercise price of $4.34 per share, with 30% of the awards having vested on each of September 16, 2012 and February 16, 2013, and 20% having vested on each of February 16, 2014 and February 16, 2015. On December 27, 2012, the Company issued stock options to an officer of the Company exercisable for 0.8 million shares of Class A common stock with an aggregate grant date fair value of $1.1 million . The options have an exercise price of $4.34 per share, and provide for vesting on each of the first four anniversaries of the date of grant, with 30% of the award having vested on each of the first two anniversaries thereof, and 20% of the award vesting on each of the next two anniversaries thereof. On May 22, 2014, the Company granted 93,312 shares of time-vesting restricted Class A common stock, with an aggregate grant fair value of $0.6 million , to the non-employee directors of the Company with a cliff vesting term of one year. On May 14, 2015, the Company granted 242,916 shares of time-vesting restricted Class A common stock, with an aggregate grant fair value of $0.6 million , to the non-employee directors of the Company with a cliff vesting term of one year. During the six months ended June 30, 2015 , the Company granted 625,000 stock options with an aggregate grant date fair value of $1.1 million . During the six months ended June 30, 2014 , the Company granted 350,000 stock options with an aggregate grant date fair value of $1.7 million . The options range in exercise price from $2.49 to $7.74 per share, and provide for vesting on each of the first four anniversaries of the date of grant, with 30% of the award vesting on each of the first two anniversaries thereof, and 20% of the award vesting on each of the next two anniversaries thereof. For the three and six months ended June 30, 2015 , and 2014 , the Company recognized approximately $3.9 million , $7.7 million , $4.2 million and $8.2 million respectively, in stock-based compensation expense related to equity awards. As of June 30, 2015 , unrecognized stock-based compensation expense of approximately $19.5 million related to equity awards is expected to be recognized over a weighted average remaining life of 2.32 years. Unrecognized stock-based compensation expense for equity awards will be adjusted for future changes in estimated forfeitures. The total fair value of restricted stock awards that vested during the three and six months ended June 30, 2015 was $0.2 million and $0.5 million , respectively. The total fair value of restricted stock awards that vested during the three and six months ended June 30, 2014 was $1.1 million and $2.1 million , respectively. There were no stock options exercised during the six months ended June 30, 2015 and 1.2 million stock options were exercised during the six months ended June 30, 2014 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For all periods presented, the Company has disclosed basic and diluted earnings per common share utilizing the two-class method. Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. In accordance with the terms of the Company's certificate of incorporation, the Company allocates undistributed net income after any allocation for preferred stock dividends between each class of common stock on an equal basis. Non-vested restricted shares of Class A common stock and the Company Warrants are considered participating securities for purposes of calculating basic weighted average common shares outstanding in periods in which the Company records net income. Diluted earnings per share is computed in the same manner as basic earnings per share after assuming issuance of common stock for all potentially dilutive equivalent shares, which includes stock options and certain other warrants to purchase common stock. Antidilutive instruments are not considered in this calculation. Under the two-class method, net income is allocated to common stock and participating securities to the extent that each security may share in earnings, as if all of the earnings (loss) for the period had been distributed. Earnings are allocated to each participating security and common shares equally. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2015 and 2014 (amounts in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic Income Per Share Numerator: Undistributed net income from continuing operations $ 12,299 $ 15,137 $ 284 $ 5,868 Less: Participation rights of the Company Warrants in undistributed earnings 57 573 1 306 Participation rights of unvested restricted stock in undistributed earnings 10 13 — 7 Basic undistributed net income attributable to common shares $ 12,232 $ 14,551 $ 283 $ 5,555 Denominator: Basic weighted average shares outstanding 233,279 224,457 233,202 220,104 Basic undistributed net income per share attributable to common shares $0.05 $0.06 $0.00 $0.03 Diluted Income Per Share: Numerator: Undistributed net income from continuing operations $ 12,299 $ 15,137 $ 284 $ 5,868 Less: Participation rights of the Company Warrants in undistributed net earnings 57 562 1 298 Participation rights of unvested restricted stock in undistributed earnings 10 13 — 7 Basic undistributed net income attributable to common shares $ 12,232 $ 14,562 $ 283 $ 5,563 Denominator: Basic weighted average shares outstanding 233,279 224,457 233,202 220,104 Effect of dilutive stock options and warrants 207 4,612 250 6,076 Diluted weighted average shares outstanding 233,486 229,069 233,452 226,180 Diluted undistributed net income per share attributable to common shares $0.05 $0.06 $0.00 $0.02

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2015 , the Company recorded income tax expense of $12.7 million on pre-tax income of $25.0 million , resulting in an effective tax rate for the three months ended June 30, 2015 of approximately 50.8% . For the three months ended June 30, 2014 , the Company recorded income tax expense of $10.8 million on pre-tax income of $25.9 million , resulting in an effective tax rate for the three months ended June 30, 2014 of approximately 41.7% . For the six months ended June 30, 2015 , the Company recorded an income tax expense of $2.3 million on a pre-tax income of $2.6 million , resulting in an effective tax rate for the six months ended June 30, 2015 of approximately 88.5% . For the six months ended June 30, 2014 , the Company recorded income tax expense of $3.2 million on pre-tax income of $9.0 million , resulting in an effective tax rate for the six months ended June 30, 2014 of approximately 35.6% . The difference between the effective tax rate and the federal statutory rate of 35.0% for both the three and six months ended June 30, 2015 primarily relates to state and local income taxes, an increase in the valuation allowance with respect to state net operating losses, the tax effect of certain statutory non deductible items, the settlement of uncertain tax positions with the tax authorities and enacted changes to state and local tax laws. The difference between the effective tax rate and the federal statutory rate of 35.0% for both the three and six months ended June 30, 2014 , primarily relates to state and local income taxes, an increase in the valuation allowance with respect to state net operating losses and the tax effect of certain statutory non deductible items. The Company continually reviews the adequacy of the valuation allowance and recognizes the benefits of deferred tax assets only as the reassessment indicates that it is more likely than not that the deferred tax assets will be recognized in accordance with ASC Topic 740, Income Taxes ("ASC 740"). As of June 30, 2015 , the Company continues to maintain a partial valuation allowance on certain state net operating loss carryforwards for which the Company does not believe they will be able to meet the more likely than not recognition standard for recovery. The valuation of deferred tax assets requires judgment in assessing the likely future tax consequences of events that have been recognized in the Company's financial statements or tax returns as well as future profitability. We believe our annual effective tax rate before discrete items for fiscal year 2015 will be approximately 44.5% . The difference between the annual estimated effective tax rate and the federal statutory rate of 35% primarily relates to state tax expense and the forecasted increase to the valuation allowance on certain forecasted state net operating losses in 2015. We continue to evaluate tax planning alternatives to recover some or all of our state net operating losses which would reduce our estimated overall annual effective tax rate. The tax effects of adopting any potential tax planning alternatives will be reflected in the financial statements in the period of adoption.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Future Commitments The radio broadcast industry’s principal ratings service is Nielsen Audio, which publishes surveys for domestic radio markets. Certain of the Company’s subsidiaries have agreements with Nielsen Audio under which they receive programming ratings materials in a majority of their respective markets. The remaining aggregate obligation under the agreements with Nielsen Audio is approximately $122.7 million and is expected to be paid in accordance with the agreements through December 2017. The Company engages Katz Media Group, Inc. (“Katz”) as its national advertising sales agent. The national advertising agency contract with Katz contains termination provisions that, if exercised by the Company during the term of the contract, would obligate the Company to pay a termination fee to Katz, calculated based upon a formula set forth in the contract. On September 13, 2013, the Company and Pulser entered into the Rdio Agreement which provides that Cumulus will act as the exclusive promotional agent for Rdio ad products, including display, mobile, in-line audio, synced banners and other digital inventory that may become available from time to time. In exchange for $75.0 million of promotional commitments over five years, Cumulus will receive 15% of the equity interests of Pulser, with the opportunity to earn additional equity in the form of warrants based on the achievement of certain performance milestones over the term of the Rdio Agreement. The Company records the equity received for services at fair value over the term of the agreement, and evaluates the investment for impairment in each period. The Company is committed under various contractual agreements to pay for broadcast rights that include news services and to pay for executives, talent, research, weather and other services. The Company from time to time enters into radio network contractual obligations to guarantee a minimum amount of revenue share to contractual counterparties on certain programming in future years. Generally, these guarantees are subject to decreases dependent on clearance targets achieved. As of June 30, 2015 , the Company believes that it will meet such minimum obligations. On January 2, 2014 (the "Commencement Date”), Merlin Media, LLC (“Merlin”) and the Company entered into an LMA. Under this LMA, the Company is responsible for operating two FM radio stations in Chicago, Illinois, for remaining monthly fees payable to Merlin of approximately $0.4 million , $0.5 million and $0.6 million in the second, third and fourth years following the Commencement Date, respectively, in exchange for the Company retaining the operating profits from these radio stations. In connection therewith, the Company and Merlin also entered into an agreement pursuant to which the Company has the right to purchase these two FM radio stations until October 4, 2017, for an amount in cash equal to the greater of (i) $70.0 million minus the aggregate amount of monthly fees paid by the Company on or prior to the earlier of the closing date or the date that is four years after the Commencement Date; or (ii) $50.0 million , and Merlin has the right to require the Company to purchase these two FM radio stations at any time during a ten -day period commencing October 4, 2017 for $71.0 million , minus the aggregate amount of monthly fees paid by the Company on or prior to the earlier of the closing date and January 2, 2018. The Company determined through its review of the requirements of ASC Topic 810, Consolidation ("ASC 810") that the Company is not the primary beneficiary of the LMA with Merlin, and, therefore consolidation of the stations is not required. On April 1, 2014, the Company initiated an exit plan for a lease due to a restructuring in connection with the acquisition of WestwoodOne (the "Exit Plan"), which includes charges related to terminated contract costs. As of June 30, 2015 , liabilities related to the Exit Plan of $0.4 million were included in accounts payable and accrued expenses and are expected to be paid within one year and $4.1 million of non-current liabilities are included in other liabilities in the condensed consolidated balance sheet. We anticipate no additional future charges for the Exit Plan other than true-ups to closed facilities lease charges and accretion expense. On April 25, 2014, the Company entered into an LMA with Universal Media Access, LLC “(Universal”) pursuant to which the Company is responsible for operating one FM radio station serving San Jose and San Francisco, California for a fixed fee to Universal of approximately $1.4 million each year for two years in exchange for the Company retaining the operating profits from this radio station. In connection therewith, the Company and Universal also entered into an agreement pursuant to which the Company has the right to purchase the radio station at any time until April 5, 2016 for $14.8 million minus the aggregate amount of monthly LMA fees paid by the Company on or prior to the earlier of the closing date or October 25, 2015. In addition, Universal has the right to require the Company to purchase the station at any time during a ten -day period commencing April 5, 2016 for $14.8 million , minus the aggregate amount of fees paid by the Company on or prior to the earlier of the closing date and April 25, 2016. The Company determined through its review of the requirements of ASC 810 that the Company is not the primary beneficiary of the LMA with Universal, and, therefore consolidation of the station is not required. The Company may be required to pay additional cash consideration in connection with the WFME Asset Exchange in New York and the Wise Brothers Acquisition. In addition, as a component of the Country Weekly Acquisition, the Company entered into an agreement with one of the sellers to collaborate on the production, publication and distribution of Country Weekly for a fee of $1.0 million for a period of 6 years from date of the Country Weekly Acquisition. Legal Proceedings We are currently party to, or a defendant in, various claims or lawsuits that are generally incidental to our business. We also expect that from time to time in the future we will be party to, or a defendant in, various claims or lawsuits that are generally incidental to our business. We expect that we will vigorously contest any such claims or lawsuits and believe that the ultimate resolution of any known claim or lawsuit will not have a material adverse effect on our consolidated financial position, results of operations or cash flows.

Supplemental Condensed Consolid

Supplemental Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Condensed Consolidating Financial Information	Supplemental Condensed Consolidating Financial Information At June 30, 2015 , Cumulus (the "Parent Guarantor") and certain of its 100% owned subsidiaries (such subsidiaries, the “Subsidiary Guarantors”) provided guarantees of the obligations of Cumulus Holdings (the "Subsidiary Issuer") under the 7.75% Senior Notes. These guarantees are full and unconditional (subject to customary release provisions) as well as joint and several. Certain of the Subsidiary Guarantors may be subject to restrictions on their respective ability to distribute earnings to Cumulus Holdings or the Parent Guarantor. Not all of the subsidiaries of Cumulus and Cumulus Holdings guarantee the 7.75% Senior Notes (such non-guaranteeing subsidiaries, collectively, the “Subsidiary Non-guarantors”). The following tables present (i) unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 , (ii) unaudited condensed consolidated balance sheets as of June 30, 2015 and December 31, 2014 , and (iii) unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2015 and 2014 , of each of the Parent Guarantor, Cumulus Holdings, the Subsidiary Guarantors, and the Subsidiary Non-guarantors. Investments in consolidated subsidiaries are held primarily by the Parent Guarantor in the net assets of its subsidiaries and have been presented using the equity method of accounting. The “Eliminations” entries in the following tables primarily eliminate investments in subsidiaries and intercompany balances and transactions. The columnar presentations in the following tables are not consistent with the Company’s business groups; accordingly, this basis of presentation is not intended to present the Company’s financial condition, results of operations or cash flows on a consolidated basis. CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 125 $ 299,209 $ — $ — $ 299,334 Operating expenses: Content costs — — 91,019 — — 91,019 Selling, general & administrative expenses — — 118,017 531 — 118,548 Depreciation and amortization — 356 25,368 — — 25,724 LMA fees — — 2,572 — — 2,572 Corporate expenses (including stock-based compensation expense of $3,880) — 12,496 — — — 12,496 Gain on sale of assets or stations — — (84 ) — — (84 ) Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Total operating expenses — 12,852 237,948 531 — 251,331 Operating (loss) income — (12,727 ) 61,261 (531 ) — 48,003 Non-operating (expense) income: Interest (expense) income, net (2,184 ) (33,181 ) 27 (47 ) — (35,385 ) Other income, net — — 12,373 — — 12,373 Total non-operating (expense) income, net (2,184 ) (33,181 ) 12,400 (47 ) — (23,012 ) (Loss) income before income taxes (2,184 ) (45,908 ) 73,661 (578 ) — 24,991 Income tax benefit (expense) 867 23,164 (29,248 ) (7,475 ) — (12,692 ) (Loss) income from continuing operations (1,317 ) (22,744 ) 44,413 (8,053 ) — 12,299 Earnings (loss) from consolidated subsidiaries 13,616 36,360 (8,053 ) — (41,923 ) — Net income (loss) $ 12,299 $ 13,616 $ 36,360 $ (8,053 ) $ (41,923 ) $ 12,299 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Six Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 250 $ 570,163 $ — $ — $ 570,413 Operating expenses: Content costs — — 191,826 — — 191,826 Selling, general & administrative expenses — — 233,794 1,061 — 234,855 Depreciation and amortization — 616 50,419 — — 51,035 LMA fees — — 5,070 — — 5,070 Corporate expenses (including stock-based compensation expense of $7,743) — 25,963 — — — 25,963 Loss on sale of assets or stations — — 735 — — 735 Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Total operating expenses — 26,579 482,900 1,061 — 510,540 Operating (loss) income — (26,329 ) 87,263 (1,061 ) — 59,873 Non-operating (expense) income: Interest (expense) income, net (4,367 ) (65,934 ) 385 (95 ) — (70,011 ) Other income, net — — 12,757 — — 12,757 Total non-operating (expense) income, net (4,367 ) (65,934 ) 13,142 (95 ) — (57,254 ) (Loss) income before income taxes (4,367 ) (92,263 ) 100,405 (1,156 ) — 2,619 Income tax benefit (expense) 1,734 51,406 (39,865 ) (15,610 ) — (2,335 ) (Loss) income from continuing operations (2,633 ) (40,857 ) 60,540 (16,766 ) — 284 Earnings (loss) from consolidated subsidiaries 2,917 43,774 (16,766 ) — (29,925 ) — Net income (loss) $ 284 $ 2,917 $ 43,774 $ (16,766 ) $ (29,925 ) $ 284 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 125 $ 328,122 $ — $ — $ 328,247 Operating expenses: Content costs — — 101,802 — — 101,802 Selling, general & administrative expenses — — 117,837 552 — 118,389 Depreciation and amortization — 459 28,612 — — 29,071 LMA fees — — 1,648 — — 1,648 Corporate expenses (including stock-based compensation expense of $4,154) — 19,264 — — — 19,264 Gain on sale of assets or stations — — (360 ) — — (360 ) Total operating expenses — 19,723 249,539 552 — 269,814 Operating (loss) income — (19,598 ) 78,583 (552 ) — 58,433 Non-operating (expense) income: Interest (expense) income, net (2,406 ) (33,987 ) 342 (75 ) — (36,126 ) Other income, net — — 3,593 — — 3,593 Total non-operating (expense) income, net (2,406 ) (33,987 ) 3,935 (75 ) — (32,533 ) (Loss) income before income taxes (2,406 ) (53,585 ) 82,518 (627 ) — 25,900 Income tax benefit (expense) 799 18,253 (30,070 ) 255 — (10,763 ) (Loss) income from continuing operations (1,607 ) (35,332 ) 52,448 (372 ) — 15,137 Earnings (loss) from consolidated subsidiaries 16,744 52,076 (372 ) — (68,448 ) — Net income (loss) $ 15,137 $ 16,744 $ 52,076 $ (372 ) $ (68,448 ) $ 15,137 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Six Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 229 $ 620,062 $ — $ — $ 620,291 Operating expenses: Content costs — — 210,295 — — 210,295 Selling, general & administrative expenses — — 232,581 1,143 — 233,724 Depreciation and amortization — 917 57,035 — — 57,952 LMA fees — — 3,205 — — 3,205 Corporate expenses (including stock-based compensation expense of $8,245) — 38,458 — — — 38,458 Gain on sale of assets or stations — — (898 ) — — (898 ) Total operating expenses — 39,375 502,218 1,143 — 542,736 Operating (loss) income — (39,146 ) 117,844 (1,143 ) — 77,555 Non-operating (expense) income: Interest (expense) income, net (4,981 ) (67,583 ) 672 (169 ) — (72,061 ) Other income, net — — 3,529 — — 3,529 Total non-operating (expense) income, net (4,981 ) (67,583 ) 4,201 (169 ) — (68,532 ) (Loss) income before income taxes (4,981 ) (106,729 ) 122,045 (1,312 ) — 9,023 Income tax benefit (expense) 1,741 37,314 (42,669 ) 459 — (3,155 ) (Loss) income from continuing operations (3,240 ) (69,415 ) 79,376 (853 ) — 5,868 Earnings (loss) from consolidated subsidiaries 9,108 78,523 (853 ) — (86,778 ) — Net income (loss) $ 5,868 $ 9,108 $ 78,523 $ (853 ) $ (86,778 ) $ 5,868 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2015 (Dollars in thousands, except for share and per share data) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Assets Current assets: Cash and cash equivalents $ — $ 32,734 $ — $ — $ — $ 32,734 Restricted cash — 8,421 — — — 8,421 Accounts receivable, less allowance for doubtful accounts of $5,677 — — — 242,867 — 242,867 Trade receivable — — 3,870 — — 3,870 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 49,053 23,104 — — 72,157 Total current assets — 90,208 72,131 242,867 — 405,206 Property and equipment, net — 3,553 186,329 — — 189,882 Broadcast licenses — — — 1,593,939 — 1,593,939 Other intangible assets, net — — 209,046 — — 209,046 Goodwill — — 1,253,065 — — 1,253,065 Investment in consolidated subsidiaries 639,666 4,246,683 1,079,019 — (5,965,368 ) — Intercompany receivables, net — 90,800 1,545,389 — (1,636,189 ) — Other assets — 30,335 40,924 649 (15,418 ) 56,490 Total assets $ 639,666 $ 4,461,579 $ 4,385,903 $ 1,837,455 $ (7,616,975 ) $ 3,707,628 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 27,796 $ 89,690 $ — $ — $ 117,486 Trade payable — — 4,687 — — 4,687 Total current liabilities — 27,796 94,377 — — 122,173 Long-term debt, excluding 7.75% Senior Notes — 1,877,239 — — — 1,877,239 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 4,356 44,843 — — 49,199 Intercompany payables, net 90,151 1,302,522 — 243,516 (1,636,189 ) — Deferred income taxes — — — 514,920 (15,418 ) 499,502 Total liabilities 90,151 3,821,913 139,220 758,436 (1,651,607 ) 3,158,113 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 255,443,945 shares issued and 233,048,303 shares outstanding 2,553 — — — — 2,553 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,395,642 shares (229,198 ) — — — — (229,198 ) Additional paid-in-capital 1,606,220 253,619 4,212,541 2,070,972 (6,537,132 ) 1,606,220 Accumulated (deficit) equity (830,066 ) 386,047 34,142 (991,953 ) 571,764 (830,066 ) Total stockholders’ equity (deficit) 549,515 639,666 4,246,683 1,079,019 (5,965,368 ) 549,515 Total liabilities and stockholders’ equity (deficit) $ 639,666 $ 4,461,579 $ 4,385,903 $ 1,837,455 $ (7,616,975 ) $ 3,707,628 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2014 (Dollars in thousands, except for share and per share data) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Assets Current assets: Cash and cash equivalents $ — $ 7,268 $ 3 $ — $ — $ 7,271 Restricted cash — 10,055 — — — 10,055 Accounts receivable, less allowance for doubtful accounts of $6,004 — — — 248,308 — 248,308 Trade receivable — — 2,455 — — 2,455 Asset held for sale — — 15,007 — — 15,007 Prepaid expenses and other current assets — 66,020 21,710 — — 87,730 Total current assets — 83,343 39,175 248,308 — 370,826 Property and equipment, net — 2,653 218,844 — — 221,497 Broadcast licenses — — — 1,596,715 — 1,596,715 Other intangible assets, net — — 243,640 — — 243,640 Goodwill — — 1,253,823 — — 1,253,823 Investment in consolidated subsidiaries 627,363 4,154,147 1,097,404 — (5,878,914 ) — Intercompany receivables, net — 86,527 1,462,776 — (1,549,303 ) — Other assets — 32,776 25,420 744 — 58,940 Total assets $ 627,363 $ 4,359,446 $ 4,341,082 $ 1,845,767 $ (7,428,217 ) $ 3,745,441 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 30,322 $ 121,336 $ — $ — $ 151,658 Trade payable — — 3,964 — — 3,964 Total current liabilities — 30,322 125,300 — — 155,622 Long-term debt, excluding 7.75% Senior Notes — 1,875,127 — — — 1,875,127 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 2,166 52,955 — — 55,121 Intercompany payables, net 85,783 1,214,468 — 249,052 (1,549,303 ) — Deferred income taxes — — 8,680 499,311 — 507,991 Total liabilities 85,783 3,732,083 186,935 748,363 (1,549,303 ) 3,203,861 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 254,997,925 shares issued and 232,378,371 shares outstanding 2,549 — — — — 2,549 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,619,554 shares (231,588 ) — — — — (231,588 ) Additional paid-in-capital 1,600,963 244,233 4,163,779 2,072,591 (6,480,603 ) 1,600,963 Accumulated (deficit) equity (830,350 ) 383,130 (9,632 ) (975,187 ) 601,689 (830,350 ) Total stockholders’ equity (deficit) 541,580 627,363 4,154,147 1,097,404 (5,878,914 ) 541,580 Total liabilities and stockholders’ equity (deficit) $ 627,363 $ 4,359,446 $ 4,341,082 $ 1,845,767 $ (7,428,217 ) $ 3,745,441 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Cash flows from operating activities: Net income (loss) $ 284 $ 2,917 $ 43,774 $ (16,766 ) $ (29,925 ) $ 284 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 616 50,419 — — 51,035 Amortization of debt issuance costs/discounts — 4,617 — 95 — 4,712 Provision for doubtful accounts — — 2,417 — — 2,417 Loss on sale of assets or stations — — 735 — — 735 Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Deferred income taxes (1,734 ) (50,894 ) 39,865 15,610 — 2,847 Stock-based compensation expense — 7,743 — — — 7,743 (Earnings) loss from consolidated subsidiaries (2,917 ) (43,774 ) 16,766 — 29,925 — Changes in assets and liabilities — 152,329 (188,495 ) 1,061 — (35,105 ) Net cash (used in) provided by operating activities (4,367 ) 73,554 (33,463 ) — — 35,724 Cash flows from investing activities Proceeds from sale of assets or stations — — 3,055 — — 3,055 Restricted cash — 1,634 — — — 1,634 Capital expenditures — (1,516 ) (13,344 ) — — (14,860 ) Net cash provided by (used in) investing activities — 118 (10,289 ) — — (10,171 ) Cash flows from financing activities: Intercompany transactions, net 4,364 (48,113 ) 43,749 — — — Tax withholding payments on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 3 — — — — 3 Net cash provided by (used in) financing activities 4,367 (48,206 ) 43,749 — — (90 ) Increase (decrease) in cash and cash equivalents — 25,466 (3 ) — — 25,463 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 32,734 $ — $ — $ — $ 32,734 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Cash flows from operating activities: Net income (loss) $ 5,868 $ 9,108 $ 78,523 $ (853 ) $ (86,778 ) $ 5,868 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 917 57,035 — — 57,952 Amortization of debt issuance costs/discount — 4,558 — 96 — 4,654 Provision for doubtful accounts — — 1,828 — — 1,828 Gain on sale of assets or stations — — (898 ) — — (898 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (1,741 ) (37,314 ) 42,669 (459 ) — 3,155 Stock-based compensation expense — 8,245 — — — 8,245 (Loss) earnings from consolidated subsidiaries (9,108 ) (78,523 ) 853 — 86,778 — Changes in assets and liabilities — 168,519 (199,055 ) (8,784 ) — (39,320 ) Net cash (used in) provided by operating activities (4,981 ) 75,531 (19,045 ) (10,000 ) — 41,505 Cash flows from investing activities: Proceeds from sale of assets or stations — — 14,069 — — 14,069 Restricted cash — (240 ) — — — (240 ) Capital expenditures — (86 ) (11,162 ) — — (11,248 ) Net cash (used in) provided by investing activities — (326 ) 2,907 — — 2,581 Cash flows from financing activities: Intercompany transactions, net (7,528 ) (43,775 ) 16,303 35,000 — — Repayments of borrowings under term loans and revolving credit facilities — (31,125 ) — (35,000 ) — (66,125 ) Proceeds from borrowings under term loans and revolving credit facilities — — — 10,000 — 10,000 Tax withholding payments on behalf of employees — (1,320 ) — — — (1,320 ) Proceeds from exercise of warrants 103 — — — — 103 Proceeds from exercise of options 602 — — — — 602 Deferred financing costs — (21 ) — — — (21 ) Net cash (used in) provided by financing activities (6,823 ) (76,241 ) 16,303 10,000 — (56,761 ) (Decrease) increase in cash and cash equivalents (11,804 ) (1,036 ) 165 — — (12,675 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 19,952 $ 165 $ — $ — $ 20,117

Description of Business, Inte19

Description of Business, Interim Financial Data and Basis of Presentation: (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Cumulus Media Inc. (and its consolidated subsidiaries, except as the context may otherwise require, “Cumulus,” “Cumulus Media,” “we,” “us,” “our,” or the “Company”) is a Delaware corporation, organized in 2002, and successor by merger to an Illinois corporation with the same name that had been organized in 1997.
Interim Financial Data	Interim Financial Data The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company and the notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . The accompanying unaudited condensed consolidated financial statements include the condensed consolidated accounts of Cumulus and its wholly-owned subsidiaries, with all intercompany balances and transactions eliminated in consolidation. The December 31, 2014 condensed balance sheet data was derived from audited financial statements. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal, recurring adjustments) necessary for a fair presentation of our results of operations for, and financial condition as of the end of, the interim periods have been made. The results of operations for the three and six months ended June 30, 2015 , the cash flows for the six months ended June 30, 2015 and the Company’s financial condition as of June 30, 2015 , are not necessarily indicative of the results of operations or cash flows that can be expected for, or the Company’s financial condition that can be expected as of the end of, any other interim period or for the fiscal year ending December 31, 2015 .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including significant estimates related to bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, and, if applicable, purchase price allocation. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual amounts and results may differ materially from these estimates.
Assets Held for Sale	Assets Held for Sale During the six months ended June 30, 2015, the Company entered into an agreement to sell certain land to a third party. The closing of the transaction is subject to various closing conditions, including a due diligence period. The land has been classified as held for sale in the unaudited condensed consolidated balance sheet at June 30, 2015. During the year ended December 31, 2014, the Company entered into an agreement to sell certain land and buildings to a third party of which the Company expects to close in the next twelve months. The identified assets have been classified as held for sale in the unaudited condensed consolidated balance sheets at June 30, 2015 and December 31, 2014. The estimated fair value of the land and buildings for both sales are in excess of the carrying value.
Adoption of New Accounting Standards and Recent Accounting Standards Updates	Adoption of New Accounting Standards ASU 2014-08 . In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-08. Under this ASU, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. This ASU (1) expands the disclosure requirements for disposals that meet the definition of a discontinued operation, (2) requires entities to disclose information about disposals of individually significant components, (3) defines “discontinued operations” similarly to how it is defined under International Financial Reporting Standards 5, and (4) requires entities to expand their disclosures about discontinued operations to include more information about assets, liabilities, income and expenses. In addition, this ASU also requires entities to disclose the pre-tax income attributable to a disposal of “an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements.” The Company adopted this guidance effective January 1, 2015. The adoption of this guidance did not have an impact on the consolidated financial statements. Recent Accounting Standards Updates ASU 2014-09 . In May 2014, the FASB issued ASU 2014-09. The amended guidance under this ASU outlines a single comprehensive revenue model for entities to use in accounting for revenue arising from contracts with customers. The guidance supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the single comprehensive revenue model is that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” Entities have the option of using either a full retrospective or modified approach to adopt the guidance. This ASU was originally intended to be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. In July 2015, the FASB voted to approve a one-year deferral of the effective date of this ASU. Transition to the new guidance may be done using either a full or modified retrospective method. The Company is currently assessing the expected impact that this ASU will have on the consolidated financial statements. ASU 2014-15. In August 2014, the FASB issued ASU 2014-15. The amendments in this update provide guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this ASU are effective for public and nonpublic entities for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements. ASU 2015-01. In January 2015, the FASB issued ASU 2015-01. The amendments in this ASU eliminate the concept of an extraordinary item from GAAP. As a result, an entity will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU will still retain the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The ASU will be effective for fiscal years beginning after December 15, 2015 and subsequent interim periods. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements. ASU 2015-02 . In February 2015, the FASB issued ASU 2015-02. The amendments in this ASU provide modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. The ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-03. In April 2015, the FASB issued ASU 2015-03. The amendments in this ASU requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of long-term debt, consistent with debt discounts or premiums. Presently, debt issuance costs are reported as an asset. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The ASU will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The new guidance would be applied retrospectively to all prior reporting periods presented. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-05. In April 2015, the FASB issued ASU 2015-05. The amendments in this ASU provide guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the entity should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. The new guidance does not change an entity’s accounting for service contracts. This ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2015-10 . In June 2015, the FASB issued ASU 2015-10 . The amendments in this ASU are intended to clarify the FASB Accounting Standards Codification (the "ASC"); correct unintended application of guidance; eliminate inconsistencies; and to improve the ASC’s presentation of guidance. This ASU will be effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on the consolidated financial statements.
Fair Value Measurement	The three levels of the fair value hierarchy to be applied to financial instruments when determining fair value are described below: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 — Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 — Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company’s financial assets and liabilities are measured at fair value on a recurring basis and non-financial assets and liabilities are measured at fair value on a non-recurring basis.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables) - Wise Brother Media Inc	6 Months Ended
	Jun. 30, 2015
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The table below summarizes the final purchase price allocation in the Wise Brothers Acquisition (dollars in thousands): Allocation Amount Property and equipment $ 50 Deferred income taxes 100 Other intangible assets 5,025 Goodwill 475 Current liabilities (75 ) Other liabilities (75 ) Total purchase price $ 5,500
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The definite-lived intangible assets acquired in the Wise Brothers Acquisition are being amortized in relation to the expected economic benefits of such assets over their estimated useful lives and consist of the following (dollars in thousands): Description Estimated Useful Life in Years Fair Value Other intangibles - programming content 4 $ 5,025

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The following table presents the changes in intangible assets, other than goodwill, during the periods from January 1, 2014 to December 31, 2014 and January 1, 2015 to June 30, 2015 , and balances as of such dates (dollars in thousands): Indefinite-Lived Definite-Lived Total Intangible Assets: Balance as of January 1, 2014 $ 1,596,337 $ 315,490 $ 1,911,827 Purchase price allocation adjustments 963 — 963 Acquisitions — 8,205 8,205 Dispositions (585 ) (74 ) (659 ) Amortization — (79,981 ) (79,981 ) Balance as of December 31, 2014 1,596,715 243,640 1,840,355 Dispositions (2,776 ) — (2,776 ) Amortization — (34,594 ) (34,594 ) Balance as of June 30, 2015 $ 1,593,939 $ 209,046 $ 1,802,985
Schedule of Finite-Lived Intangible Assets	The following table presents the changes in intangible assets, other than goodwill, during the periods from January 1, 2014 to December 31, 2014 and January 1, 2015 to June 30, 2015 , and balances as of such dates (dollars in thousands): Indefinite-Lived Definite-Lived Total Intangible Assets: Balance as of January 1, 2014 $ 1,596,337 $ 315,490 $ 1,911,827 Purchase price allocation adjustments 963 — 963 Acquisitions — 8,205 8,205 Dispositions (585 ) (74 ) (659 ) Amortization — (79,981 ) (79,981 ) Balance as of December 31, 2014 1,596,715 243,640 1,840,355 Dispositions (2,776 ) — (2,776 ) Amortization — (34,594 ) (34,594 ) Balance as of June 30, 2015 $ 1,593,939 $ 209,046 $ 1,802,985
Schedule of changes in goodwill and accumulated impairment losses	The following table presents the changes in goodwill and accumulated impairment losses during the periods from January 1, 2015 to June 30, 2015 and January 1, 2014 to June 30, 2014 , and balances as of such dates (dollars in thousands): Goodwill: 2015 2014 Balance as of January 1: Goodwill $ 1,583,564 $ 1,586,482 Accumulated impairment losses (329,741 ) (329,741 ) Subtotal 1,253,823 1,256,741 Purchase price allocation adjustments 371 (726 ) Disposition (1,129 ) — Balance as of June 30: Goodwill 1,582,806 1,585,756 Accumulated impairment losses (329,741 ) (329,741 ) Total $ 1,253,065 $ 1,256,015

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Components of Long-term Debt	The Company’s long-term debt consisted of the following as of June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Term Loan and Securitization Facility: Term loan $ 1,903,875 $ 1,903,875 Securitization facility — — Less: term loan discount (26,636 ) (28,748 ) Total Term Loan and Securitization Facility 1,877,239 1,875,127 7.75% senior notes 610,000 610,000 Less: Current portion of long-term debt — — Long-term debt, net $ 2,487,239 $ 2,485,127

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets and Liabilities and Non-Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Fair values as of June 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Fair Value Measurements at June 30, 2015 Using Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Equity interest in Pulser Media (1) $ 18,308 $ — $ — $ 18,308 Total assets $ 18,308 $ — $ — $ 18,308 Financial liabilities: Other current liabilities Contingent consideration (2) $ (181 ) $ — $ — $ (181 ) Total liabilities $ (181 ) $ — $ — $ (181 ) Fair Value Measurements at December 31, 2014 Using Total Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Equity interest in Pulser Media (1) $ 17,339 $ — $ — $ 17,339 Total assets $ 17,339 $ — $ — $ 17,339 Financial liabilities: Other current liabilities Contingent consideration (2) $ (181 ) $ — $ — $ (181 ) Total liabilities $ (181 ) $ — $ — $ (181 ) (1) On September 13, 2013, the Company and Pulser Media Inc. (the parent company of Rdio) ("Pulser"), entered into a five year strategic promotional partnership and sales arrangement (the "Rdio Agreement"). In exchange for $75 million of promotional commitments over five years, Cumulus will receive a 15% equity interest in Pulser, with the opportunity to earn additional equity, see Note 11, "Commitments and Contingencies". The fair value of the equity interest in Pulser was determined using a discounted cash flow model to arrive at an enterprise value and per share price for the investment which are inputs that are supported by little or no market activity (a Level 3 measurement). Due to the volatility in market conditions that have an impact on Pulser's operations, during the six months ended June 30, 2015 , the Company recognized an impairment charge of $1.1 million related to the decline in the fair value of the equity interest in Pulser. (2) Contingent consideration represents the fair value of the additional cash consideration potentially payable as part of the Wise Brothers Acquisition and the Company's 2013 asset exchange with Family Stations, Inc. (the "WFME Asset Exchange"). The fair value of the contingent consideration was determined using inputs that are supported by little or no market activity (a Level 3 measurement).
Schedule of Gross Amounts and Fair Value	The following table shows the gross amount and fair value of the Company’s Term Loan and 7.75% Senior Notes (dollars in thousands): June 30, 2015 December 31, 2014 Term Loan: Carrying value $ 1,903,875 $ 1,903,875 Fair value - Level 2 1,808,681 1,856,278 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value - Level 2 559,675 617,625
WFME Asset Exchange
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Quantitative Information Regarding Significant Unobservable Inputs	Quantitative information regarding the significant unobservable inputs related to the WFME Asset Exchange contingent consideration as of June 30, 2015 was as follows (dollars in thousands): Fair Value Valuation Technique Unobservable Inputs $ 31 Income Approach Total term 5 years Conditions 3 Bond equivalent yield discount rate 0.1 %
Wise Brother Media Inc
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Quantitative Information Regarding Significant Unobservable Inputs	Quantitative information regarding the significant unobservable inputs related to the Wise Brothers Acquisition contingent consideration as of June 30, 2015 was as follows (dollars in thousands): Fair Value Valuation Technique Unobservable Inputs $ 150 Income Approach Total term 2 years Conditions 4
Equity interest in Pulser Media
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Schedule of Components of Change in Fair Value	The reconciliation below contains the components of the change in fair value associated with the equity interest in Pulser from January 1, 2015 to June 30, 2015 (dollars in thousands): Description Equity Interest in Pulser Fair value balance at January 1, 2015 $ 17,339 Add: Additions to equity interest in Pulser 2,025 Less: Impairment charge (1,056 ) Fair value balance at June 30, 2015 $ 18,308
Contingent Consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Schedule of Components of Change in Fair Value	The reconciliation below contains the components of the change in the continuing contingency associated with the contingent consideration from January 1, 2015 to June 30, 2015 (dollars in thousands): Description Contingent Consideration Fair value balance at January 1, 2015 $ (181 ) Mark to market adjustment — Fair value balance at June 30, 2015 $ (181 )

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Common Share	The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2015 and 2014 (amounts in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic Income Per Share Numerator: Undistributed net income from continuing operations $ 12,299 $ 15,137 $ 284 $ 5,868 Less: Participation rights of the Company Warrants in undistributed earnings 57 573 1 306 Participation rights of unvested restricted stock in undistributed earnings 10 13 — 7 Basic undistributed net income attributable to common shares $ 12,232 $ 14,551 $ 283 $ 5,555 Denominator: Basic weighted average shares outstanding 233,279 224,457 233,202 220,104 Basic undistributed net income per share attributable to common shares $0.05 $0.06 $0.00 $0.03 Diluted Income Per Share: Numerator: Undistributed net income from continuing operations $ 12,299 $ 15,137 $ 284 $ 5,868 Less: Participation rights of the Company Warrants in undistributed net earnings 57 562 1 298 Participation rights of unvested restricted stock in undistributed earnings 10 13 — 7 Basic undistributed net income attributable to common shares $ 12,232 $ 14,562 $ 283 $ 5,563 Denominator: Basic weighted average shares outstanding 233,279 224,457 233,202 220,104 Effect of dilutive stock options and warrants 207 4,612 250 6,076 Diluted weighted average shares outstanding 233,486 229,069 233,452 226,180 Diluted undistributed net income per share attributable to common shares $0.05 $0.06 $0.00 $0.02

Supplemental Condensed Consol25

Supplemental Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidated Statements of Operations	CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 125 $ 299,209 $ — $ — $ 299,334 Operating expenses: Content costs — — 91,019 — — 91,019 Selling, general & administrative expenses — — 118,017 531 — 118,548 Depreciation and amortization — 356 25,368 — — 25,724 LMA fees — — 2,572 — — 2,572 Corporate expenses (including stock-based compensation expense of $3,880) — 12,496 — — — 12,496 Gain on sale of assets or stations — — (84 ) — — (84 ) Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Total operating expenses — 12,852 237,948 531 — 251,331 Operating (loss) income — (12,727 ) 61,261 (531 ) — 48,003 Non-operating (expense) income: Interest (expense) income, net (2,184 ) (33,181 ) 27 (47 ) — (35,385 ) Other income, net — — 12,373 — — 12,373 Total non-operating (expense) income, net (2,184 ) (33,181 ) 12,400 (47 ) — (23,012 ) (Loss) income before income taxes (2,184 ) (45,908 ) 73,661 (578 ) — 24,991 Income tax benefit (expense) 867 23,164 (29,248 ) (7,475 ) — (12,692 ) (Loss) income from continuing operations (1,317 ) (22,744 ) 44,413 (8,053 ) — 12,299 Earnings (loss) from consolidated subsidiaries 13,616 36,360 (8,053 ) — (41,923 ) — Net income (loss) $ 12,299 $ 13,616 $ 36,360 $ (8,053 ) $ (41,923 ) $ 12,299 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Six Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 250 $ 570,163 $ — $ — $ 570,413 Operating expenses: Content costs — — 191,826 — — 191,826 Selling, general & administrative expenses — — 233,794 1,061 — 234,855 Depreciation and amortization — 616 50,419 — — 51,035 LMA fees — — 5,070 — — 5,070 Corporate expenses (including stock-based compensation expense of $7,743) — 25,963 — — — 25,963 Loss on sale of assets or stations — — 735 — — 735 Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Total operating expenses — 26,579 482,900 1,061 — 510,540 Operating (loss) income — (26,329 ) 87,263 (1,061 ) — 59,873 Non-operating (expense) income: Interest (expense) income, net (4,367 ) (65,934 ) 385 (95 ) — (70,011 ) Other income, net — — 12,757 — — 12,757 Total non-operating (expense) income, net (4,367 ) (65,934 ) 13,142 (95 ) — (57,254 ) (Loss) income before income taxes (4,367 ) (92,263 ) 100,405 (1,156 ) — 2,619 Income tax benefit (expense) 1,734 51,406 (39,865 ) (15,610 ) — (2,335 ) (Loss) income from continuing operations (2,633 ) (40,857 ) 60,540 (16,766 ) — 284 Earnings (loss) from consolidated subsidiaries 2,917 43,774 (16,766 ) — (29,925 ) — Net income (loss) $ 284 $ 2,917 $ 43,774 $ (16,766 ) $ (29,925 ) $ 284 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 125 $ 328,122 $ — $ — $ 328,247 Operating expenses: Content costs — — 101,802 — — 101,802 Selling, general & administrative expenses — — 117,837 552 — 118,389 Depreciation and amortization — 459 28,612 — — 29,071 LMA fees — — 1,648 — — 1,648 Corporate expenses (including stock-based compensation expense of $4,154) — 19,264 — — — 19,264 Gain on sale of assets or stations — — (360 ) — — (360 ) Total operating expenses — 19,723 249,539 552 — 269,814 Operating (loss) income — (19,598 ) 78,583 (552 ) — 58,433 Non-operating (expense) income: Interest (expense) income, net (2,406 ) (33,987 ) 342 (75 ) — (36,126 ) Other income, net — — 3,593 — — 3,593 Total non-operating (expense) income, net (2,406 ) (33,987 ) 3,935 (75 ) — (32,533 ) (Loss) income before income taxes (2,406 ) (53,585 ) 82,518 (627 ) — 25,900 Income tax benefit (expense) 799 18,253 (30,070 ) 255 — (10,763 ) (Loss) income from continuing operations (1,607 ) (35,332 ) 52,448 (372 ) — 15,137 Earnings (loss) from consolidated subsidiaries 16,744 52,076 (372 ) — (68,448 ) — Net income (loss) $ 15,137 $ 16,744 $ 52,076 $ (372 ) $ (68,448 ) $ 15,137 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Six Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 229 $ 620,062 $ — $ — $ 620,291 Operating expenses: Content costs — — 210,295 — — 210,295 Selling, general & administrative expenses — — 232,581 1,143 — 233,724 Depreciation and amortization — 917 57,035 — — 57,952 LMA fees — — 3,205 — — 3,205 Corporate expenses (including stock-based compensation expense of $8,245) — 38,458 — — — 38,458 Gain on sale of assets or stations — — (898 ) — — (898 ) Total operating expenses — 39,375 502,218 1,143 — 542,736 Operating (loss) income — (39,146 ) 117,844 (1,143 ) — 77,555 Non-operating (expense) income: Interest (expense) income, net (4,981 ) (67,583 ) 672 (169 ) — (72,061 ) Other income, net — — 3,529 — — 3,529 Total non-operating (expense) income, net (4,981 ) (67,583 ) 4,201 (169 ) — (68,532 ) (Loss) income before income taxes (4,981 ) (106,729 ) 122,045 (1,312 ) — 9,023 Income tax benefit (expense) 1,741 37,314 (42,669 ) 459 — (3,155 ) (Loss) income from continuing operations (3,240 ) (69,415 ) 79,376 (853 ) — 5,868 Earnings (loss) from consolidated subsidiaries 9,108 78,523 (853 ) — (86,778 ) — Net income (loss) $ 5,868 $ 9,108 $ 78,523 $ (853 ) $ (86,778 ) $ 5,868
Condensed Consolidated Balance Sheets	CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2015 (Dollars in thousands, except for share and per share data) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Assets Current assets: Cash and cash equivalents $ — $ 32,734 $ — $ — $ — $ 32,734 Restricted cash — 8,421 — — — 8,421 Accounts receivable, less allowance for doubtful accounts of $5,677 — — — 242,867 — 242,867 Trade receivable — — 3,870 — — 3,870 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 49,053 23,104 — — 72,157 Total current assets — 90,208 72,131 242,867 — 405,206 Property and equipment, net — 3,553 186,329 — — 189,882 Broadcast licenses — — — 1,593,939 — 1,593,939 Other intangible assets, net — — 209,046 — — 209,046 Goodwill — — 1,253,065 — — 1,253,065 Investment in consolidated subsidiaries 639,666 4,246,683 1,079,019 — (5,965,368 ) — Intercompany receivables, net — 90,800 1,545,389 — (1,636,189 ) — Other assets — 30,335 40,924 649 (15,418 ) 56,490 Total assets $ 639,666 $ 4,461,579 $ 4,385,903 $ 1,837,455 $ (7,616,975 ) $ 3,707,628 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 27,796 $ 89,690 $ — $ — $ 117,486 Trade payable — — 4,687 — — 4,687 Total current liabilities — 27,796 94,377 — — 122,173 Long-term debt, excluding 7.75% Senior Notes — 1,877,239 — — — 1,877,239 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 4,356 44,843 — — 49,199 Intercompany payables, net 90,151 1,302,522 — 243,516 (1,636,189 ) — Deferred income taxes — — — 514,920 (15,418 ) 499,502 Total liabilities 90,151 3,821,913 139,220 758,436 (1,651,607 ) 3,158,113 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 255,443,945 shares issued and 233,048,303 shares outstanding 2,553 — — — — 2,553 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,395,642 shares (229,198 ) — — — — (229,198 ) Additional paid-in-capital 1,606,220 253,619 4,212,541 2,070,972 (6,537,132 ) 1,606,220 Accumulated (deficit) equity (830,066 ) 386,047 34,142 (991,953 ) 571,764 (830,066 ) Total stockholders’ equity (deficit) 549,515 639,666 4,246,683 1,079,019 (5,965,368 ) 549,515 Total liabilities and stockholders’ equity (deficit) $ 639,666 $ 4,461,579 $ 4,385,903 $ 1,837,455 $ (7,616,975 ) $ 3,707,628 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2014 (Dollars in thousands, except for share and per share data) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Assets Current assets: Cash and cash equivalents $ — $ 7,268 $ 3 $ — $ — $ 7,271 Restricted cash — 10,055 — — — 10,055 Accounts receivable, less allowance for doubtful accounts of $6,004 — — — 248,308 — 248,308 Trade receivable — — 2,455 — — 2,455 Asset held for sale — — 15,007 — — 15,007 Prepaid expenses and other current assets — 66,020 21,710 — — 87,730 Total current assets — 83,343 39,175 248,308 — 370,826 Property and equipment, net — 2,653 218,844 — — 221,497 Broadcast licenses — — — 1,596,715 — 1,596,715 Other intangible assets, net — — 243,640 — — 243,640 Goodwill — — 1,253,823 — — 1,253,823 Investment in consolidated subsidiaries 627,363 4,154,147 1,097,404 — (5,878,914 ) — Intercompany receivables, net — 86,527 1,462,776 — (1,549,303 ) — Other assets — 32,776 25,420 744 — 58,940 Total assets $ 627,363 $ 4,359,446 $ 4,341,082 $ 1,845,767 $ (7,428,217 ) $ 3,745,441 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 30,322 $ 121,336 $ — $ — $ 151,658 Trade payable — — 3,964 — — 3,964 Total current liabilities — 30,322 125,300 — — 155,622 Long-term debt, excluding 7.75% Senior Notes — 1,875,127 — — — 1,875,127 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 2,166 52,955 — — 55,121 Intercompany payables, net 85,783 1,214,468 — 249,052 (1,549,303 ) — Deferred income taxes — — 8,680 499,311 — 507,991 Total liabilities 85,783 3,732,083 186,935 748,363 (1,549,303 ) 3,203,861 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 254,997,925 shares issued and 232,378,371 shares outstanding 2,549 — — — — 2,549 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,619,554 shares (231,588 ) — — — — (231,588 ) Additional paid-in-capital 1,600,963 244,233 4,163,779 2,072,591 (6,480,603 ) 1,600,963 Accumulated (deficit) equity (830,350 ) 383,130 (9,632 ) (975,187 ) 601,689 (830,350 ) Total stockholders’ equity (deficit) 541,580 627,363 4,154,147 1,097,404 (5,878,914 ) 541,580 Total liabilities and stockholders’ equity (deficit) $ 627,363 $ 4,359,446 $ 4,341,082 $ 1,845,767 $ (7,428,217 ) $ 3,745,441
Condensed Consolidated Statements of Cash Flows	CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2015 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Cash flows from operating activities: Net income (loss) $ 284 $ 2,917 $ 43,774 $ (16,766 ) $ (29,925 ) $ 284 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 616 50,419 — — 51,035 Amortization of debt issuance costs/discounts — 4,617 — 95 — 4,712 Provision for doubtful accounts — — 2,417 — — 2,417 Loss on sale of assets or stations — — 735 — — 735 Impairment charges - equity interest in Pulser Media Inc. — — 1,056 — — 1,056 Deferred income taxes (1,734 ) (50,894 ) 39,865 15,610 — 2,847 Stock-based compensation expense — 7,743 — — — 7,743 (Earnings) loss from consolidated subsidiaries (2,917 ) (43,774 ) 16,766 — 29,925 — Changes in assets and liabilities — 152,329 (188,495 ) 1,061 — (35,105 ) Net cash (used in) provided by operating activities (4,367 ) 73,554 (33,463 ) — — 35,724 Cash flows from investing activities Proceeds from sale of assets or stations — — 3,055 — — 3,055 Restricted cash — 1,634 — — — 1,634 Capital expenditures — (1,516 ) (13,344 ) — — (14,860 ) Net cash provided by (used in) investing activities — 118 (10,289 ) — — (10,171 ) Cash flows from financing activities: Intercompany transactions, net 4,364 (48,113 ) 43,749 — — — Tax withholding payments on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 3 — — — — 3 Net cash provided by (used in) financing activities 4,367 (48,206 ) 43,749 — — (90 ) Increase (decrease) in cash and cash equivalents — 25,466 (3 ) — — 25,463 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 32,734 $ — $ — $ — $ 32,734 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2014 (Dollars in thousands) (Unaudited) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Cash flows from operating activities: Net income (loss) $ 5,868 $ 9,108 $ 78,523 $ (853 ) $ (86,778 ) $ 5,868 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 917 57,035 — — 57,952 Amortization of debt issuance costs/discount — 4,558 — 96 — 4,654 Provision for doubtful accounts — — 1,828 — — 1,828 Gain on sale of assets or stations — — (898 ) — — (898 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (1,741 ) (37,314 ) 42,669 (459 ) — 3,155 Stock-based compensation expense — 8,245 — — — 8,245 (Loss) earnings from consolidated subsidiaries (9,108 ) (78,523 ) 853 — 86,778 — Changes in assets and liabilities — 168,519 (199,055 ) (8,784 ) — (39,320 ) Net cash (used in) provided by operating activities (4,981 ) 75,531 (19,045 ) (10,000 ) — 41,505 Cash flows from investing activities: Proceeds from sale of assets or stations — — 14,069 — — 14,069 Restricted cash — (240 ) — — — (240 ) Capital expenditures — (86 ) (11,162 ) — — (11,248 ) Net cash (used in) provided by investing activities — (326 ) 2,907 — — 2,581 Cash flows from financing activities: Intercompany transactions, net (7,528 ) (43,775 ) 16,303 35,000 — — Repayments of borrowings under term loans and revolving credit facilities — (31,125 ) — (35,000 ) — (66,125 ) Proceeds from borrowings under term loans and revolving credit facilities — — — 10,000 — 10,000 Tax withholding payments on behalf of employees — (1,320 ) — — — (1,320 ) Proceeds from exercise of warrants 103 — — — — 103 Proceeds from exercise of options 602 — — — — 602 Deferred financing costs — (21 ) — — — (21 ) Net cash (used in) provided by financing activities (6,823 ) (76,241 ) 16,303 10,000 — (56,761 ) (Decrease) increase in cash and cash equivalents (11,804 ) (1,036 ) 165 — — (12,675 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 19,952 $ 165 $ — $ — $ 20,117

Description of Business, Inte26

Description of Business, Interim Financial Data and Basis of Presentation (Narrative) (Details) - Jun. 30, 2015 $ in Millions	USD ($)MarketsongAffiliateStation
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of owned and operated radio stations | Station	460
Number of markets | Market	90
Number of radio stations | Affiliate	8,500
Number of songs (over 30 million) | song	30,000,000
Hurricane Katrina in 2005
Business Interruption Loss [Line Items]
Insurance proceeds from business interruption claim	$ 14.6
Insurance proceeds received during the quarter	11.6
Other Income | Hurricane Katrina in 2005
Business Interruption Loss [Line Items]
Insurance proceeds from business interruption claim	12.4
Corporate Expenses | Hurricane Katrina in 2005
Business Interruption Loss [Line Items]
Insurance proceeds from business interruption claim	$ 2.2

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) - USD ($) $ in Millions	Nov. 07, 2014	Aug. 01, 2014
Country Weekly Acquisition
Business Acquisition [Line Items]
Total purchase price	$ 3
Wise Brother Media Inc
Business Acquisition [Line Items]
Total purchase price		$ 5.5

Summary of Preliminary Purchase

Summary of Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Aug. 01, 2014	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 1,253,065	$ 1,253,823		$ 1,256,015	$ 1,256,741
Wise Brother Media Inc
Business Acquisition [Line Items]
Property and equipment			$ 50
Deferred income taxes			100
Other intangible assets			5,025
Goodwill			475
Current liabilities			(75)
Other liabilities			(75)
Total purchase price			$ 5,500

Summary of Intangible Assets Ac

Summary of Intangible Assets Acquired (Detail) - USD ($) $ in Thousands	Aug. 01, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Fair Value		$ 8,205
Other intangibles - programming content | Wise Brother Media Inc
Business Acquisition [Line Items]
Estimated Useful Life in Years	4 years
Fair Value	$ 5,025

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 8,421	$ 10,055
Restricted cash amount related to securing maximum exposure generated by automated clearinghouse transactions	600	600
Cash reserve from acquisition	$ 7,800	$ 9,500

Changes in Intangible Assets Ot

Changes in Intangible Assets Other Than Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Indefinite-lived Intangible Assets [Roll Forward]
Indefinite-Lived Intangible Assets, Beginning Balance	$ 1,596,715	$ 1,596,337
Purchase price allocation adjustments		963
Indefinite-Lived, Acquisitions		0
Indefinite-Lived, Dispositions	(2,776)	(585)
Indefinite-Lived Intangible Assets, Ending Balance	1,593,939	1,596,715
Definite-Lived Intangible Assets, Beginning Balance	243,640	315,490
Definite-Lived, Purchase price allocation adjustments		0
Definite-Lived, Acquisitions		8,205
Definite-Lived, Dispositions	0	(74)
Definite-Lived Intangible Assets, Ending Balance	209,046	243,640
Intangible Assets Total, Beginning Balance	1,840,355	1,911,827
Total Acquisitions		8,205
Total Dispositions	(2,776)	(659)
Amortization	(34,594)	(79,981)
Intangible Assets Total, Ending Balance	$ 1,802,985	$ 1,840,355

Changes in Goodwill (Detail)

Changes in Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill	$ 1,583,564	$ 1,586,482
Accumulated impairment losses	(329,741)	(329,741)
Subtotal	1,253,823	1,256,741
Purchase price allocation adjustments	371	(726)
Disposition	(1,129)	0
Goodwill	1,582,806	1,585,756
Accumulated impairment losses	(329,741)	(329,741)
Total	$ 1,253,065	$ 1,256,015
Percentage of fair value of Reporting Unit 1 exceeded its carrying value	10.00%		30.00%
Amount of fair value of Reporting Unit I	$ 1,900,000		$ 2,500,000

Long term debt (Detail)

Long term debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
7.75% senior notes	$ 610,000	$ 610,000
Less: Current portion of long-term debt	0	0
Long-term debt, net	2,487,239	2,485,127
Term Loan and Securitization Facility:
Debt Instrument [Line Items]
Less: term loan discount	(26,636)	(28,748)
Total Term Loan and Securitization Facility	1,877,239	1,875,127
7.75% senior notes
Debt Instrument [Line Items]
7.75% senior notes	610,000	610,000
Term loan | Term Loan and Securitization Facility:
Debt Instrument [Line Items]
Term Loan and Securitization Facility:	1,903,875	1,903,875
Securitization facility | Term Loan and Securitization Facility:
Debt Instrument [Line Items]
Term Loan and Securitization Facility:	$ 0	$ 0

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Dec. 23, 2013USD ($)	Dec. 06, 2013USD ($)	May. 13, 2011USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Senior Notes issued			$ 610,000,000
Amount repaid under outstanding term loan facility			$ 575,800,000
Agreement maturity date						May 1, 2019
Percentage of Senior Notes to be redeemed prior to May 1, 2015			100.00%
Amortization of debt issuance costs/discounts				$ 2,400,000	$ 2,300,000	$ 4,712,000	$ 4,654,000
7.75% senior notes
Line of Credit Facility [Line Items]
Interest on borrowings, per annum			7.75%	7.75%		7.75%		7.75%
Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Term loan	$ 2,025,000,000
Basis spread on LIBOR/base rate	1.00%
Floor rate	2.00%
Amortization rate per annum	1.00%
Interest rate per annum				4.25%		4.25%
Percentage ownership of capital stock of any future first-tier foreign subsidiaries	66.00%
Amount outstanding				$ 1,904,000,000		$ 1,904,000,000		$ 1,904,000,000
Securitization facility | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Term loan	$ 200,000,000
Amount outstanding				0		0		0
Letter of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Term loan	$ 30,000,000
Accounts Receivable Securitization Facility | Securitization Facility
Line of Credit Facility [Line Items]
Term loan		$ 50,000,000
Amount outstanding				$ 0		$ 0		$ 0
Term of revolving accounts receivable securitization facility		5 years
LIBOR | Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate	3.25%
Floor rate	1.00%
LIBOR | Accounts Receivable Securitization Facility | Securitization Facility
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate		2.50%
Base Rate | Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate	2.25%
Federal Funds Rate | Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate	0.50%
Index Rate | Accounts Receivable Securitization Facility | Securitization Facility
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate		1.00%
Maximum | Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Consolidated net leverage ratio				5.50		5.50
Minimum | Line of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Consolidated net leverage ratio				4		4

Financial Assets and Liabilitie

Financial Assets and Liabilities and Non-Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:		$ 18,308	$ 17,339
Financial liabilities:		(181)	(181)
Equity interest in Pulser Media
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:	[1]	18,308	17,339
Contingent Consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities:	[2]	(181)	(181)
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:		18,308	17,339
Financial liabilities:		(181)	(181)
Significant Unobservable Inputs (Level 3) | Equity interest in Pulser Media
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:	[1]	18,308	17,339
Significant Unobservable Inputs (Level 3) | Contingent Consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities:	[2]	$ (181)	$ (181)
[1]	On September 13, 2013, the Company and Pulser Media Inc. (the parent company of Rdio) ("Pulser"), entered into a five year strategic promotional partnership and sales arrangement (the "Rdio Agreement"). In exchange for $75 million of promotional commitments over five years, Cumulus will receive a 15% equity interest in Pulser, with the opportunity to earn additional equity, see Note 11, "Commitments and Contingencies". The fair value of the equity interest in Pulser was determined using a discounted cash flow model to arrive at an enterprise value and per share price for the investment which are inputs that are supported by little or no market activity (a Level 3 measurement). Due to the volatility in market conditions that have an impact on Pulser's operations, during the six months ended June 30, 2015, the Company recognized an impairment charge of $1.1 million related to the decline in the fair value of the equity interest in Pulser.
[2]	Contingent consideration represents the fair value of the additional cash consideration potentially payable as part of the Wise Brothers Acquisition and the Company's 2013 asset exchange with Family Stations, Inc. (the "WFME Asset Exchange"). The fair value of the contingent consideration was determined using inputs that are supported by little or no market activity (a Level 3 measurement).

Financial Assets and Liabilit36

Financial Assets and Liabilities and Non-Financial Assets and Liabilities Measured at Fair Value Additional Information (Detail) - USD ($) $ in Thousands	Sep. 13, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charges - equity interest in Pulser Media Inc.		$ 1,056	$ 0	$ 1,056	$ 0
Strategic Promotional Partnership and Ad Sales Arrangement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Promotion period	5 years
Amount of promotion	$ 75,000
Percentage ownership of fully diluted shares of Pulser equity	15.00%

Components of Change in Fair Va

Components of Change in Fair Value (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Less: Impairment charge		$ (1,056)	$ 0	$ (1,056)	$ 0
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015				17,339
Fair value balance at June 30, 2015		18,308		18,308
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015				(181)
Fair value balance at June 30, 2015		(181)		(181)
Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015	[1]			(181)
Mark to market adjustment				0
Fair value balance at June 30, 2015	[1]	(181)		(181)
Equity interest in Pulser Media | Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015	[2]			17,339
Add: Additions to equity interest in Pulser				2,025
Less: Impairment charge				(1,056)
Fair value balance at June 30, 2015	[2]	$ 18,308		$ 18,308
[1]	Contingent consideration represents the fair value of the additional cash consideration potentially payable as part of the Wise Brothers Acquisition and the Company's 2013 asset exchange with Family Stations, Inc. (the "WFME Asset Exchange"). The fair value of the contingent consideration was determined using inputs that are supported by little or no market activity (a Level 3 measurement).
[2]	On September 13, 2013, the Company and Pulser Media Inc. (the parent company of Rdio) ("Pulser"), entered into a five year strategic promotional partnership and sales arrangement (the "Rdio Agreement"). In exchange for $75 million of promotional commitments over five years, Cumulus will receive a 15% equity interest in Pulser, with the opportunity to earn additional equity, see Note 11, "Commitments and Contingencies". The fair value of the equity interest in Pulser was determined using a discounted cash flow model to arrive at an enterprise value and per share price for the investment which are inputs that are supported by little or no market activity (a Level 3 measurement). Due to the volatility in market conditions that have an impact on Pulser's operations, during the six months ended June 30, 2015, the Company recognized an impairment charge of $1.1 million related to the decline in the fair value of the equity interest in Pulser.

Quantitative Information Regard

Quantitative Information Regarding Significant Unobservable Inputs (Detail) - Fair Value, Measurements, Recurring $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)Condition	Dec. 31, 2014USD ($)
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	$ 181	$ 181
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	181	$ 181
WFME Asset Exchange | Significant Unobservable Inputs (Level 3) | Contingent Consideration
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	$ 31
Valuation Technique	Income Approach
Total term	5 years
Conditions | Condition	3
Bond equivalent yield discount rate	0.10%
Wise Brother Media Inc | Significant Unobservable Inputs (Level 3) | Contingent Consideration
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	$ 150
Total term	2 years
Conditions | Condition	4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Jun. 30, 2015	Dec. 31, 2014	May. 13, 2011
Term loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading prices rate to calculate the fair value	95.00%	97.50%
7.75% senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading prices rate to calculate the fair value	91.75%	101.25%
7.75% senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest on borrowings, per annum	7.75%	7.75%	7.75%

Gross Amounts and Fair Value of

Gross Amounts and Fair Value of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Term loan
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Carrying value	$ 1,903,875	$ 1,903,875
Term loan | Significant Other Observable Inputs (Level 2)
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Fair value - Level 2	1,808,681	1,856,278
7.75% senior notes
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Carrying value	610,000	610,000
7.75% senior notes | Significant Other Observable Inputs (Level 2)
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Fair value - Level 2	$ 559,675	$ 617,625

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2009$ / sharesshares	Jun. 30, 2015Class_Of_Stock$ / sharesshares	Jun. 30, 2015voteClass_Of_Stock$ / sharesshares	Dec. 31, 2014shares	Sep. 16, 2011$ / sharesshares
Class of Stock [Line Items]
Total stock dividend authorized to issue		1,450,644,871	1,450,644,871
Number of classes of stock | Class_Of_Stock		4	4
Par value of Preferred stock shares | $ / shares					$ 0.01
2009 warrants
Class of Stock [Line Items]
Warrants issued	1,300,000
Exercisable price of warrants to purchase common stock | $ / shares	$ 1.17
Warrants outstanding		400,000	400,000
Company Warrants
Class of Stock [Line Items]
Warrants outstanding		1,000,000	1,000,000
Company Warrants were converted into shares of Class A common stock since issuance		200,000	500,000
Equity Investment
Class of Stock [Line Items]
Warrants outstanding		7,800,000	7,800,000		7,800,000
Crestview Warrants
Class of Stock [Line Items]
Exercisable price of warrants to purchase common stock | $ / shares					$ 4.34
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized		750,000,000	750,000,000	750,000,000
Number of votes per share | vote			1
Common stock, shares issued		255,443,945	255,443,945	254,997,925
Class A common stock | Citadel Acquisition
Class of Stock [Line Items]
Common stock, shares issued					71,700,000
Class A common stock | Minimum
Class of Stock [Line Items]
Class A common stock following conversion			4.99%
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized		600,000,000	600,000,000
Shares of common stock converted			15,400,000
Class C common stock
Class of Stock [Line Items]
Common stock, shares authorized		644,871	644,871	644,871
Number of votes per share | vote			10
Common stock, shares issued		644,871	644,871	644,871
Series A Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized		100,000,000	100,000,000
Par value of Preferred stock shares | $ / shares		$ 0.01	$ 0.01

Stock-Based Compensation Expe42

Stock-Based Compensation Expense - Additional Information (Detail) $ / shares in Units, $ in Thousands	May. 14, 2015USD ($)shares	May. 22, 2014USD ($)shares	Dec. 27, 2012USD ($)Installment$ / sharesshares	Feb. 16, 2012USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Installment$ / sharesshares	Jun. 30, 2014USD ($)shares
Share Based Compensation [Line Items]
Number of shares of Class A common stock | shares			800,000
Grant date fair value			$ 1,100
Exercise price per share | $ / shares			$ 4.34
Number of vesting period anniversaries | Installment			4				4
Vesting stock based compensation related to awards					$ 3,880	$ 4,154	$ 7,743	$ 8,245
Stock-based compensation expense							7,743	$ 8,245
Unrecognized stock-based compensation expense					19,500		$ 19,500
Weighted average remaining life for recognition of unrecognized compensation expense							2 years 3 months 26 days
Stock options exercised | shares							0	1,200,000
Share-based Compensation Award, Tranche One
Share Based Compensation [Line Items]
Number of vesting period anniversaries | Installment			2				2
Share-based Compensation Award, Tranche Two
Share Based Compensation [Line Items]
Number of vesting period anniversaries | Installment			2				2
First And Second Anniversaries
Share Based Compensation [Line Items]
Award vesting percentage			30.00%				30.00%
Third And Fourth Anniversaries
Share Based Compensation [Line Items]
Award vesting percentage			20.00%				20.00%
Equity Incentive Plans
Share Based Compensation [Line Items]
Grant date fair value				$ 3,300
Time-vesting stock options to purchase | shares				1,400,000
Exercise price | $ / shares				$ 4.34
Equity Incentive Plans | Share-based Compensation Award, Tranche One
Share Based Compensation [Line Items]
Percentage of vesting stock based compensation				30.00%
Equity Incentive Plans | Share-based Compensation Award, Tranche Two
Share Based Compensation [Line Items]
Percentage of vesting stock based compensation				20.00%
Restricted Stock
Share Based Compensation [Line Items]
Grant date fair value							$ 1,100	$ 1,700
Number of stock options granted | shares							625,000	350,000
Total Fair value of restricted stock awards vested					$ 200	$ 1,100	$ 500	$ 2,100
Restricted Stock | Minimum
Share Based Compensation [Line Items]
Exercise price per share | $ / shares							$ 2.49
Restricted Stock | Maximum
Share Based Compensation [Line Items]
Exercise price per share | $ / shares							$ 7.74
Non Employee Directors
Share Based Compensation [Line Items]
Grant date fair value	$ 600	$ 600
Non Employee Directors | Restricted Class A Common Stock
Share Based Compensation [Line Items]
Shares of time-vesting restricted Class A common stock | shares	242,916	93,312
Cliff vesting term	1 year	1 year

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Denominator:
Basic weighted average shares outstanding	233,278,660	224,456,934	233,202,282	220,104,481
Diluted weighted average shares outstanding	233,486,283	229,069,397	233,452,205	226,180,298
Basic Share
Numerator:
Undistributed net income from continuing operations	$ 12,299	$ 15,137	$ 284	$ 5,868
Less:
Basic undistributed net income attributable to common shares	$ 12,232	$ 14,551	$ 283	$ 5,555
Denominator:
Basic weighted average shares outstanding	233,279,000	224,457,000	233,202,000	220,104,000
Income per share	$ 0.05	$ 0.06	$ 0	$ 0.03
Diluted Share
Numerator:
Undistributed net income from continuing operations	$ 12,299	$ 15,137	$ 284	$ 5,868
Less:
Basic undistributed net income attributable to common shares	$ 12,232	$ 14,562	$ 283	$ 5,563
Denominator:
Basic weighted average shares outstanding	233,279,000	224,457,000	233,202,000	220,104,000
Effect of dilutive stock options and warrants	207,000	4,612,000	250,000	6,076,000
Diluted weighted average shares outstanding	233,486,000	229,069,000	233,452,000	226,180,000
Income per share	$ 0.05	$ 0.06	$ 0	$ 0.02
Warrants | Basic Share
Less:
Participation rights of the Company Warrants in undistributed earnings	$ 57	$ 573	$ 1	$ 306
Warrants | Diluted Share
Less:
Participation rights of the Company Warrants in undistributed earnings	57	562	1	298
Restricted Stock | Basic Share
Less:
Participation rights of unvested restricted stock in undistributed earnings, Basic	10	13	0	7
Restricted Stock | Diluted Share
Less:
Participation rights of unvested restricted stock in undistributed earnings, Diluted	$ 10	$ 13	$ 0	$ 7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income tax expense on pre-tax income	$ (12,692)	$ (10,763)	$ (2,335)	$ (3,155)
Effective income tax rate (percentage)	50.80%	41.70%	88.50%	35.60%
Pre-tax income	$ (24,991)	$ (25,900)	$ (2,619)	$ (9,023)
Federal statutory income tax rate (percentage)			35.00%	35.00%
Annual effective tax rate before discrete items for fiscal year 2015			44.50%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Nov. 07, 2014USD ($)seller	Apr. 25, 2014USD ($)Station	Jan. 02, 2014USD ($)Station	Sep. 13, 2013USD ($)	Jun. 30, 2015USD ($)Affiliate
Supply Commitment [Line Items]
Number of radio stations | Affiliate					8,500
Country Weekly Acquisition
Supply Commitment [Line Items]
Number sellers | seller	1
Fee for collaboration on the production, publication and distribution of Country Weekly	$ 1
Duration of agreement	6 years
Exit Plan | Contract Termination | Accounts Payable and Accrued Expenses
Supply Commitment [Line Items]
Current restructuring liabilities					$ 0.4
Exit Plan | Contract Termination | Non-current liabilities
Supply Commitment [Line Items]
Noncurrent restructuring liabilities					4.1
Merlin Media LLC
Supply Commitment [Line Items]
Monthly management fees, second year			$ 0.4
Monthly management fees, third year			0.5
Monthly management fees, fourth year			$ 0.6
Merlin Media LLC | Put Option
Supply Commitment [Line Items]
Number of radio stations | Station			2
Amount under option agreement to settle management fees		$ 14.8	$ 71
Period after commencement date to settle management fees			4 years
Period to exercise option		10 days	10 days
Merlin Media LLC | Call Option | Maximum
Supply Commitment [Line Items]
Amount under option agreement to settle management fees		$ 14.8	$ 70
Merlin Media LLC | Call Option | Minimum
Supply Commitment [Line Items]
Amount under option agreement to settle management fees			$ 50
Universal Media Access, LLC
Supply Commitment [Line Items]
Number of radio stations | Station		1
Fixed fee under LMA		$ 1.4
Term under LMA		2 years
Strategic Promotional Partnership and Ad Sales Arrangement
Supply Commitment [Line Items]
Amount of promotion				$ 75
Promotion period				5 years
Percentage ownership of fully diluted shares of Pulser equity				15.00%
Arbitron
Supply Commitment [Line Items]
Remaining aggregate obligation under the agreements with Arbitron					$ 122.7

Supplemental Condensed Consol46

Supplemental Condensed Consolidating Financial Information (Narrative) (Details)	Jun. 30, 2015	Dec. 31, 2014	May. 13, 2011
Condensed Financial Statements, Captions [Line Items]
Ownership percentage in subsidiaries	100.00%
7.75% senior notes
Condensed Financial Statements, Captions [Line Items]
Interest on borrowings, per annum	7.75%	7.75%	7.75%

Condensed Consolidating Stateme

Condensed Consolidating Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Income Statements, Captions [Line Items]
Net revenue	$ 299,334	$ 328,247	$ 570,413	$ 620,291
Operating expenses:
Content costs	91,019	101,802	191,826	210,295
Selling, general & administrative expenses	118,548	118,389	234,855	233,724
Depreciation and amortization	25,724	29,071	51,035	57,952
LMA fees	2,572	1,648	5,070	3,205
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	12,496	19,264	25,963	38,458
Gain on sale of assets or stations	(84)	(360)	735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056	0	1,056	0
Total operating expenses	251,331	269,814	510,540	542,736
Operating income	48,003	58,433	59,873	77,555
Non-operating (expense) income:
Interest (expense) income, net	(35,385)	(36,126)	(70,011)	(72,061)
Other income, net	12,373	3,593	12,757	3,529
Total non-operating expense, net	(23,012)	(32,533)	(57,254)	(68,532)
Income before income taxes	24,991	25,900	2,619	9,023
Income tax expense	(12,692)	(10,763)	(2,335)	(3,155)
(Loss) income from continuing operations	12,299	15,137	284	5,868
Earnings (loss) from consolidated subsidiaries	0	0	0	0
Net income	12,299	15,137	284	5,868
Cumulus Media Inc. (Parent Guarantor)
Condensed Income Statements, Captions [Line Items]
Net revenue	0	0	0	0
Operating expenses:
Content costs	0	0	0	0
Selling, general & administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	0	0	0	0
Gain on sale of assets or stations	0	0	0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	0	0	0	0
Operating income	0	0	0	0
Non-operating (expense) income:
Interest (expense) income, net	(2,184)	(2,406)	(4,367)	(4,981)
Other income, net	0	0	0	0
Total non-operating expense, net	(2,184)	(2,406)	(4,367)	(4,981)
Income before income taxes	(2,184)	(2,406)	(4,367)	(4,981)
Income tax expense	867	799	1,734	1,741
(Loss) income from continuing operations	(1,317)	(1,607)	(2,633)	(3,240)
Earnings (loss) from consolidated subsidiaries	13,616	16,744	2,917	9,108
Net income	12,299	15,137	284	5,868
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Income Statements, Captions [Line Items]
Net revenue	125	125	250	229
Operating expenses:
Content costs	0	0	0	0
Selling, general & administrative expenses	0	0	0	0
Depreciation and amortization	356	459	616	917
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	12,496	19,264	25,963	38,458
Gain on sale of assets or stations	0	0	0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	12,852	19,723	26,579	39,375
Operating income	(12,727)	(19,598)	(26,329)	(39,146)
Non-operating (expense) income:
Interest (expense) income, net	(33,181)	(33,987)	(65,934)	(67,583)
Other income, net	0	0	0	0
Total non-operating expense, net	(33,181)	(33,987)	(65,934)	(67,583)
Income before income taxes	(45,908)	(53,585)	(92,263)	(106,729)
Income tax expense	23,164	18,253	51,406	37,314
(Loss) income from continuing operations	(22,744)	(35,332)	(40,857)	(69,415)
Earnings (loss) from consolidated subsidiaries	36,360	52,076	43,774	78,523
Net income	13,616	16,744	2,917	9,108
Subsidiary Guarantors
Condensed Income Statements, Captions [Line Items]
Net revenue	299,209	328,122	570,163	620,062
Operating expenses:
Content costs	91,019	101,802	191,826	210,295
Selling, general & administrative expenses	118,017	117,837	233,794	232,581
Depreciation and amortization	25,368	28,612	50,419	57,035
LMA fees	2,572	1,648	5,070	3,205
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	0	0	0	0
Gain on sale of assets or stations	(84)	(360)	735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056		1,056
Total operating expenses	237,948	249,539	482,900	502,218
Operating income	61,261	78,583	87,263	117,844
Non-operating (expense) income:
Interest (expense) income, net	27	342	385	672
Other income, net	12,373	3,593	12,757	3,529
Total non-operating expense, net	12,400	3,935	13,142	4,201
Income before income taxes	73,661	82,518	100,405	122,045
Income tax expense	(29,248)	(30,070)	(39,865)	(42,669)
(Loss) income from continuing operations	44,413	52,448	60,540	79,376
Earnings (loss) from consolidated subsidiaries	(8,053)	(372)	(16,766)	(853)
Net income	36,360	52,076	43,774	78,523
Subsidiary Non-guarantors
Condensed Income Statements, Captions [Line Items]
Net revenue	0	0	0	0
Operating expenses:
Content costs	0	0	0	0
Selling, general & administrative expenses	531	552	1,061	1,143
Depreciation and amortization	0	0	0	0
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	0	0	0	0
Gain on sale of assets or stations	0	0	0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	531	552	1,061	1,143
Operating income	(531)	(552)	(1,061)	(1,143)
Non-operating (expense) income:
Interest (expense) income, net	(47)	(75)	(95)	(169)
Other income, net	0	0	0	0
Total non-operating expense, net	(47)	(75)	(95)	(169)
Income before income taxes	(578)	(627)	(1,156)	(1,312)
Income tax expense	(7,475)	255	(15,610)	459
(Loss) income from continuing operations	(8,053)	(372)	(16,766)	(853)
Earnings (loss) from consolidated subsidiaries	0	0	0	0
Net income	(8,053)	(372)	(16,766)	(853)
Eliminations
Condensed Income Statements, Captions [Line Items]
Net revenue	0	0	0	0
Operating expenses:
Content costs	0	0	0	0
Selling, general & administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $3,880, $4,154, $7,743 and $8,245, respectively)	0	0	0	0
Gain on sale of assets or stations	0	0	0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	0	0	0	0
Operating income	0	0	0	0
Non-operating (expense) income:
Interest (expense) income, net	0	0	0	0
Other income, net	0	0	0	0
Total non-operating expense, net	0	0	0	0
Income before income taxes	0	0	0	0
Income tax expense	0	0	0	0
(Loss) income from continuing operations	0	0	0	0
Earnings (loss) from consolidated subsidiaries	(41,923)	(68,448)	(29,925)	(86,778)
Net income	$ (41,923)	$ (68,448)	$ (29,925)	$ (86,778)

Supplemental Condensed Consol48

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Statements of Operations (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Stock-based compensation expense	$ 3,880	$ 4,154	$ 7,743	$ 8,245

Supplemental Condensed Consol49

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 32,734	$ 7,271	$ 20,117	$ 32,792
Restricted cash	8,421	10,055
Accounts receivable, less allowance for doubtful accounts	242,867	248,308
Trade receivable	3,870	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	72,157	87,730
Total current assets	405,206	370,826
Property and equipment, net	189,882	221,497
Broadcast licenses	1,593,939	1,596,715
Other intangible assets, net	209,046	243,640
Goodwill	1,253,065	1,253,823	1,256,015	1,256,741
Investment in consolidated subsidiaries	0	0
Intercompany receivables, net	0	0
Other assets	56,490	58,940
Total assets	3,707,628	3,745,441
Accounts payable and accrued expenses	117,486	151,658
Trade payable	4,687	3,964
Total current liabilities	122,173	155,622
Long-term debt, excluding 7.75% senior notes	1,877,239	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	49,199	55,121
Intercompany payables, net	0	0
Deferred income taxes	499,502	507,991
Total liabilities	3,158,113	3,203,861
Treasury stock, at cost	(229,198)	(231,588)
Additional paid-in-capital	1,606,220	1,600,963
Accumulated deficit	(830,066)	(830,350)
Total stockholders’ equity	549,515	541,580
Total liabilities and stockholders’ equity	3,707,628	3,745,441
Cumulus Media Inc. (Parent Guarantor)
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	11,804
Restricted cash	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Broadcast licenses	0	0
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	639,666	627,363
Intercompany receivables, net	0	0
Other assets	0	0
Total assets	639,666	627,363
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Long-term debt, excluding 7.75% senior notes	0	0
7.75% senior notes	0	0
Other liabilities	0	0
Intercompany payables, net	90,151	85,783
Deferred income taxes	0	0
Total liabilities	90,151	85,783
Treasury stock, at cost	(229,198)	(231,588)
Additional paid-in-capital	1,606,220	1,600,963
Accumulated deficit	(830,066)	(830,350)
Total stockholders’ equity	549,515	541,580
Total liabilities and stockholders’ equity	639,666	627,363
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	32,734	7,268	19,952	20,988
Restricted cash	8,421	10,055
Accounts receivable, less allowance for doubtful accounts	0	0
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	49,053	66,020
Total current assets	90,208	83,343
Property and equipment, net	3,553	2,653
Broadcast licenses	0	0
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	4,246,683	4,154,147
Intercompany receivables, net	90,800	86,527
Other assets	30,335	32,776
Total assets	4,461,579	4,359,446
Accounts payable and accrued expenses	27,796	30,322
Trade payable	0	0
Total current liabilities	27,796	30,322
Long-term debt, excluding 7.75% senior notes	1,877,239	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	4,356	2,166
Intercompany payables, net	1,302,522	1,214,468
Deferred income taxes	0	0
Total liabilities	3,821,913	3,732,083
Treasury stock, at cost	0	0
Additional paid-in-capital	253,619	244,233
Accumulated deficit	386,047	383,130
Total stockholders’ equity	639,666	627,363
Total liabilities and stockholders’ equity	4,461,579	4,359,446
Subsidiary Guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	3	165	0
Restricted cash	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Trade receivable	3,870	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	23,104	21,710
Total current assets	72,131	39,175
Property and equipment, net	186,329	218,844
Broadcast licenses	0	0
Other intangible assets, net	209,046	243,640
Goodwill	1,253,065	1,253,823
Investment in consolidated subsidiaries	1,079,019	1,097,404
Intercompany receivables, net	1,545,389	1,462,776
Other assets	40,924	25,420
Total assets	4,385,903	4,341,082
Accounts payable and accrued expenses	89,690	121,336
Trade payable	4,687	3,964
Total current liabilities	94,377	125,300
Long-term debt, excluding 7.75% senior notes	0	0
7.75% senior notes	0	0
Other liabilities	44,843	52,955
Intercompany payables, net	0	0
Deferred income taxes	0	8,680
Total liabilities	139,220	186,935
Treasury stock, at cost	0	0
Additional paid-in-capital	4,212,541	4,163,779
Accumulated deficit	34,142	(9,632)
Total stockholders’ equity	4,246,683	4,154,147
Total liabilities and stockholders’ equity	4,385,903	4,341,082
Subsidiary Non-guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, less allowance for doubtful accounts	242,867	248,308
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	0	0
Total current assets	242,867	248,308
Property and equipment, net	0	0
Broadcast licenses	1,593,939	1,596,715
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	0	0
Intercompany receivables, net	0	0
Other assets	649	744
Total assets	1,837,455	1,845,767
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Long-term debt, excluding 7.75% senior notes	0	0
7.75% senior notes	0	0
Other liabilities	0	0
Intercompany payables, net	243,516	249,052
Deferred income taxes	514,920	499,311
Total liabilities	758,436	748,363
Treasury stock, at cost	0	0
Additional paid-in-capital	2,070,972	2,072,591
Accumulated deficit	(991,953)	(975,187)
Total stockholders’ equity	1,079,019	1,097,404
Total liabilities and stockholders’ equity	1,837,455	1,845,767
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Broadcast licenses	0	0
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	(5,965,368)	(5,878,914)
Intercompany receivables, net	(1,636,189)	(1,549,303)
Other assets	(15,418)	0
Total assets	(7,616,975)	(7,428,217)
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Long-term debt, excluding 7.75% senior notes	0	0
7.75% senior notes	0	0
Other liabilities	0	0
Intercompany payables, net	(1,636,189)	(1,549,303)
Deferred income taxes	(15,418)	0
Total liabilities	(1,651,607)	(1,549,303)
Treasury stock, at cost	0	0
Additional paid-in-capital	(6,537,132)	(6,480,603)
Accumulated deficit	571,764	601,689
Total stockholders’ equity	(5,965,368)	(5,878,914)
Total liabilities and stockholders’ equity	(7,616,975)	(7,428,217)
Class A common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	2,553	2,549
Class A common stock | Cumulus Media Inc. (Parent Guarantor)
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	2,553	2,549
Class A common stock | Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class A common stock | Subsidiary Guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class A common stock | Subsidiary Non-guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class A common stock | Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class C common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	6	6
Class C common stock | Cumulus Media Inc. (Parent Guarantor)
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	6	6
Class C common stock | Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class C common stock | Subsidiary Guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class C common stock | Subsidiary Non-guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	0	0
Class C common stock | Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	$ 0	$ 0

Supplemental Condensed Consol50

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Balance Sheet (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	May. 13, 2011
Condensed Balance Sheet Statements, Captions [Line Items]
Allowance for doubtful accounts	$ 5,677	$ 6,004
Treasury stock, shares	22,395,642	22,619,554
Class A common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	255,443,945	254,997,925
Common stock, shares outstanding	233,048,303	232,378,371
Class C common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	644,871	644,871
Common stock, shares issued	644,871	644,871
Common stock, shares outstanding	644,871	644,871
7.75% senior notes
Condensed Balance Sheet Statements, Captions [Line Items]
Interest on borrowings, per annum	7.75%	7.75%	7.75%

Condensed Consolidating State51

Condensed Consolidating Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 12,299	$ 15,137	$ 284	$ 5,868
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			51,035	57,952
Amortization of debt issuance costs/discounts	2,400	2,300	4,712	4,654
Provision for doubtful accounts			2,417	1,828
Loss (gain) on sale of assets or stations			735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056	0	1,056	0
Fair value adjustment of derivative instruments			0	21
Deferred income taxes			2,847	3,155
Stock-based compensation expense			7,743	8,245
(Earnings) loss from consolidated subsidiaries			0	0
Changes in assets and liabilities			(35,105)	(39,320)
Net cash provided by operating activities			35,724	41,505
Cash flows from investing activities:
Proceeds from sale of assets or stations			3,055	14,069
Restricted cash			1,634	(240)
Capital expenditures			(14,860)	(11,248)
Net cash (used in) provided by investing activities			(10,171)	2,581
Cash flows from financing activities:
Intercompany transactions, net			0	0
Repayment of borrowings under term loans and revolving credit facilities			0	(66,125)
Proceeds from borrowings under term loans and revolving credit facilities			0	10,000
Tax withholding payments on behalf of employees			(93)	(1,320)
Proceeds from exercise of warrants			3	103
Proceeds from exercise of options			0	602
Deferred financing costs			0	(21)
Net cash used in financing activities			(90)	(56,761)
Increase (decrease) in cash and cash equivalents			25,463	(12,675)
Cash and cash equivalents at beginning of period			7,271	32,792
Cash and cash equivalents at end of period	32,734	20,117	32,734	20,117
Cumulus Media Inc. (Parent Guarantor)
Cash flows from operating activities:
Net income	12,299	15,137	284	5,868
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			0	0
Amortization of debt issuance costs/discounts			0	0
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				0
Deferred income taxes			(1,734)	(1,741)
Stock-based compensation expense			0	0
(Earnings) loss from consolidated subsidiaries			(2,917)	(9,108)
Changes in assets and liabilities			0	0
Net cash provided by operating activities			(4,367)	(4,981)
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			0	0
Capital expenditures			0	0
Net cash (used in) provided by investing activities			0	0
Cash flows from financing activities:
Intercompany transactions, net			4,364	(7,528)
Repayment of borrowings under term loans and revolving credit facilities				0
Proceeds from borrowings under term loans and revolving credit facilities				0
Tax withholding payments on behalf of employees			0	0
Proceeds from exercise of warrants			3	103
Proceeds from exercise of options				602
Deferred financing costs				0
Net cash used in financing activities			4,367	(6,823)
Increase (decrease) in cash and cash equivalents			0	(11,804)
Cash and cash equivalents at beginning of period			0	11,804
Cash and cash equivalents at end of period	0	0	0	0
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Cash flows from operating activities:
Net income	13,616	16,744	2,917	9,108
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			616	917
Amortization of debt issuance costs/discounts			4,617	4,558
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				21
Deferred income taxes			(50,894)	(37,314)
Stock-based compensation expense			7,743	8,245
(Earnings) loss from consolidated subsidiaries			(43,774)	(78,523)
Changes in assets and liabilities			152,329	168,519
Net cash provided by operating activities			73,554	75,531
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			1,634	(240)
Capital expenditures			(1,516)	(86)
Net cash (used in) provided by investing activities			118	(326)
Cash flows from financing activities:
Intercompany transactions, net			(48,113)	(43,775)
Repayment of borrowings under term loans and revolving credit facilities				(31,125)
Proceeds from borrowings under term loans and revolving credit facilities				0
Tax withholding payments on behalf of employees			(93)	(1,320)
Proceeds from exercise of warrants			0	0
Proceeds from exercise of options				0
Deferred financing costs				(21)
Net cash used in financing activities			(48,206)	(76,241)
Increase (decrease) in cash and cash equivalents			25,466	(1,036)
Cash and cash equivalents at beginning of period			7,268	20,988
Cash and cash equivalents at end of period	32,734	19,952	32,734	19,952
Subsidiary Guarantors
Cash flows from operating activities:
Net income	36,360	52,076	43,774	78,523
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			50,419	57,035
Amortization of debt issuance costs/discounts			0	0
Provision for doubtful accounts			2,417	1,828
Loss (gain) on sale of assets or stations			735	(898)
Impairment charges - equity interest in Pulser Media Inc.	1,056		1,056
Fair value adjustment of derivative instruments				0
Deferred income taxes			39,865	42,669
Stock-based compensation expense			0	0
(Earnings) loss from consolidated subsidiaries			16,766	853
Changes in assets and liabilities			(188,495)	(199,055)
Net cash provided by operating activities			(33,463)	(19,045)
Cash flows from investing activities:
Proceeds from sale of assets or stations			3,055	14,069
Restricted cash			0	0
Capital expenditures			(13,344)	(11,162)
Net cash (used in) provided by investing activities			(10,289)	2,907
Cash flows from financing activities:
Intercompany transactions, net			43,749	16,303
Repayment of borrowings under term loans and revolving credit facilities				0
Proceeds from borrowings under term loans and revolving credit facilities				0
Tax withholding payments on behalf of employees			0	0
Proceeds from exercise of warrants			0	0
Proceeds from exercise of options				0
Deferred financing costs				0
Net cash used in financing activities			43,749	16,303
Increase (decrease) in cash and cash equivalents			(3)	165
Cash and cash equivalents at beginning of period			3	0
Cash and cash equivalents at end of period	0	165	0	165
Subsidiary Non-guarantors
Cash flows from operating activities:
Net income	(8,053)	(372)	(16,766)	(853)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			0	0
Amortization of debt issuance costs/discounts			95	96
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				0
Deferred income taxes			15,610	(459)
Stock-based compensation expense			0	0
(Earnings) loss from consolidated subsidiaries			0	0
Changes in assets and liabilities			1,061	(8,784)
Net cash provided by operating activities			0	(10,000)
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			0	0
Capital expenditures			0	0
Net cash (used in) provided by investing activities			0	0
Cash flows from financing activities:
Intercompany transactions, net			0	35,000
Repayment of borrowings under term loans and revolving credit facilities				(35,000)
Proceeds from borrowings under term loans and revolving credit facilities				10,000
Tax withholding payments on behalf of employees			0	0
Proceeds from exercise of warrants			0	0
Proceeds from exercise of options				0
Deferred financing costs				0
Net cash used in financing activities			0	10,000
Increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
Eliminations
Cash flows from operating activities:
Net income	(41,923)	(68,448)	(29,925)	(86,778)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			0	0
Amortization of debt issuance costs/discounts			0	0
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				0
Deferred income taxes			0	0
Stock-based compensation expense			0	0
(Earnings) loss from consolidated subsidiaries			29,925	86,778
Changes in assets and liabilities			0	0
Net cash provided by operating activities			0	0
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			0	0
Capital expenditures			0	0
Net cash (used in) provided by investing activities			0	0
Cash flows from financing activities:
Intercompany transactions, net			0	0
Repayment of borrowings under term loans and revolving credit facilities				0
Proceeds from borrowings under term loans and revolving credit facilities				0
Tax withholding payments on behalf of employees			0	0
Proceeds from exercise of warrants			0	0
Proceeds from exercise of options				0
Deferred financing costs				0
Net cash used in financing activities			0	0
Increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	$ 0	$ 0	$ 0	$ 0