Cumulus Media (CMLS) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 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	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		233,171,452
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	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 84,245	$ 7,271
Restricted cash	8,422	10,055
Accounts receivable, less allowance for doubtful accounts of $5,758 and $6,004 at September 30, 2015 and December 31, 2014, respectively	228,093	248,308
Trade receivable	4,601	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	59,361	87,730
Total current assets	429,879	370,826
Property and equipment, net	182,513	221,497
Broadcast licenses	1,578,066	1,596,715
Other intangible assets, net	191,768	243,640
Goodwill	703,354	1,253,823
Other assets	38,158	58,940
Total assets	3,123,738	3,745,441
Current liabilities:
Accounts payable and accrued expenses	146,512	151,658
Trade payable	4,632	3,964
Total current liabilities	151,144	155,622
Long-term debt, excluding 7.75% senior notes	1,878,313	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	45,157	55,121
Deferred income taxes	419,480	507,991
Total liabilities	$ 3,104,094	$ 3,203,861
Commitments and Contingencies (Note 11)
Stockholders’ equity:
Treasury stock, at cost, 22,445,947 and 22,619,554 shares at September 30, 2015 and December 31, 2014, respectively	$ (229,308)	$ (231,588)
Additional paid-in-capital	1,618,636	1,600,963
Accumulated deficit	(1,372,245)	(830,350)
Total stockholders’ equity	19,644	541,580
Total liabilities and stockholders’ equity	3,123,738	3,745,441
Class A common stock
Stockholders’ equity:
Common stock	2,555	2,549
Class C common stock
Stockholders’ equity:
Common stock	$ 6	$ 6

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	May. 13, 2011
Condensed Financial Statements, Captions [Line Items]
Allowance for doubtful accounts	$ 5,758	$ 6,004
Treasury stock, shares	22,445,947	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	255,617,399	254,997,925
Common stock, shares outstanding	233,171,452	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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net revenue	$ 289,441	$ 313,885	$ 859,854	$ 934,176
Operating expenses:
Content costs	94,829	106,574	286,655	316,868
Selling, general & administrative expenses	115,562	119,864	350,417	353,588
Depreciation and amortization	25,547	29,143	76,582	87,095
LMA fees	2,515	2,021	7,585	5,226
Corporate expenses (including stock-based compensation expense of $12,304, $4,399, $20,047 and $12,645, respectively)	34,253	14,756	60,211	53,215
Loss (gain) on sale of assets or stations	57	(373)	792	(1,271)
Impairment of intangible assets and goodwill	565,584	0	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	18,308	0	19,364	0
Total operating expenses	856,655	271,985	1,367,190	814,721
Operating (loss) income	(567,214)	41,900	(507,336)	119,455
Non-operating (expense) income:
Interest expense	(35,691)	(36,647)	(106,087)	(109,380)
Interest income	22	352	407	1,024
Other (expense) income, net	(151)	443	12,601	3,972
Total non-operating expense, net	(35,820)	(35,852)	(93,079)	(104,384)
(Loss) income before income taxes	(603,034)	6,048	(600,415)	15,071
Income tax benefit (expense)	60,855	(3,508)	58,520	(6,663)
Net (loss) income	$ (542,179)	$ 2,540	$ (541,895)	$ 8,408
Basic and diluted (loss) income per common share (see Note 9, “(Loss) Earnings Per Share”):
Basic: (Loss) income per share	$ (2.32)	$ 0.01	$ (2.32)	$ 0.04
Diluted: (Loss) income per share	$ (2.32)	$ 0.01	$ (2.32)	$ 0.04
Weighted average basic common shares outstanding	233,556,066	231,885,444	233,321,506	224,074,622
Weighted average diluted common shares outstanding	233,556,066	233,222,153	233,321,506	227,802,636

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Stock-based compensation expense	$ 12,304	$ 4,399	$ 20,047	$ 12,645

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net (loss) income	$ (541,895)	$ 8,408
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	76,582	87,095
Amortization of debt issuance costs/discounts	7,112	7,029
Provision for doubtful accounts	2,417	2,468
Loss (gain) on sale of assets or stations	792	(1,271)
Impairment of intangible assets and goodwill	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	19,364	0
Fair value adjustment of derivative instruments	0	21
Deferred income taxes	(58,520)	6,663
Stock-based compensation expense	20,047	12,645
Changes in assets and liabilities:
Accounts receivable	17,790	22,759
Trade receivable	(2,146)	686
Prepaid expenses and other current assets	(1,615)	(9,206)
Other assets	(2,508)	(12,304)
Accounts payable and accrued expenses	(5,519)	(19,085)
Trade payable	668	413
Other liabilities	(9,964)	(8,232)
Net cash provided by operating activities	88,189	98,089
Cash flows from investing activities:
Restricted cash	1,633	(4,200)
Acquisition less cash acquired	0	(5,500)
Proceeds from sale of assets or stations	3,055	15,718
Capital expenditures	(15,817)	(13,401)
Net cash used in investing activities	(11,129)	(7,383)
Cash flows from financing activities:
Repayment of borrowings under term loans and revolving credit facilities	0	(106,125)
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	7	106
Proceeds from exercise of options	0	619
Net cash used in financing activities	(86)	(96,741)
Increase (decrease) in cash and cash equivalents	76,974	(6,035)
Cash and cash equivalents at beginning of period	7,271	32,792
Cash and cash equivalents at end of period	84,245	26,757
Supplemental disclosures of cash flow information:
Interest paid	84,998	90,533
Income taxes paid	3,359	10,406
Supplemental disclosures of non-cash flow information:
Trade revenue	25,317	23,735
Trade expense	23,968	25,038
Equity interest in Pulser Media Inc.
Supplemental disclosures of non-cash flow information:
Equity interest in Pulser Media Inc.	$ 2,025	$ 10,001

Description of Business, Interi

Description of Business, Interim Financial Data and Basis of Presentation	9 Months Ended
	Sep. 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 A leader in the radio broadcasting industry, Cumulus combines high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands to deliver premium content choices for the 245 million people reached each week through its 454 owned-and-operated stations broadcasting in 90 US media markets, more than 8,200 broadcast radio stations affiliated with its Westwood One network and numerous digital channels. The Cumulus/Westwood One platforms combine to make Cumulus one of the few media companies who can provide advertisers national reach and local impact. Additionally, Cumulus/Westwood One is the nation's leading provider of country music and lifestyle content through its NASH brand - which serves country fans nationwide through radio programming, NASH Country Weekly magazine, concerts, licensed products and television/video - as well as the exclusive radio broadcast partner to the some of the largest brands in sports and entertainment, including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYs, the Country Music Awards, the Billboard Music Awards and Miss America. 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 nine months ended September 30, 2015 , the cash flows for the nine months ended September 30, 2015 and the Company’s financial condition as of September 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 nine months ended September 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 September 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 September 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 nine months ended September 30, 2015 , the Company received $14.6 million of insurance proceeds related to a business interruption claim arising from Hurricane Katrina in 2005. The Company recorded $12.4 million in other (expense) income, net and $2.2 million as an offset to corporate expenses in the unaudited condensed consolidated statement of operations for the nine months ended September 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.” In August 2015, the FASB issued ASU 2015-14, which delayed the effective date of ASU 2014-09 by one year. Transition to the new guidance may be done using either a full or modified retrospective method. ASU 2014-09, as amended, is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2017. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently assessing the expected impact that this ASU, as amended, 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 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 2015-02 . 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 beginning after December 15, 2015, and interim periods thereafter. 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 require 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. In August 2015, the FASB issued ASU 2015-15, which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The ASUs will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods thereafter. 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, these ASUs 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 beginning after December 15, 2015, and interim periods thereafter. 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 beginning after December 15, 2015, 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 2015-16 . In September 2015, the FASB issued ASU 2015-16. The amendments in this ASU requires than an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount as if the accounting had been completed at the acquisition date. This ASU will be effective for fiscal years beginning after December 15, 2015, and interim periods thereafter. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 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 in 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	9 Months Ended
	Sep. 30, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash As of September 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 September 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	9 Months Ended
	Sep. 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 September 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 ) Impairment losses (15,873 ) — (15,873 ) Amortization — (51,872 ) (51,872 ) Balance as of September 30, 2015 $ 1,578,066 $ 191,768 $ 1,769,834 The following table presents the changes in goodwill and accumulated impairment losses during the periods from January 1, 2015 to September 30, 2015 and January 1, 2014 to September 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 (606 ) Disposition (1,129 ) (616 ) Impairment losses (549,711 ) — Balance as of September 30: Goodwill 1,582,806 1,585,260 Accumulated impairment losses (879,452 ) (329,741 ) Total $ 703,354 $ 1,255,519 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 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 a sustained decline in the Company's stock price and operating results, the Company performed an interim goodwill and broadcast licenses impairment assessment as of September 30, 2015 . Prior to conducting the first step of the goodwill impairment test, the Company first evaluated the recoverability of the long-lived assets, including purchased intangible assets. When indicators of impairment are present, the Company tests long-lived assets (other than goodwill and indefinite-lived intangible assets) for recoverability by comparing the carrying value of an asset group to its undiscounted cash flows. The Company considered the lower than expected revenue and profitability levels as business indicators of impairment for the long-lived assets. Based on the results of the recoverability test, the Company determined that the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition exceeded the carrying value of the applicable asset groups and were therefore recoverable. The Company did not recognize any impairment charges for intangible assets as a result of this analysis. Step 1 Goodwill Test The Company has three reporting units for goodwill impairment purposes which align with Company's operational structure of three distinct verticals used to effectively manage the operations of the business. The Company's top 50 Nielsen Audio rated markets and WestwoodOne comprise one reporting unit ("Reporting Unit 1"), the second reporting unit consists of all of the Company's other radio markets ("Reporting Unit 2") while the third reporting unit consists of all non-radio lines of business ("Reporting Unit 3"). The Company performed its impairment testing of goodwill using a discounted cash flow analysis, an income approach. The discounted cash flow approach requires the projection of future cash flows and the calculation of these cash flows into their present value equivalent via a discount rate. The Company used an approximate five -year projection period to derive operating cash flow projections from a market participant view. The Company made certain assumptions regarding future revenue growth based on industry market data and historical and expected performance. The Company then projected future operating expenses in order to derive expected operating profits, which the Company combined with expected working capital additions and capital expenditures to determine expected operating cash flows. The Company performed the Step 1 test and compared the fair value of each reporting unit to the carrying value of its net assets as of September 30, 2015 . This test was used to determine if any of the Company’s reporting units had an indicator of impairment ( i.e. the market net asset carrying value was greater than the calculated fair value of the reporting unit). The discount rate employed in the fair value calculations in the Step 1 test in the Company’s reporting units was 8.9% . The Company believes this discount rate was appropriate and reasonable for estimating the fair value of the reporting units. For periods after 2015 , the Company projected annual revenue growth based on industry data and historical and expected performance. The Company projected expense growth based primarily on the reporting units’ historical financial performance and expected growth. The Company’s projections were based on then-current market and economic conditions and the Company’s historical knowledge of the reporting units. To validate the Company’s conclusions and determine the reasonableness of the Company’s assumptions, the Company conducted an overall check of the Company’s fair value calculations by comparing the implied fair value of the Company’s reporting units, in the aggregate, to the Company’s market capitalization during the quarter ended September 30, 2015 . As compared with the market capitalization of $2.8 billion , the aggregate fair value of all reporting units of approximately $2.6 billion was approximately $0.2 billion , or 6.5% , lower than the market capitalization. The Company's analysis determined that, based on its Step 1 goodwill test, the fair value of Reporting Unit 1 containing goodwill balances was below its carrying value at September 30, 2015 . For the remaining reporting units, since no impairment indicator existed in Step 1, the Company determined goodwill was appropriately stated as of September 30, 2015 . Step 2 Goodwill Test As required by the Step 2 test, the Company prepared an allocation of the fair value of Reporting Unit 1 identified in the Step 1 test as containing indications of impairment. The results of the Step 2 test and the calculated impairment charge for Reporting Unit 1 at September 30, 2015 follows (dollars in thousands): September 30, 2015 Fair Value Implied Goodwill Value Carrying Value of Goodwill Impairment Reporting Unit 1 $ 1,670,333 $ 336,509 $ 886,220 $ 549,711 The assumptions used in estimating the fair values of reporting units are based on currently available data at the time the test is conducted and management’s best estimates as discussed above, and accordingly, a change in market conditions or other factors could have a material effect on the estimated values. Indefinite Lived Intangibles (FCC Licenses) The Company performs its annual impairment testing of indefinite-lived intangibles (the Company’s FCC licenses) during the fourth quarter of each year and on an interim basis if events or circumstances indicate that the asset may be impaired. The Company has combined all of the Company’s broadcast licenses within a single geographic market cluster into a single unit of accounting for impairment testing purposes. As part of the overall planning associated with the indefinite-lived intangibles test, the Company determined that the Company’s geographic markets are the appropriate unit of accounting for the broadcast license impairment testing. As a result of certain developments in the Company's business, the Company performed an interim impairment assessment as of September 30, 2015 for the Company's FCC licenses, including both AM and FM licenses. For the impairment test, the Company utilized the income approach, specifically the Greenfield Method. This approach values the license by calculating the value of a hypothetical start-up company that goes into business with no assets except the asset to be valued (the license). The value of the asset under consideration can be considered as equal to the value of this hypothetical start-up company. In completing the appraisals, the Company conducted a thorough review of all aspects of the assets being valued. The income approach measures value based on income generated by the subject property, which is then analyzed and projected over a specified time and capitalized at an appropriate market rate to arrive at the estimated value. The Greenfield Method isolates cash flows attributable to the subject asset using a hypothetical start-up approach. The estimated fair values of the Company’s FCC licenses represent the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between the Company and willing market participants at the measurement date. The estimated fair value also assumes the highest and best use of the asset by market participants, considering the use of the asset that is physically possible, legally permissible and financially feasible. A basic assumption in the Company’s valuation of these FCC licenses was that these radio stations were new radio stations, signing on-the-air as of the date of the valuation. The Company assumed the competitive situation that existed in those markets as of that date, except that these stations were just beginning operations. In doing so, the Company bifurcated the value of going concern and any other assets acquired, and strictly valued the FCC licenses. In estimating the value of the licenses using a discounted cash flow analysis, the Company began with market revenue projections. Next, the Company estimated the percentage of the market’s total revenue, or market share, that market participants could reasonably expect an average start-up station to attain, as the well as the duration (in years) required to reach the average market share. The estimated average market share was computed based on market share data, by type (i.e., AM and FM). After market revenue and market shares have been estimated, operating expenses, including depreciation based on assumed investments in fixed assets and future capital expenditures, of a start-up station or operation are similarly estimated based on industry-average cost data. Appropriate estimated income taxes are then subtracted, estimated depreciation added back, estimated capital expenditures subtracted, and estimated working capital adjustments are made to calculate estimated free cash flow during the build-up period until a steady state or mature “normalized” operation is achieved. The Company discounted the net free cash flows using an after-tax weighted average cost of capital of 8.9% , and then calculated the total discounted net free cash flows. For net free cash flows beyond the projection period, the Company estimated a perpetuity value, and then discounted the amounts to present values. In order to estimate what listening audience share would be expected for each station by market, the Company analyzed the average local commercial share garnered by similar AM and FM stations competing in those radio markets. The Company made any appropriate adjustments to the listening share and revenue share based on the stations’ signal coverage within the market and the surrounding area population as compared to the other stations in the market. Based on the Company’s knowledge of the industry and familiarity with similar markets, the Company determined that approximately three years would be required for the stations to reach maturity. The Company also incorporated the following additional assumptions into the discounted cash flow valuation model: • the projected operating revenues and expenses through 2020; • the estimation of initial and on-going capital expenditures (based on market size); • depreciation on initial and on-going capital expenditures (the Company calculated depreciation using accelerated double declining balance guidelines over five years for the value of the tangible assets necessary for a radio station to go on-the-air); • the estimation of working capital requirements (based on working capital requirements for comparable companies); • the calculations of yearly net free cash flows to invested capital; and • amortization of the intangible asset — the FCC license. As a result of the impairment test of its indefinite-lived intangibles conducted as of September 30, 2015 , the Company recorded a non-cash impairment charge of approximately $15.9 million to reduce the carrying value of FCC licenses to their estimated fair values.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consisted of the following as of September 30, 2015 and December 31, 2014 (dollars in thousands): September 30, 2015 December 31, 2014 Term Loan and Securitization Facility: Term loan $ 1,903,875 $ 1,903,875 Securitization facility — — Less: term loan discount (25,562 ) (28,748 ) Total Term Loan and Securitization Facility 1,878,313 1,875,127 7.75% senior notes 610,000 610,000 Less: Current portion of long-term debt — — Long-term debt, net $ 2,488,313 $ 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 September 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 September 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 September 30, 2015 , the Company's actual leverage ratio was in excess of the required ratio. If the Company accessed borrowings under the Revolving Credit Facility, the Company would be required to comply with such ratio. 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 September 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 September 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 September 30, 2015 and December 31, 2014 , there were no amounts outstanding under the Securitization Facility. For the three and nine months ended September 30, 2015 , the Company recorded an aggregate of $2.4 million and $7.1 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 nine months ended September 30, 2014 , the Company recorded an aggregate of $2.3 million and $7.0 million , respectively, 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	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Fair Value Measurements at September 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 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 three and nine months ended September 30, 2015 , the Company recognized an impairment charge of $18.3 million and $19.4 million , respectively, 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 September 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 (19,364 ) Fair value balance at September 30, 2015 $ — The reconciliation below contains the components of the change in the continuing contingency associated with the contingent consideration from January 1, 2015 to September 30, 2015 (dollars in thousands): Description Contingent Consideration Fair value balance at January 1, 2015 $ (181 ) Mark to market adjustment — Fair value balance at September 30, 2015 $ (181 ) Quantitative information regarding the significant unobservable inputs related to the WFME Asset Exchange contingent consideration as of September 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 September 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): September 30, 2015 December 31, 2014 Term Loan: Carrying value $ 1,903,875 $ 1,903,875 Fair value - Level 2 1,608,774 1,856,278 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value - Level 2 437,675 617,625 As of September 30, 2015 , the Company used trading prices of 84.50% to calculate the fair value of the Term Loan and 71.75% 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	9 Months Ended
	Sep. 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. 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 September 30, 2015 , 0.3 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 nine months ended September 30, 2015 , approximately 0.1 million and 0.5 million Company Warrants, respectively, were converted into shares of Class A common stock. At September 30, 2015 , approximately 0.9 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 September 30, 2015 , all 7.8 million Crestview Warrants remained outstanding.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options issued. The determination of the fair value of stock options on the date of grant is affected by the Company’s stock price, historical stock price volatility over the expected term of the awards, risk-free interest rates and expected dividends. With respect to restricted stock awards, the Company recognizes compensation expense over the vesting period equal to the grant date fair value of the shares awarded. To the extent non-vested restricted stock awards include performance or market conditions management examines the requisite service period to recognize the cost associated with the award on a case-by-case basis. There were no changes to the Black-Scholes calculations or assumptions during the year. 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. On September 29, 2015, the Company announced that Mr. Lewis Dickey will no longer serve as the Company's President and Chief Executive Officer, effective as of October 13, 2015, and will receive the benefits as set forth in the Employment Agreement dated November 29, 2011, as amended by the First Amendment to Employment Agreement dated as of April 28, 2015, between the Company and Mr. Lewis Dickey. In addition, as of September 29, 2015, Mr. John Dickey will no longer serve as the Company’s Executive Vice President of Content and Programming and will receive the benefits set forth in the Employment Agreement dated as of November 29, 2011, as amended by the First Amendment to Employment Agreement dated as of September 4, 2014, between the Company and Mr. John Dickey. In connection with the above departures, the Company recorded accelerated stock compensation costs of $8.7 million for the three and nine months ended September 30, 2015, these costs are included in corporate expenses and additional paid-in capital in the accompanying condensed consolidated financial statements. During the nine months ended September 30, 2015 , the Company granted 670,000 stock options with an aggregate grant date fair value of $1.1 million . During the nine months ended September 30, 2014 , the Company granted 655,000 stock options with an aggregate grant date fair value of $2.7 million . The options range in exercise price from $0.75 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 nine months ended September 30, 2015 and 2014 , the Company recognized approximately $12.3 million , $20.0 million , $4.4 million and $12.6 million , respectively, in stock-based compensation expense related to equity awards. As of September 30, 2015 , unrecognized stock-based compensation expense of approximately $6.8 million related to equity awards is expected to be recognized over a weighted average remaining life of 2.33 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 nine months ended September 30, 2015 was $0.0 million and $0.5 million , respectively. The total fair value of restricted stock awards that vested during the three and nine months ended September 30, 2014 was $0.0 million and $2.1 million , respectively. There were no stock options exercised during the nine months ended September 30, 2015 and 1.3 million stock options were exercised during the nine months ended September 30, 2014 .

(Loss) Earnings Per Share

(Loss) Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(Loss) Earnings Per Share For all periods presented, the Company has disclosed basic and diluted (loss) earnings per common share utilizing the two-class method. Basic (loss) earnings per common share is calculated by dividing net (loss) 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 (loss) 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 (loss) income. Diluted (loss) earnings per share is computed in the same manner as basic (loss) 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 (loss) earnings for the period had been distributed. (Loss) earnings are allocated to each participating security and common shares equally. The following table sets forth the computation of basic and diluted (loss) earnings per common share for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic (Loss) Income Per Share Numerator: Undistributed net (loss) income from continuing operations $ (542,179 ) $ 2,540 $ (541,895 ) $ 8,408 Less: Participation rights of the Company Warrants in undistributed earnings — 25 — 318 Participation rights of unvested restricted stock in undistributed earnings — 2 — 9 Basic undistributed net (loss) income attributable to common shares $ (542,179 ) $ 2,513 $ (541,895 ) $ 8,081 Denominator: Basic weighted average shares outstanding 233,556 231,885 233,322 224,075 Basic undistributed net (loss) income per share attributable to common shares $ (2.32 ) $ 0.01 $ (2.32 ) $ 0.04 Diluted (Loss) Income Per Share: Numerator: Undistributed net (loss) income from continuing operations $ (542,179 ) $ 2,540 $ (541,895 ) $ 8,408 Less: Participation rights of the Company Warrants in undistributed net earnings — 25 — 313 Participation rights of unvested restricted stock in undistributed earnings — 2 — 9 Basic undistributed net (loss) income attributable to common shares $ (542,179 ) $ 2,513 $ (541,895 ) $ 8,086 Denominator: Basic weighted average shares outstanding 233,556 231,885 233,322 224,075 Effect of dilutive stock options and warrants — 1,337 — 3,728 Diluted weighted average shares outstanding 233,556 233,222 233,322 227,803 Diluted undistributed net (loss) income per share attributable to common shares $ (2.32 ) $ 0.01 $ (2.32 ) $ 0.04 Potentially dilutive equivalent shares outstanding for the three and nine months ended September 30, 2015 excluded from the computation of diluted (loss) income per share consisted of approximately 1.2 million and 1.4 million shares, respectively, of common stock underlying outstanding warrants and stock options.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2015 , the Company recorded income tax benefit of $60.9 million on pre-tax loss of $603.0 million , resulting in an effective tax rate for the three months ended September 30, 2015 of approximately 10.1% . For the three months ended September 30, 2014 , the Company recorded income tax expense of $3.5 million on pre-tax income of $6.0 million , resulting in an effective tax rate for the three months ended September 30, 2014 of approximately 58.3% . For the nine months ended September 30, 2015 , the Company recorded an income tax benefit of $58.5 million on a pre-tax loss of $600.4 million , resulting in an effective tax rate for the nine months ended September 30, 2015 of approximately 9.7% . For the nine months ended September 30, 2014 , the Company recorded income tax expense of $6.7 million on pre-tax income of $15.1 million , resulting in an effective tax rate for the nine months ended September 30, 2014 of approximately 44.4% . The difference between the effective tax rate and the federal statutory rate of 35.0% for both the three and nine months ended September 30, 2015 primarily relates to the effect of the book impairment charge to goodwill for which there is no deferred tax liability, 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 nine months ended September 30, 2014 primarily relates to state and local income taxes, and changes in the valuation allowance on certain separate company filing jurisdiction net operating losses. 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 September 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 $110.4 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 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 September 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 September 30, 2015 , liabilities related to the Exit Plan of $0.5 million were included in accounts payable and accrued expenses and are expected to be paid within one year and $4.0 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 elect to purchase the radio station at any time until May 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 April 25, 2015. In addition, Universal has the right to elect to require the Company to purchase the station at any time during a ten -day period commencing May 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. In connection with the departures of executives as disclosed in Note 8, "Stock-Based Compensation Expense", the Company recorded restructuring costs of $10.2 million for the three and nine months ended September 30, 2015 and is included in corporate expenses in the condensed consolidated statements of operations. As of September 30, 2015 , liabilities of $10.2 million were included in accounts payable and accrued expenses in the condensed consolidated balance sheet and are expected to be paid within one year. 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 In August 2015, we were named as a defendant in two separate putative class action lawsuits relating to our use and public performance of certain sound recordings fixed prior to February 15, 1972 (the "Pre-1972 Recordings"). The first suit, ABS Entertainment, Inc., et. al. v, Cumulus Media Inc., was filed in the United States District Court for the Central District of California and alleges, among other things, violation of California rights of publicity, common law conversion, misappropriation and unfair business practices. The second suit, ABS Entertainment, Inc., v. Cumulus Media Inc., was filed in the United States District Court for the Southern District of New York and alleges, among other things, common law copyright infringement and unfair competition. The New York lawsuit has been stayed pending an appeal before the Second Circuit involving unrelated third-parties over whether the owner of a Pre-1972 Recording holds an exclusive right to publicly perform that recording under New York common law. Each suit seeks unspecified damages. We are evaluating each suit, and intend to defend ourselves vigorously. In addition to the above suits, we are currently party to, or a defendant in, various other 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	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Condensed Consolidating Financial Information	Supplemental Condensed Consolidating Financial Information At September 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 nine months ended September 30, 2015 and 2014 , (ii) unaudited condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014 , and (iii) unaudited condensed consolidated statements of cash flows for the nine months ended September 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 September 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 $ 289,316 $ — $ — $ 289,441 Operating expenses: Content costs — — 94,829 — — 94,829 Selling, general & administrative expenses — — 115,126 436 — 115,562 Depreciation and amortization — 384 25,163 — — 25,547 LMA fees — — 2,515 — — 2,515 Corporate expenses (including stock-based compensation expense of $12,304) — 34,253 — — — 34,253 Loss on sale of assets or stations — — 57 — — 57 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 18,308 — — 18,308 Total operating expenses — 34,637 821,582 436 — 856,655 Operating loss — (34,512 ) (532,266 ) (436 ) — (567,214 ) Non-operating (expense) income: Interest (expense) income, net (2,184 ) (33,460 ) 22 (47 ) — (35,669 ) Other expense, net — — (151 ) — — (151 ) Total non-operating expense, net (2,184 ) (33,460 ) (129 ) (47 ) — (35,820 ) Loss before income taxes (2,184 ) (67,972 ) (532,395 ) (483 ) — (603,034 ) Income tax benefit (expense) 704 (171,978 ) 233,254 (1,125 ) — 60,855 (Loss) earnings from consolidated subsidiaries (540,699 ) (300,749 ) (1,608 ) — 843,056 — Net (loss) income $ (542,179 ) $ (540,699 ) $ (300,749 ) $ (1,608 ) $ 843,056 $ (542,179 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine Months Ended September 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 $ — $ 375 $ 859,479 $ — $ — $ 859,854 Operating expenses: Content costs — — 286,655 — — 286,655 Selling, general & administrative expenses — — 348,919 1,498 — 350,417 Depreciation and amortization — 1,000 75,582 — — 76,582 LMA fees — — 7,585 — — 7,585 Corporate expenses (including stock-based compensation expense of $20,047) — 60,211 — — — 60,211 Loss on sale of assets or stations — — 792 — — 792 Impairment of intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Total operating expenses — 61,211 1,304,481 1,498 — 1,367,190 Operating loss — (60,836 ) (445,002 ) (1,498 ) — (507,336 ) Non-operating (expense) income: Interest (expense) income, net (6,552 ) (99,394 ) 407 (141 ) — (105,680 ) Other income, net — — 12,601 — — 12,601 Total non-operating (expense) income, net (6,552 ) (99,394 ) 13,008 (141 ) — (93,079 ) Loss before income taxes (6,552 ) (160,230 ) (431,994 ) (1,639 ) — (600,415 ) Income tax benefit (expense) 2,438 (120,572 ) 193,389 (16,735 ) — 58,520 (Loss) earnings from consolidated subsidiaries (537,781 ) (256,979 ) (18,374 ) — 813,134 — Net (loss) income $ (541,895 ) $ (537,781 ) $ (256,979 ) $ (18,374 ) $ 813,134 $ (541,895 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended September 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 $ 313,760 $ — $ — $ 313,885 Operating expenses: Content costs — — 106,574 — — 106,574 Selling, general & administrative expenses — — 119,455 409 — 119,864 Depreciation and amortization — 428 28,715 — — 29,143 LMA fees — — 2,021 — — 2,021 Corporate expenses (including stock-based compensation expense of $4,399) — 14,756 — — — 14,756 Gain on sale of assets or stations — — (373 ) — — (373 ) Total operating expenses — 15,184 256,392 409 — 271,985 Operating (loss) income — (15,059 ) 57,368 (409 ) — 41,900 Non-operating (expense) income: Interest (expense) income, net (2,184 ) (34,416 ) 352 (47 ) — (36,295 ) Other income, net — — 443 — — 443 Total non-operating (expense) income, net (2,184 ) (34,416 ) 795 (47 ) — (35,852 ) (Loss) income before income taxes (2,184 ) (49,475 ) 58,163 (456 ) — 6,048 Income tax benefit (expense) 1,427 31,750 (37,008 ) 323 — (3,508 ) Earnings (loss) from consolidated subsidiaries 3,297 21,022 (133 ) — (24,186 ) — Net income (loss) $ 2,540 $ 3,297 $ 21,022 $ (133 ) $ (24,186 ) $ 2,540 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine Months Ended September 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 $ — $ 354 $ 933,822 $ — $ — $ 934,176 Operating expenses: Content costs — — 316,868 — — 316,868 Selling, general & administrative expenses — — 352,036 1,552 — 353,588 Depreciation and amortization — 1,346 85,749 — — 87,095 LMA fees — — 5,226 — — 5,226 Corporate expenses (including stock-based compensation expense of $12,645) — 53,215 — — — 53,215 Gain on sale of assets or stations — — (1,271 ) — — (1,271 ) Total operating expenses — 54,561 758,608 1,552 — 814,721 Operating (loss) income — (54,207 ) 175,214 (1,552 ) — 119,455 Non-operating (expense) income: Interest (expense) income, net (7,165 ) (101,999 ) 1,024 (216 ) — (108,356 ) Other income, net — — 3,972 — — 3,972 Total non-operating (expense) income, net (7,165 ) (101,999 ) 4,996 (216 ) — (104,384 ) (Loss) income before income taxes (7,165 ) (156,206 ) 180,210 (1,768 ) — 15,071 Income tax benefit (expense) 3,168 69,064 (79,677 ) 782 — (6,663 ) Earnings (loss) from consolidated subsidiaries 12,405 99,547 (986 ) — (110,966 ) — Net income (loss) $ 8,408 $ 12,405 $ 99,547 $ (986 ) $ (110,966 ) $ 8,408 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 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 $ — $ 84,245 $ — $ — $ — $ 84,245 Restricted cash — 8,422 — — — 8,422 Accounts receivable, less allowance for doubtful accounts of $5,758 — — — 228,093 — 228,093 Trade receivable — — 4,601 — — 4,601 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 28,614 30,747 — — 59,361 Total current assets — 121,281 80,505 228,093 — 429,879 Property and equipment, net — 3,897 178,616 — — 182,513 Broadcast licenses — — — 1,578,066 — 1,578,066 Other intangible assets, net — — 191,768 — — 191,768 Goodwill — — 703,354 — — 703,354 Investment in consolidated subsidiaries 111,978 3,768,315 1,062,021 — (4,942,314 ) — Intercompany receivables, net — 92,935 1,587,977 — (1,680,912 ) — Other assets — 28,918 105,204 601 (96,565 ) 38,158 Total assets $ 111,978 $ 4,015,346 $ 3,909,445 $ 1,806,760 $ (6,719,791 ) $ 3,123,738 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 51,222 $ 95,290 $ — $ — $ 146,512 Trade payable — — 4,632 — — 4,632 Total current liabilities — 51,222 99,922 — — 151,144 Long-term debt, excluding 7.75% Senior Notes — 1,878,313 — — — 1,878,313 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 3,949 41,208 — — 45,157 Intercompany payables, net 92,334 1,359,884 — 228,694 (1,680,912 ) — Deferred income taxes — — — 516,045 (96,565 ) 419,480 Total liabilities 92,334 3,903,368 141,130 744,739 (1,777,477 ) 3,104,094 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 255,617,399 shares issued and 233,171,452 shares outstanding 2,555 — — — — 2,555 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,445,947 shares (229,308 ) — — — — (229,308 ) Additional paid-in-capital 1,618,636 266,629 4,034,926 2,055,582 (6,357,137 ) 1,618,636 Accumulated (deficit) equity (1,372,245 ) (154,651 ) (266,611 ) (993,561 ) 1,414,823 (1,372,245 ) Total stockholders’ equity (deficit) 19,644 111,978 3,768,315 1,062,021 (4,942,314 ) 19,644 Total liabilities and stockholders’ equity (deficit) $ 111,978 $ 4,015,346 $ 3,909,445 $ 1,806,760 $ (6,719,791 ) $ 3,123,738 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 Nine Months Ended September 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 (loss) income $ (541,895 ) $ (537,781 ) $ (256,979 ) $ (18,374 ) $ 813,134 $ (541,895 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation and amortization — 1,000 75,582 — — 76,582 Amortization of debt issuance costs/discounts — 6,970 — 142 — 7,112 Provision for doubtful accounts — — 2,417 — — 2,417 Loss on sale of assets or stations — — 792 — — 792 Impairment of intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Deferred income taxes (2,438 ) 120,572 (193,389 ) 16,735 — (58,520 ) Stock-based compensation expense — 20,047 — — — 20,047 Earnings (loss) from consolidated subsidiaries 537,781 256,979 18,374 — (813,134 ) — Changes in assets and liabilities — 273,801 (278,592 ) 1,497 — (3,294 ) Net cash (used in) provided by operating activities (6,552 ) 141,588 (46,847 ) — — 88,189 Cash flows from investing activities Proceeds from sale of assets or stations — — 3,055 — — 3,055 Restricted cash — 1,633 — — — 1,633 Capital expenditures — (2,244 ) (13,573 ) — — (15,817 ) Net cash used in investing activities — (611 ) (10,518 ) — — (11,129 ) Cash flows from financing activities: Intercompany transactions, net 6,545 (63,907 ) 57,362 — — — Tax withholding payments on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 7 — — — — 7 Net cash provided by (used in) financing activities 6,552 (64,000 ) 57,362 — — (86 ) Increase (decrease) in cash and cash equivalents — 76,977 (3 ) — — 76,974 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 84,245 $ — $ — $ — $ 84,245 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine Months Ended September 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) $ 8,408 $ 12,405 $ 99,547 $ (986 ) $ (110,966 ) $ 8,408 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 1,346 85,749 — — 87,095 Amortization of debt issuance costs/discount — 6,886 — 143 — 7,029 Provision for doubtful accounts — — 2,468 — — 2,468 Gain on sale of assets or stations — — (1,271 ) — — (1,271 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (3,168 ) (69,064 ) 79,677 (782 ) — 6,663 Stock-based compensation expense — 12,645 — — — 12,645 (Loss) earnings from consolidated subsidiaries (12,405 ) (99,547 ) 986 — 110,966 — Changes in assets and liabilities — 258,974 (275,568 ) (8,375 ) — (24,969 ) Net cash (used in) provided by operating activities (7,165 ) 123,666 (8,412 ) (10,000 ) — 98,089 Cash flows from investing activities: Proceeds from sale of assets or stations — — 15,718 — — 15,718 Restricted cash — (4,200 ) — — — (4,200 ) Acquisition less cash required — — (5,500 ) — — (5,500 ) Capital expenditures — (134 ) (13,267 ) — — (13,401 ) Net cash used in investing activities — (4,334 ) (3,049 ) — — (7,383 ) Cash flows from financing activities: Intercompany transactions, net (5,364 ) (41,365 ) 11,729 35,000 — — Repayments of borrowings under term loans and revolving credit facilities — (71,125 ) — (35,000 ) — (106,125 ) 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 106 — — — — 106 Proceeds from exercise of options 619 — — — — 619 Deferred financing costs — (21 ) — — — (21 ) Net cash (used in) provided by financing activities (4,639 ) (113,831 ) 11,729 10,000 — (96,741 ) (Decrease) increase in cash and cash equivalents (11,804 ) 5,501 268 — — (6,035 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 26,489 $ 268 $ — $ — $ 26,757

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On November 3, 2015, the Company received a notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company was not in compliance with NASDAQ Listing Rule 5450(a)(1) (the “Rule”) because the minimum bid price of the Company's common stock on the NASDAQ Global Select Market has closed below $1.00 per share for 30 consecutive business days. In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until May 2, 2016, to regain compliance with the requirements under the Rule. If, at any time before that date the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will notify the Company that it has achieved compliance with the Rule.

Description of Business, Inte20

Description of Business, Interim Financial Data and Basis of Presentation: (Policies)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015 , the cash flows for the nine months ended September 30, 2015 and the Company’s financial condition as of September 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 nine months ended September 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 September 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 September 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.” In August 2015, the FASB issued ASU 2015-14, which delayed the effective date of ASU 2014-09 by one year. Transition to the new guidance may be done using either a full or modified retrospective method. ASU 2014-09, as amended, is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2017. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently assessing the expected impact that this ASU, as amended, 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 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 2015-02 . 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 beginning after December 15, 2015, and interim periods thereafter. 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 require 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. In August 2015, the FASB issued ASU 2015-15, which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The ASUs will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods thereafter. 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, these ASUs 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 beginning after December 15, 2015, and interim periods thereafter. 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 beginning after December 15, 2015, 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 2015-16 . In September 2015, the FASB issued ASU 2015-16. The amendments in this ASU requires than an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount as if the accounting had been completed at the acquisition date. This ASU will be effective for fiscal years beginning after December 15, 2015, and interim periods thereafter. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this ASU will have 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	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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 September 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 ) Impairment losses (15,873 ) — (15,873 ) Amortization — (51,872 ) (51,872 ) Balance as of September 30, 2015 $ 1,578,066 $ 191,768 $ 1,769,834
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 September 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 ) Impairment losses (15,873 ) — (15,873 ) Amortization — (51,872 ) (51,872 ) Balance as of September 30, 2015 $ 1,578,066 $ 191,768 $ 1,769,834
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 September 30, 2015 and January 1, 2014 to September 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 (606 ) Disposition (1,129 ) (616 ) Impairment losses (549,711 ) — Balance as of September 30: Goodwill 1,582,806 1,585,260 Accumulated impairment losses (879,452 ) (329,741 ) Total $ 703,354 $ 1,255,519 The results of the Step 2 test and the calculated impairment charge for Reporting Unit 1 at September 30, 2015 follows (dollars in thousands): September 30, 2015 Fair Value Implied Goodwill Value Carrying Value of Goodwill Impairment Reporting Unit 1 $ 1,670,333 $ 336,509 $ 886,220 $ 549,711

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Components of Long-term Debt	The Company’s long-term debt consisted of the following as of September 30, 2015 and December 31, 2014 (dollars in thousands): September 30, 2015 December 31, 2014 Term Loan and Securitization Facility: Term loan $ 1,903,875 $ 1,903,875 Securitization facility — — Less: term loan discount (25,562 ) (28,748 ) Total Term Loan and Securitization Facility 1,878,313 1,875,127 7.75% senior notes 610,000 610,000 Less: Current portion of long-term debt — — Long-term debt, net $ 2,488,313 $ 2,485,127

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Fair Value Measurements at September 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 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 three and nine months ended September 30, 2015 , the Company recognized an impairment charge of $18.3 million and $19.4 million , respectively, 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): September 30, 2015 December 31, 2014 Term Loan: Carrying value $ 1,903,875 $ 1,903,875 Fair value - Level 2 1,608,774 1,856,278 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value - Level 2 437,675 617,625
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 September 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 September 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 September 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 (19,364 ) Fair value balance at September 30, 2015 $ —
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 September 30, 2015 (dollars in thousands): Description Contingent Consideration Fair value balance at January 1, 2015 $ (181 ) Mark to market adjustment — Fair value balance at September 30, 2015 $ (181 )

(Loss) Earnings Per Share ("EPS

(Loss) Earnings Per Share ("EPS") (Tables)	9 Months Ended
	Sep. 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 (loss) earnings per common share for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic (Loss) Income Per Share Numerator: Undistributed net (loss) income from continuing operations $ (542,179 ) $ 2,540 $ (541,895 ) $ 8,408 Less: Participation rights of the Company Warrants in undistributed earnings — 25 — 318 Participation rights of unvested restricted stock in undistributed earnings — 2 — 9 Basic undistributed net (loss) income attributable to common shares $ (542,179 ) $ 2,513 $ (541,895 ) $ 8,081 Denominator: Basic weighted average shares outstanding 233,556 231,885 233,322 224,075 Basic undistributed net (loss) income per share attributable to common shares $ (2.32 ) $ 0.01 $ (2.32 ) $ 0.04 Diluted (Loss) Income Per Share: Numerator: Undistributed net (loss) income from continuing operations $ (542,179 ) $ 2,540 $ (541,895 ) $ 8,408 Less: Participation rights of the Company Warrants in undistributed net earnings — 25 — 313 Participation rights of unvested restricted stock in undistributed earnings — 2 — 9 Basic undistributed net (loss) income attributable to common shares $ (542,179 ) $ 2,513 $ (541,895 ) $ 8,086 Denominator: Basic weighted average shares outstanding 233,556 231,885 233,322 224,075 Effect of dilutive stock options and warrants — 1,337 — 3,728 Diluted weighted average shares outstanding 233,556 233,222 233,322 227,803 Diluted undistributed net (loss) income per share attributable to common shares $ (2.32 ) $ 0.01 $ (2.32 ) $ 0.04

Supplemental Condensed Consol26

Supplemental Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Sep. 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 September 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 $ 289,316 $ — $ — $ 289,441 Operating expenses: Content costs — — 94,829 — — 94,829 Selling, general & administrative expenses — — 115,126 436 — 115,562 Depreciation and amortization — 384 25,163 — — 25,547 LMA fees — — 2,515 — — 2,515 Corporate expenses (including stock-based compensation expense of $12,304) — 34,253 — — — 34,253 Loss on sale of assets or stations — — 57 — — 57 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 18,308 — — 18,308 Total operating expenses — 34,637 821,582 436 — 856,655 Operating loss — (34,512 ) (532,266 ) (436 ) — (567,214 ) Non-operating (expense) income: Interest (expense) income, net (2,184 ) (33,460 ) 22 (47 ) — (35,669 ) Other expense, net — — (151 ) — — (151 ) Total non-operating expense, net (2,184 ) (33,460 ) (129 ) (47 ) — (35,820 ) Loss before income taxes (2,184 ) (67,972 ) (532,395 ) (483 ) — (603,034 ) Income tax benefit (expense) 704 (171,978 ) 233,254 (1,125 ) — 60,855 (Loss) earnings from consolidated subsidiaries (540,699 ) (300,749 ) (1,608 ) — 843,056 — Net (loss) income $ (542,179 ) $ (540,699 ) $ (300,749 ) $ (1,608 ) $ 843,056 $ (542,179 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine Months Ended September 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 $ — $ 375 $ 859,479 $ — $ — $ 859,854 Operating expenses: Content costs — — 286,655 — — 286,655 Selling, general & administrative expenses — — 348,919 1,498 — 350,417 Depreciation and amortization — 1,000 75,582 — — 76,582 LMA fees — — 7,585 — — 7,585 Corporate expenses (including stock-based compensation expense of $20,047) — 60,211 — — — 60,211 Loss on sale of assets or stations — — 792 — — 792 Impairment of intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Total operating expenses — 61,211 1,304,481 1,498 — 1,367,190 Operating loss — (60,836 ) (445,002 ) (1,498 ) — (507,336 ) Non-operating (expense) income: Interest (expense) income, net (6,552 ) (99,394 ) 407 (141 ) — (105,680 ) Other income, net — — 12,601 — — 12,601 Total non-operating (expense) income, net (6,552 ) (99,394 ) 13,008 (141 ) — (93,079 ) Loss before income taxes (6,552 ) (160,230 ) (431,994 ) (1,639 ) — (600,415 ) Income tax benefit (expense) 2,438 (120,572 ) 193,389 (16,735 ) — 58,520 (Loss) earnings from consolidated subsidiaries (537,781 ) (256,979 ) (18,374 ) — 813,134 — Net (loss) income $ (541,895 ) $ (537,781 ) $ (256,979 ) $ (18,374 ) $ 813,134 $ (541,895 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended September 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 $ 313,760 $ — $ — $ 313,885 Operating expenses: Content costs — — 106,574 — — 106,574 Selling, general & administrative expenses — — 119,455 409 — 119,864 Depreciation and amortization — 428 28,715 — — 29,143 LMA fees — — 2,021 — — 2,021 Corporate expenses (including stock-based compensation expense of $4,399) — 14,756 — — — 14,756 Gain on sale of assets or stations — — (373 ) — — (373 ) Total operating expenses — 15,184 256,392 409 — 271,985 Operating (loss) income — (15,059 ) 57,368 (409 ) — 41,900 Non-operating (expense) income: Interest (expense) income, net (2,184 ) (34,416 ) 352 (47 ) — (36,295 ) Other income, net — — 443 — — 443 Total non-operating (expense) income, net (2,184 ) (34,416 ) 795 (47 ) — (35,852 ) (Loss) income before income taxes (2,184 ) (49,475 ) 58,163 (456 ) — 6,048 Income tax benefit (expense) 1,427 31,750 (37,008 ) 323 — (3,508 ) Earnings (loss) from consolidated subsidiaries 3,297 21,022 (133 ) — (24,186 ) — Net income (loss) $ 2,540 $ 3,297 $ 21,022 $ (133 ) $ (24,186 ) $ 2,540 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine Months Ended September 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 $ — $ 354 $ 933,822 $ — $ — $ 934,176 Operating expenses: Content costs — — 316,868 — — 316,868 Selling, general & administrative expenses — — 352,036 1,552 — 353,588 Depreciation and amortization — 1,346 85,749 — — 87,095 LMA fees — — 5,226 — — 5,226 Corporate expenses (including stock-based compensation expense of $12,645) — 53,215 — — — 53,215 Gain on sale of assets or stations — — (1,271 ) — — (1,271 ) Total operating expenses — 54,561 758,608 1,552 — 814,721 Operating (loss) income — (54,207 ) 175,214 (1,552 ) — 119,455 Non-operating (expense) income: Interest (expense) income, net (7,165 ) (101,999 ) 1,024 (216 ) — (108,356 ) Other income, net — — 3,972 — — 3,972 Total non-operating (expense) income, net (7,165 ) (101,999 ) 4,996 (216 ) — (104,384 ) (Loss) income before income taxes (7,165 ) (156,206 ) 180,210 (1,768 ) — 15,071 Income tax benefit (expense) 3,168 69,064 (79,677 ) 782 — (6,663 ) Earnings (loss) from consolidated subsidiaries 12,405 99,547 (986 ) — (110,966 ) — Net income (loss) $ 8,408 $ 12,405 $ 99,547 $ (986 ) $ (110,966 ) $ 8,408
Condensed Consolidated Balance Sheets	CUMULUS MEDIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 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 $ — $ 84,245 $ — $ — $ — $ 84,245 Restricted cash — 8,422 — — — 8,422 Accounts receivable, less allowance for doubtful accounts of $5,758 — — — 228,093 — 228,093 Trade receivable — — 4,601 — — 4,601 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 28,614 30,747 — — 59,361 Total current assets — 121,281 80,505 228,093 — 429,879 Property and equipment, net — 3,897 178,616 — — 182,513 Broadcast licenses — — — 1,578,066 — 1,578,066 Other intangible assets, net — — 191,768 — — 191,768 Goodwill — — 703,354 — — 703,354 Investment in consolidated subsidiaries 111,978 3,768,315 1,062,021 — (4,942,314 ) — Intercompany receivables, net — 92,935 1,587,977 — (1,680,912 ) — Other assets — 28,918 105,204 601 (96,565 ) 38,158 Total assets $ 111,978 $ 4,015,346 $ 3,909,445 $ 1,806,760 $ (6,719,791 ) $ 3,123,738 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 51,222 $ 95,290 $ — $ — $ 146,512 Trade payable — — 4,632 — — 4,632 Total current liabilities — 51,222 99,922 — — 151,144 Long-term debt, excluding 7.75% Senior Notes — 1,878,313 — — — 1,878,313 7.75% Senior Notes — 610,000 — — — 610,000 Other liabilities — 3,949 41,208 — — 45,157 Intercompany payables, net 92,334 1,359,884 — 228,694 (1,680,912 ) — Deferred income taxes — — — 516,045 (96,565 ) 419,480 Total liabilities 92,334 3,903,368 141,130 744,739 (1,777,477 ) 3,104,094 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 750,000,000 shares authorized; 255,617,399 shares issued and 233,171,452 shares outstanding 2,555 — — — — 2,555 Class C common stock, par value $0.01 per share; 644,871 shares authorized, issued and outstanding 6 — — — — 6 Treasury stock, at cost, 22,445,947 shares (229,308 ) — — — — (229,308 ) Additional paid-in-capital 1,618,636 266,629 4,034,926 2,055,582 (6,357,137 ) 1,618,636 Accumulated (deficit) equity (1,372,245 ) (154,651 ) (266,611 ) (993,561 ) 1,414,823 (1,372,245 ) Total stockholders’ equity (deficit) 19,644 111,978 3,768,315 1,062,021 (4,942,314 ) 19,644 Total liabilities and stockholders’ equity (deficit) $ 111,978 $ 4,015,346 $ 3,909,445 $ 1,806,760 $ (6,719,791 ) $ 3,123,738 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 Nine Months Ended September 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 (loss) income $ (541,895 ) $ (537,781 ) $ (256,979 ) $ (18,374 ) $ 813,134 $ (541,895 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation and amortization — 1,000 75,582 — — 76,582 Amortization of debt issuance costs/discounts — 6,970 — 142 — 7,112 Provision for doubtful accounts — — 2,417 — — 2,417 Loss on sale of assets or stations — — 792 — — 792 Impairment of intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Deferred income taxes (2,438 ) 120,572 (193,389 ) 16,735 — (58,520 ) Stock-based compensation expense — 20,047 — — — 20,047 Earnings (loss) from consolidated subsidiaries 537,781 256,979 18,374 — (813,134 ) — Changes in assets and liabilities — 273,801 (278,592 ) 1,497 — (3,294 ) Net cash (used in) provided by operating activities (6,552 ) 141,588 (46,847 ) — — 88,189 Cash flows from investing activities Proceeds from sale of assets or stations — — 3,055 — — 3,055 Restricted cash — 1,633 — — — 1,633 Capital expenditures — (2,244 ) (13,573 ) — — (15,817 ) Net cash used in investing activities — (611 ) (10,518 ) — — (11,129 ) Cash flows from financing activities: Intercompany transactions, net 6,545 (63,907 ) 57,362 — — — Tax withholding payments on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 7 — — — — 7 Net cash provided by (used in) financing activities 6,552 (64,000 ) 57,362 — — (86 ) Increase (decrease) in cash and cash equivalents — 76,977 (3 ) — — 76,974 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 84,245 $ — $ — $ — $ 84,245 CUMULUS MEDIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine Months Ended September 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) $ 8,408 $ 12,405 $ 99,547 $ (986 ) $ (110,966 ) $ 8,408 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 1,346 85,749 — — 87,095 Amortization of debt issuance costs/discount — 6,886 — 143 — 7,029 Provision for doubtful accounts — — 2,468 — — 2,468 Gain on sale of assets or stations — — (1,271 ) — — (1,271 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (3,168 ) (69,064 ) 79,677 (782 ) — 6,663 Stock-based compensation expense — 12,645 — — — 12,645 (Loss) earnings from consolidated subsidiaries (12,405 ) (99,547 ) 986 — 110,966 — Changes in assets and liabilities — 258,974 (275,568 ) (8,375 ) — (24,969 ) Net cash (used in) provided by operating activities (7,165 ) 123,666 (8,412 ) (10,000 ) — 98,089 Cash flows from investing activities: Proceeds from sale of assets or stations — — 15,718 — — 15,718 Restricted cash — (4,200 ) — — — (4,200 ) Acquisition less cash required — — (5,500 ) — — (5,500 ) Capital expenditures — (134 ) (13,267 ) — — (13,401 ) Net cash used in investing activities — (4,334 ) (3,049 ) — — (7,383 ) Cash flows from financing activities: Intercompany transactions, net (5,364 ) (41,365 ) 11,729 35,000 — — Repayments of borrowings under term loans and revolving credit facilities — (71,125 ) — (35,000 ) — (106,125 ) 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 106 — — — — 106 Proceeds from exercise of options 619 — — — — 619 Deferred financing costs — (21 ) — — — (21 ) Net cash (used in) provided by financing activities (4,639 ) (113,831 ) 11,729 10,000 — (96,741 ) (Decrease) increase in cash and cash equivalents (11,804 ) 5,501 268 — — (6,035 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 26,489 $ 268 $ — $ — $ 26,757

Description of Business, Inte27

Description of Business, Interim Financial Data and Basis of Presentation (Narrative) (Details) people in Millions, $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)peopleMarketAffiliateStation
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of people reached each week through radio stations | people		245
Number of owned and operated radio stations | Station		454
Number of markets | Market		90
Number of radio stations (more than 8,200 broadcast radio stations) | Affiliate		8,200
Hurricane Katrina in 2005
Business Interruption Loss [Line Items]
Insurance proceeds from business interruption claim		$ 14.6
Hurricane Katrina in 2005 | Other Income
Business Interruption Loss [Line Items]
Insurance proceeds from business interruption claim	$ 12.4
Hurricane Katrina in 2005 | Corporate Expenses
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	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Aug. 01, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 703,354	$ 1,253,823	$ 1,255,519		$ 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	Sep. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 8,422	$ 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	9 Months Ended	12 Months Ended
	Sep. 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	1,578,066	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	191,768	243,640
Intangible Assets Total, Beginning Balance	1,840,355	1,911,827
Total Acquisitions		8,205
Total Dispositions	(2,776)	(659)
Indefinite-Lived, Impairment losses	(15,873)
Definite-Lived, Impairment losses	0
Impairment losses, Total	(15,873)
Amortization	(51,872)	(79,981)
Intangible Assets Total, Ending Balance	$ 1,769,834	$ 1,840,355

Changes in Goodwill (Detail)

Changes in Goodwill (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 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	(606)
Disposition	(1,129)	(616)
Impairment losses	(549,711)	0
Goodwill	1,582,806	1,585,260
Accumulated impairment losses	(879,452)	(329,741)
Total	$ 703,354	$ 1,255,519

Intangible Assets and Goodwil34

Intangible Assets and Goodwill -Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)Segment
Goodwill [Line Items]
Number of reporting units | Segment	3
Discount rate percentage	8.90%
Market capitalization value	$ 2,800,000
Aggregate fair value of all reporting units	2,600,000
Amount higher/ lower than market capitalization	$ 200,000
Percentage higher/ lower than the market capitalization	6.50%
Impairment of intangible assets	$ 15,873
Income Approach Valuation Technique
Goodwill [Line Items]
Total term	5 years
Income Approach Valuation Technique | FCC Licenses
Goodwill [Line Items]
Total term	3 years
Accelerated double declining balance duration	5 years

Intangible Assets and Goodwil35

Intangible Assets and Goodwill -Schedule of Calculated Impairment Charge of Reporting Unit (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Fair Value	$ 1,670,333
Implied Goodwill Value	336,509
Carrying Value of Goodwill	886,220
Impairment	$ 549,711	$ 0

Long term debt (Detail)

Long term debt (Detail) - USD ($) $ in Thousands	Sep. 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	2,488,313	2,485,127
Term Loan and Securitization Facility:
Debt Instrument [Line Items]
Less: term loan discount	(25,562)	(28,748)
Total Term Loan and Securitization Facility	1,878,313	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 ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 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	$ 7,112,000	$ 7,029,000
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		Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:			$ 17,339
Financial liabilities:		$ (181)	(181)
Equity interest in Pulser Media
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets:	[1]		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:			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:		0	17,339	[1]
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 three and nine months ended September 30, 2015, the Company recognized an impairment charge of $18.3 million and $19.4 million, respectively, 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 Liabilit39

Financial Assets and Liabilities and Non-Financial Assets and Liabilities Measured at Fair Value Additional Information (Detail) - USD ($) $ in Thousands	Sep. 13, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charges - equity interest in Pulser Media Inc.		$ 18,308	$ 0	$ 19,364	$ 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		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Less: Impairment charge		$ (18,308)	$ 0	$ (19,364)	$ 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, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015				(181)
Fair value balance at September 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 September 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				$ (19,364)
[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 three and nine months ended September 30, 2015, the Company recognized an impairment charge of $18.3 million and $19.4 million, respectively, related to the decline in the fair value of the equity interest in Pulser.

Quantitative Information Regard

Quantitative Information Regarding Significant Unobservable Inputs (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)Condition	Dec. 31, 2014USD ($)
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Bond equivalent yield discount rate	8.90%
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	$ 181	$ 181
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Fair Value	181	$ 181
WFME Asset Exchange | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | 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) | Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value Assets And Liabilities Measured On Unobservable Inputs [Line Items]
Total term	2 years
Fair Value	$ 150
Conditions | Condition	4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 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	84.50%	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	71.75%	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	Sep. 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	1,608,774	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	$ 437,675	$ 617,625

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2009$ / sharesshares	Sep. 30, 2015Class_Of_Stock$ / sharesshares	Sep. 30, 2015Class_Of_Stockvote$ / 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		300,000	300,000
Company Warrants
Class of Stock [Line Items]
Warrants outstanding		900,000	900,000
Company Warrants were converted into shares of Class A common stock since issuance		100,000	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		255,617,399	255,617,399	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 Expe45

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	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Installment$ / sharesshares	Sep. 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					$ 12,304	$ 4,399	$ 20,047	$ 12,645
Unrecognized stock-based compensation expense					6,800		$ 6,800
Weighted average remaining life for recognition of unrecognized compensation expense							2 years 3 months 29 days
Stock options exercised | shares							0	1,300,000
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]
Time-vesting stock options to purchase | shares				1,400,000
Grant date fair value				$ 3,300
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	$ 2,700
Number of stock options granted | shares							670,000	655,000
Total fair value of restricted stock awards vested					0	$ 0	$ 500	$ 2,100
Restricted Stock | Minimum
Share Based Compensation [Line Items]
Exercise price per share | $ / shares							$ 0.75
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
President and Chief Executive Officer | Corporate Expenses
Share Based Compensation [Line Items]
Accelerated compensation costs					$ 8,700		$ 8,700

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Denominator:
Basic weighted average shares outstanding	233,556,066	231,885,444	233,321,506	224,074,622
Diluted weighted average shares outstanding	233,556,066	233,222,153	233,321,506	227,802,636
Potentially dilutive equivalent shares outstanding	1,200,000		1,400,000
Basic Share
Numerator:
Undistributed net (loss) income from continuing operations	$ (542,179)	$ 2,540	$ (541,895)	$ 8,408
Less:
Basic undistributed net (loss) income attributable to common shares	$ (542,179)	$ 2,513	$ (541,895)	$ 8,081
Denominator:
Basic weighted average shares outstanding	233,556,000	231,885,000	233,322,000	224,075,000
Income per share	$ (2.32)	$ 0.01	$ (2.32)	$ 0.04
Diluted Share
Numerator:
Undistributed net (loss) income from continuing operations	$ (542,179)	$ 2,540	$ (541,895)	$ 8,408
Less:
Basic undistributed net (loss) income attributable to common shares	$ (542,179)	$ 2,513	$ (541,895)	$ 8,086
Denominator:
Basic weighted average shares outstanding	233,556,000	231,885,000	233,322,000	224,075,000
Effect of dilutive stock options and warrants	0	1,337,000	0	3,728,000
Diluted weighted average shares outstanding	233,556,000	233,222,000	233,322,000	227,803,000
Income per share	$ (2.32)	$ 0.01	$ (2.32)	$ 0.04
Warrants | Basic Share
Less:
Participation rights of the Company Warrants in undistributed earnings	$ 0	$ 25	$ 0	$ 318
Warrants | Diluted Share
Less:
Participation rights of the Company Warrants in undistributed earnings	0	25	0	313
Restricted Stock | Basic Share
Less:
Participation rights of unvested restricted stock in undistributed earnings, Basic	0	2	0	9
Restricted Stock | Diluted Share
Less:
Participation rights of unvested restricted stock in undistributed earnings, Diluted	$ 0	$ 2	$ 0	$ 9

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income tax (benefit) expense on pre-tax income	$ (60,855)	$ 3,508	$ (58,520)	$ 6,663
Pre-tax (loss) income	$ (603,034)	$ 6,048	$ (600,415)	$ 15,071
Effective income tax rate (percentage)	10.10%	58.30%	9.70%	44.40%
Federal statutory income tax rate (percentage)			35.00%	35.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Nov. 07, 2014USD ($)seller	Apr. 25, 2014USD ($)Station	Jan. 02, 2014USD ($)Station	Sep. 13, 2013USD ($)	Aug. 31, 2015lawsuit	Sep. 30, 2015USD ($)Affiliate	Sep. 30, 2015USD ($)Affiliate
Supply Commitment [Line Items]
Number of radio stations | Affiliate						8,200	8,200
ABS Entertainment, Inc, et al v Cumulus Media Inc and ABS Entertainment, Inc v Cumulus Media Inc | Pending Litigation
Supply Commitment [Line Items]
Number of punitive class action lawsuits | lawsuit					2
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
Corporate Expenses
Supply Commitment [Line Items]
Restructuring costs						$ 10.2	$ 10.2
Accounts Payable and Accrued Expenses
Supply Commitment [Line Items]
Liability recorded related to departures of executives						10.2	10.2
Exit Plan | Contract Termination | Accounts Payable and Accrued Expenses
Supply Commitment [Line Items]
Current restructuring liabilities						0.5	0.5
Exit Plan | Contract Termination | Non-current liabilities
Supply Commitment [Line Items]
Noncurrent restructuring liabilities						$ 4	4
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							$ 110.4

Supplemental Condensed Consol49

Supplemental Condensed Consolidating Financial Information (Narrative) (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Income Statements, Captions [Line Items]
Net revenue	$ 289,441	$ 313,885	$ 859,854	$ 934,176
Operating expenses:
Content costs	94,829	106,574	286,655	316,868
Selling, general & administrative expenses	115,562	119,864	350,417	353,588
Depreciation and amortization	25,547	29,143	76,582	87,095
LMA fees	2,515	2,021	7,585	5,226
Corporate expenses (including stock-based compensation expense of $12,304, $4,399, $20,047 and $12,645, respectively)	34,253	14,756	60,211	53,215
Loss on sale of assets or stations	57	(373)	792	(1,271)
Impairment of intangible assets and goodwill	565,584	0	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	18,308	0	19,364	0
Total operating expenses	856,655	271,985	1,367,190	814,721
Operating (loss) income	(567,214)	41,900	(507,336)	119,455
Non-operating (expense) income:
Interest (expense) income, net	(35,669)	(36,295)	(105,680)	(108,356)
Other (expense) income, net	(151)	443	12,601	3,972
Total non-operating expense, net	(35,820)	(35,852)	(93,079)	(104,384)
(Loss) income before income taxes	(603,034)	6,048	(600,415)	15,071
Income tax benefit (expense)	60,855	(3,508)	58,520	(6,663)
(Loss) earnings from consolidated subsidiaries	0	0	0	0
Net (loss) income	(542,179)	2,540	(541,895)	8,408
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 $12,304, $4,399, $20,047 and $12,645, respectively)	0	0	0	0
Loss on sale of assets or stations	0	0	0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	0	0	0	0
Operating (loss) income	0	0	0	0
Non-operating (expense) income:
Interest (expense) income, net	(2,184)	(2,184)	(6,552)	(7,165)
Other (expense) income, net	0	0	0	0
Total non-operating expense, net	(2,184)	(2,184)	(6,552)	(7,165)
(Loss) income before income taxes	(2,184)	(2,184)	(6,552)	(7,165)
Income tax benefit (expense)	704	1,427	2,438	3,168
(Loss) earnings from consolidated subsidiaries	(540,699)	3,297	(537,781)	12,405
Net (loss) income	(542,179)	2,540	(541,895)	8,408
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Income Statements, Captions [Line Items]
Net revenue	125	125	375	354
Operating expenses:
Content costs	0	0	0	0
Selling, general & administrative expenses	0	0	0	0
Depreciation and amortization	384	428	1,000	1,346
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $12,304, $4,399, $20,047 and $12,645, respectively)	34,253	14,756	60,211	53,215
Loss on sale of assets or stations	0	0	0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	34,637	15,184	61,211	54,561
Operating (loss) income	(34,512)	(15,059)	(60,836)	(54,207)
Non-operating (expense) income:
Interest (expense) income, net	(33,460)	(34,416)	(99,394)	(101,999)
Other (expense) income, net	0	0	0	0
Total non-operating expense, net	(33,460)	(34,416)	(99,394)	(101,999)
(Loss) income before income taxes	(67,972)	(49,475)	(160,230)	(156,206)
Income tax benefit (expense)	(171,978)	31,750	(120,572)	69,064
(Loss) earnings from consolidated subsidiaries	(300,749)	21,022	(256,979)	99,547
Net (loss) income	(540,699)	3,297	(537,781)	12,405
Subsidiary Guarantors
Condensed Income Statements, Captions [Line Items]
Net revenue	289,316	313,760	859,479	933,822
Operating expenses:
Content costs	94,829	106,574	286,655	316,868
Selling, general & administrative expenses	115,126	119,455	348,919	352,036
Depreciation and amortization	25,163	28,715	75,582	85,749
LMA fees	2,515	2,021	7,585	5,226
Corporate expenses (including stock-based compensation expense of $12,304, $4,399, $20,047 and $12,645, respectively)	0	0	0	0
Loss on sale of assets or stations	57	(373)	792	(1,271)
Impairment of intangible assets and goodwill	565,584		565,584
Impairment charges - equity interest in Pulser Media Inc.	18,308		19,364
Total operating expenses	821,582	256,392	1,304,481	758,608
Operating (loss) income	(532,266)	57,368	(445,002)	175,214
Non-operating (expense) income:
Interest (expense) income, net	22	352	407	1,024
Other (expense) income, net	(151)	443	12,601	3,972
Total non-operating expense, net	(129)	795	13,008	4,996
(Loss) income before income taxes	(532,395)	58,163	(431,994)	180,210
Income tax benefit (expense)	233,254	(37,008)	193,389	(79,677)
(Loss) earnings from consolidated subsidiaries	(1,608)	(133)	(18,374)	(986)
Net (loss) income	(300,749)	21,022	(256,979)	99,547
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	436	409	1,498	1,552
Depreciation and amortization	0	0	0	0
LMA fees	0	0	0	0
Corporate expenses (including stock-based compensation expense of $12,304, $4,399, $20,047 and $12,645, respectively)	0	0	0	0
Loss on sale of assets or stations	0	0	0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	436	409	1,498	1,552
Operating (loss) income	(436)	(409)	(1,498)	(1,552)
Non-operating (expense) income:
Interest (expense) income, net	(47)	(47)	(141)	(216)
Other (expense) income, net	0	0	0	0
Total non-operating expense, net	(47)	(47)	(141)	(216)
(Loss) income before income taxes	(483)	(456)	(1,639)	(1,768)
Income tax benefit (expense)	(1,125)	323	(16,735)	782
(Loss) earnings from consolidated subsidiaries	0	0	0	0
Net (loss) income	(1,608)	(133)	(18,374)	(986)
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 $12,304, $4,399, $20,047 and $12,645, respectively)	0	0	0	0
Loss on sale of assets or stations	0	0	0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Total operating expenses	0	0	0	0
Operating (loss) income	0	0	0	0
Non-operating (expense) income:
Interest (expense) income, net	0	0	0	0
Other (expense) income, net	0	0	0	0
Total non-operating expense, net	0	0	0	0
(Loss) income before income taxes	0	0	0	0
Income tax benefit (expense)	0	0	0	0
(Loss) earnings from consolidated subsidiaries	843,056	(24,186)	813,134	(110,966)
Net (loss) income	$ 843,056	$ (24,186)	$ 813,134	$ (110,966)

Supplemental Condensed Consol51

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Statements of Operations (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Stock-based compensation expense	$ 12,304	$ 4,399	$ 20,047	$ 12,645

Supplemental Condensed Consol52

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 84,245	$ 7,271	$ 26,757	$ 32,792
Restricted cash	8,422	10,055
Accounts receivable, less allowance for doubtful accounts	228,093	248,308
Trade receivable	4,601	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	59,361	87,730
Total current assets	429,879	370,826
Property and equipment, net	182,513	221,497
Broadcast licenses	1,578,066	1,596,715
Other intangible assets, net	191,768	243,640
Goodwill	703,354	1,253,823	1,255,519	1,256,741
Investment in consolidated subsidiaries	0	0
Intercompany receivables, net	0	0
Other assets	38,158	58,940
Total assets	3,123,738	3,745,441
Accounts payable and accrued expenses	146,512	151,658
Trade payable	4,632	3,964
Total current liabilities	151,144	155,622
Long-term debt, excluding 7.75% senior notes	1,878,313	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	45,157	55,121
Intercompany payables, net	0	0
Deferred income taxes	419,480	507,991
Total liabilities	3,104,094	3,203,861
Treasury stock, at cost	(229,308)	(231,588)
Additional paid-in-capital	1,618,636	1,600,963
Accumulated deficit	(1,372,245)	(830,350)
Total stockholders’ equity	19,644	541,580
Total liabilities and stockholders’ equity	3,123,738	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	111,978	627,363
Intercompany receivables, net	0	0
Other assets	0	0
Total assets	111,978	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	92,334	85,783
Deferred income taxes	0	0
Total liabilities	92,334	85,783
Treasury stock, at cost	(229,308)	(231,588)
Additional paid-in-capital	1,618,636	1,600,963
Accumulated deficit	(1,372,245)	(830,350)
Total stockholders’ equity	19,644	541,580
Total liabilities and stockholders’ equity	111,978	627,363
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	84,245	7,268	26,489	20,988
Restricted cash	8,422	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	28,614	66,020
Total current assets	121,281	83,343
Property and equipment, net	3,897	2,653
Broadcast licenses	0	0
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	3,768,315	4,154,147
Intercompany receivables, net	92,935	86,527
Other assets	28,918	32,776
Total assets	4,015,346	4,359,446
Accounts payable and accrued expenses	51,222	30,322
Trade payable	0	0
Total current liabilities	51,222	30,322
Long-term debt, excluding 7.75% senior notes	1,878,313	1,875,127
7.75% senior notes	610,000	610,000
Other liabilities	3,949	2,166
Intercompany payables, net	1,359,884	1,214,468
Deferred income taxes	0	0
Total liabilities	3,903,368	3,732,083
Treasury stock, at cost	0	0
Additional paid-in-capital	266,629	244,233
Accumulated deficit	(154,651)	383,130
Total stockholders’ equity	111,978	627,363
Total liabilities and stockholders’ equity	4,015,346	4,359,446
Subsidiary Guarantors
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	3	268	0
Restricted cash	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Trade receivable	4,601	2,455
Assets held for sale	45,157	15,007
Prepaid expenses and other current assets	30,747	21,710
Total current assets	80,505	39,175
Property and equipment, net	178,616	218,844
Broadcast licenses	0	0
Other intangible assets, net	191,768	243,640
Goodwill	703,354	1,253,823
Investment in consolidated subsidiaries	1,062,021	1,097,404
Intercompany receivables, net	1,587,977	1,462,776
Other assets	105,204	25,420
Total assets	3,909,445	4,341,082
Accounts payable and accrued expenses	95,290	121,336
Trade payable	4,632	3,964
Total current liabilities	99,922	125,300
Long-term debt, excluding 7.75% senior notes	0	0
7.75% senior notes	0	0
Other liabilities	41,208	52,955
Intercompany payables, net	0	0
Deferred income taxes	0	8,680
Total liabilities	141,130	186,935
Treasury stock, at cost	0	0
Additional paid-in-capital	4,034,926	4,163,779
Accumulated deficit	(266,611)	(9,632)
Total stockholders’ equity	3,768,315	4,154,147
Total liabilities and stockholders’ equity	3,909,445	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	228,093	248,308
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	0	0
Total current assets	228,093	248,308
Property and equipment, net	0	0
Broadcast licenses	1,578,066	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	601	744
Total assets	1,806,760	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	228,694	249,052
Deferred income taxes	516,045	499,311
Total liabilities	744,739	748,363
Treasury stock, at cost	0	0
Additional paid-in-capital	2,055,582	2,072,591
Accumulated deficit	(993,561)	(975,187)
Total stockholders’ equity	1,062,021	1,097,404
Total liabilities and stockholders’ equity	1,806,760	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	(4,942,314)	(5,878,914)
Intercompany receivables, net	(1,680,912)	(1,549,303)
Other assets	(96,565)	0
Total assets	(6,719,791)	(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	(1,680,912)	(1,549,303)
Deferred income taxes	(96,565)	0
Total liabilities	(1,777,477)	(1,549,303)
Treasury stock, at cost	0	0
Additional paid-in-capital	(6,357,137)	(6,480,603)
Accumulated deficit	1,414,823	601,689
Total stockholders’ equity	(4,942,314)	(5,878,914)
Total liabilities and stockholders’ equity	(6,719,791)	(7,428,217)
Class A common stock
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	2,555	2,549
Class A common stock | Cumulus Media Inc. (Parent Guarantor)
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock	2,555	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 Consol53

Supplemental Condensed Consolidating Financial Information Condensed Consolidating Balance Sheet (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	May. 13, 2011
Condensed Balance Sheet Statements, Captions [Line Items]
Allowance for doubtful accounts	$ 5,758	$ 6,004
Treasury stock, shares	22,445,947	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	255,617,399	254,997,925
Common stock, shares outstanding	233,171,452	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 State54

Condensed Consolidating Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net (loss) income	$ (542,179)	$ 2,540	$ (541,895)	$ 8,408
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization			76,582	87,095
Amortization of debt issuance costs/discounts	2,400	2,300	7,112	7,029
Provision for doubtful accounts			2,417	2,468
Loss (gain) on sale of assets or stations			792	(1,271)
Impairment of intangible assets and goodwill	565,584	0	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	18,308	0	19,364	0
Fair value adjustment of derivative instruments			0	21
Deferred income taxes			(58,520)	6,663
Stock-based compensation expense			20,047	12,645
Earnings (loss) from consolidated subsidiaries			0	0
Changes in assets and liabilities			(3,294)	(24,969)
Net cash provided by operating activities			88,189	98,089
Cash flows from investing activities:
Proceeds from sale of assets or stations			3,055	15,718
Restricted cash			1,633	(4,200)
Acquisition less cash acquired			0	(5,500)
Capital expenditures			(15,817)	(13,401)
Net cash used in investing activities			(11,129)	(7,383)
Cash flows from financing activities:
Intercompany transactions, net			0	0
Repayment of borrowings under term loans and revolving credit facilities			0	(106,125)
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			7	106
Proceeds from exercise of options			0	619
Deferred financing costs			0	(21)
Net cash used in financing activities			(86)	(96,741)
Increase (decrease) in cash and cash equivalents			76,974	(6,035)
Cash and cash equivalents at beginning of period			7,271	32,792
Cash and cash equivalents at end of period	84,245	26,757	84,245	26,757
Cumulus Media Inc. (Parent Guarantor)
Cash flows from operating activities:
Net (loss) income	(542,179)	2,540	(541,895)	8,408
Adjustments to reconcile net (loss) income 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 of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				0
Deferred income taxes			(2,438)	(3,168)
Stock-based compensation expense			0	0
Earnings (loss) from consolidated subsidiaries			537,781	(12,405)
Changes in assets and liabilities			0	0
Net cash provided by operating activities			(6,552)	(7,165)
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			0	0
Acquisition less cash acquired				0
Capital expenditures			0	0
Net cash used in investing activities			0	0
Cash flows from financing activities:
Intercompany transactions, net			6,545	(5,364)
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			7	106
Proceeds from exercise of options				619
Deferred financing costs				0
Net cash used in financing activities			6,552	(4,639)
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 (loss) income	(540,699)	3,297	(537,781)	12,405
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization			1,000	1,346
Amortization of debt issuance costs/discounts			6,970	6,886
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				21
Deferred income taxes			120,572	(69,064)
Stock-based compensation expense			20,047	12,645
Earnings (loss) from consolidated subsidiaries			256,979	(99,547)
Changes in assets and liabilities			273,801	258,974
Net cash provided by operating activities			141,588	123,666
Cash flows from investing activities:
Proceeds from sale of assets or stations			0	0
Restricted cash			1,633	(4,200)
Acquisition less cash acquired				0
Capital expenditures			(2,244)	(134)
Net cash used in investing activities			(611)	(4,334)
Cash flows from financing activities:
Intercompany transactions, net			(63,907)	(41,365)
Repayment of borrowings under term loans and revolving credit facilities				(71,125)
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			(64,000)	(113,831)
Increase (decrease) in cash and cash equivalents			76,977	5,501
Cash and cash equivalents at beginning of period			7,268	20,988
Cash and cash equivalents at end of period	84,245	26,489	84,245	26,489
Subsidiary Guarantors
Cash flows from operating activities:
Net (loss) income	(300,749)	21,022	(256,979)	99,547
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization			75,582	85,749
Amortization of debt issuance costs/discounts			0	0
Provision for doubtful accounts			2,417	2,468
Loss (gain) on sale of assets or stations			792	(1,271)
Impairment of intangible assets and goodwill	565,584		565,584
Impairment charges - equity interest in Pulser Media Inc.	18,308		19,364
Fair value adjustment of derivative instruments				0
Deferred income taxes			(193,389)	79,677
Stock-based compensation expense			0	0
Earnings (loss) from consolidated subsidiaries			18,374	986
Changes in assets and liabilities			(278,592)	(275,568)
Net cash provided by operating activities			(46,847)	(8,412)
Cash flows from investing activities:
Proceeds from sale of assets or stations			3,055	15,718
Restricted cash			0	0
Acquisition less cash acquired				(5,500)
Capital expenditures			(13,573)	(13,267)
Net cash used in investing activities			(10,518)	(3,049)
Cash flows from financing activities:
Intercompany transactions, net			57,362	11,729
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			57,362	11,729
Increase (decrease) in cash and cash equivalents			(3)	268
Cash and cash equivalents at beginning of period			3	0
Cash and cash equivalents at end of period	0	268	0	268
Subsidiary Non-guarantors
Cash flows from operating activities:
Net (loss) income	(1,608)	(133)	(18,374)	(986)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization			0	0
Amortization of debt issuance costs/discounts			142	143
Provision for doubtful accounts			0	0
Loss (gain) on sale of assets or stations			0	0
Impairment of intangible assets and goodwill	0		0
Impairment charges - equity interest in Pulser Media Inc.	0		0
Fair value adjustment of derivative instruments				0
Deferred income taxes			16,735	(782)
Stock-based compensation expense			0	0
Earnings (loss) from consolidated subsidiaries			0	0
Changes in assets and liabilities			1,497	(8,375)
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
Acquisition less cash acquired				0
Capital expenditures			0	0
Net cash used in 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 (loss) income	843,056	(24,186)	813,134	(110,966)
Adjustments to reconcile net (loss) income 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 of intangible assets and goodwill	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			(813,134)	110,966
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
Acquisition less cash acquired				0
Capital expenditures			0	0
Net cash used in 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