Cumulus Media (CMLS) 10-K 16 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 03, 2017	Jun. 30, 2016
Document Information [Line Items]
Document type	10-K
Amendment flag	false
Document period end date	Dec. 31, 2016
Document fiscal year focus	2,016
Document fiscal period focus	FY
Trading symbol	CMLS
Entity registrant name	CUMULUS MEDIA INC
Entity central index key	1,058,623
Current fiscal year end date	--12-31
Entity well-known seasoned issuer	No
Entity current reporting status	Yes
Entity voluntary filers	No
Entity filer category	Smaller Reporting Company
Entity public float			$ 38
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		29,225,765
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		80,609

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 131,259	$ 31,657
Restricted cash	8,025	7,981
Accounts receivable, less allowance for doubtful accounts of $4,691 and $4,923 in 2016 and 2015, respectively	231,585	243,428
Trade receivable	4,985	4,146
Assets held for sale	30,150	45,157
Prepaid expenses and other current assets	33,923	26,906
Total current assets	439,927	359,275
Property and equipment, net	162,063	169,437
Broadcast licenses	1,540,183	1,578,066
Other intangible assets, net	116,499	174,530
Goodwill	135,214	703,354
Other assets	18,805	17,726
Total assets	2,412,691	3,002,388
Current liabilities:
Accounts payable and accrued expenses	96,241	118,396
Trade payable	4,550	4,374
Total current liabilities	100,791	122,770
Term loan, net of debt issuance costs/discounts of $29,909 and $37,524 at December 31, 2016 and 2015, respectively	1,780,357	1,801,416
7.75% senior notes, net of debt issuance costs of $6,200 and $8,515 at December 31, 2016 and 2015, respectively	603,800	601,485
Other liabilities	31,431	44,804
Deferred income taxes	388,050	415,881
Total liabilities	2,904,429	2,986,356
Commitments and Contingencies (Note 13)
Stockholders’ (deficit) equity:
Treasury stock, at cost, 2,806,187 and 2,805,743 shares at 2016 and 2015, respectively	(229,310)	(229,310)
Additional paid-in-capital	1,624,815	1,621,865
Accumulated deficit	(1,887,564)	(1,376,844)
Total stockholders’ (deficit) equity	(491,738)	16,032
Total liabilities and stockholders’ equity	2,412,691	3,002,388
Class A Common Stock
Stockholders’ (deficit) equity:
Common stock	320	320
Class C Common Stock
Stockholders’ (deficit) equity:
Common stock	$ 1	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	May 13, 2011
Allowance for doubtful accounts	$ 4,691	$ 4,923
Debt issuance cost (premium)	$ 29,909	$ 37,524
Treasury stock, shares	2,806,187	2,805,743
Class A Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	93,750,000	93,750,000
Common stock, shares issued	32,031,054	31,987,862
Common stock, shares outstanding	29,225,765	29,182,118
Class C Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	80,609	80,609
Common stock, shares issued	80,609	80,609
Common stock, shares outstanding	80,609	80,609
7.75% Senior Notes
Interest rate	7.75%	7.75%	7.75%
Debt issuance costs	$ 6,200	$ 8,515

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net revenue	$ 1,141,400	$ 1,168,679	$ 1,263,423
Operating expenses:
Content costs	427,780	396,426	433,596
Selling, general & administrative expenses	472,900	477,327	470,441
Depreciation and amortization	87,267	102,105	115,275
LMA fees	12,824	10,129	7,195
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)	40,148	73,403	76,428
(Gain) loss on sale of assets or stations	(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill	604,965	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	0	19,364	0
Total operating expenses	1,550,189	1,647,194	1,101,593
Operating (loss) income	(408,789)	(478,515)	161,830
Non-operating expense:
Interest expense	(138,634)	(141,679)	(145,533)
Interest income	493	433	1,388
Gain on early extinguishment of debt	8,017	13,222	0
Other income, net	2,039	14,205	4,338
Total non-operating expense, net	(128,085)	(113,819)	(139,807)
(Loss) income before income taxes	(536,874)	(592,334)	22,023
Income tax benefit (expense)	26,154	45,840	(10,254)
Net (loss) income	$ (510,720)	$ (546,494)	$ 11,769
Basic and diluted (loss) income per common share (see Note 11, “Earnings (Loss) Per Share”):
Basic: (Loss) income per share (in USD per share)	$ (17.45)	$ (18.72)	$ 0.40
Diluted: (Loss) income per share (in USD per share)	$ (17.45)	$ (18.72)	$ 0.40
Weighted average basic common shares outstanding (in shares)	29,270,455	29,176,930	28,267,807
Weighted average diluted common shares outstanding (in shares)	29,270,455	29,176,930	28,620,395

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Stock-based compensation expense	$ 2,948	$ 21,033	$ 17,638

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Class A Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockClass C Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2013			27,799,878	1,928,118	80,609	3,025,650
Beginning balance at Dec. 31, 2013	$ 512,740		$ 278	$ 19	$ 1	$ (251,193)	$ 1,605,754	$ (842,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	11,769							11,769
Conversion of equity upon exercise of warrants (in shares)			1,990,123			5,115
Conversion of equity upon exercise of warrants	113		$ 20			$ (270)	363
Shares returned in lieu of tax payments (in shares)						24,859
Shares returned in lieu of tax payments	(1,332)					$ (1,332)
Restricted shares issued from treasury (in shares)						(11,664)
Restricted shares issued from treasury	0					$ 956	(956)
Stock option exercises (in shares)			156,623			88,273
Stock option exercises	620		$ 2			$ (4,730)	5,348
Stock based compensation expense	17,638						17,638
Other	32						32
Stock conversion (in shares)			1,928,117	1,928,118
Stock conversion			$ 19	$ (19)
Citadel Bankruptcy shares issued (in shares)						(304,789)
Citadel Bankruptcy shares issued						$ 24,981	(24,981)
Ending balance (in shares) at Dec. 31, 2014			31,874,741	0	80,609	2,827,444
Ending balance at Dec. 31, 2014	541,580		$ 319	$ 0	$ 1	$ (231,588)	1,603,198	(830,350)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(546,494)							(546,494)
Conversion of equity upon exercise of warrants (in shares)			113,121			6,288
Conversion of equity upon exercise of warrants	6		$ 1			$ (115)	120
Shares returned in lieu of tax payments	(93)					$ (93)
Restricted shares issued from treasury (in shares)						(27,989)
Restricted shares issued from treasury	0					$ 2,486	(2,486)
Stock option exercises (in shares)		0
Stock based compensation expense	21,033						21,033
Ending balance (in shares) at Dec. 31, 2015			31,987,862	0	80,609	2,805,743
Ending balance at Dec. 31, 2015	16,032		$ 320	$ 0	$ 1	$ (229,310)	1,621,865	(1,376,844)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(510,720)							(510,720)
Conversion of equity upon exercise of warrants (in shares)			43,192
Conversion of equity upon exercise of warrants	2		$ 0				2
Stock option exercises (in shares)		0
Stock based compensation expense	2,948						2,948
Other (in shares)						444
Other	0						0	0
Ending balance (in shares) at Dec. 31, 2016			32,031,054	0	80,609	2,806,187
Ending balance at Dec. 31, 2016	$ (491,738)		$ 320	$ 0	$ 1	$ (229,310)	$ 1,624,815	$ (1,887,564)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net (loss) income	$ (510,720)	$ (546,494)	$ 11,769
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	87,267	102,105	115,275
Amortization of debt issuance costs/discounts	9,961	9,541	9,493
Provision for doubtful accounts	1,103	4,501	4,302
(Gain) loss on sale of assets or stations	(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill	604,965	565,584	0
Impairment charges - equity interest in Pulser Media Inc.	0	19,364	0
Fair value adjustment of derivative instruments	0	0	21
Deferred income taxes	(27,831)	(48,262)	6,902
Stock-based compensation expense	2,948	21,033	17,638
Gain on early extinguishment of debt	(8,017)	(13,222)	0
Changes in assets and liabilities (excluding acquisitions and dispositions):
Accounts receivable	10,740	371	12,195
Trade receivable	(839)	(1,691)	1,964
Prepaid expenses and other current assets	(7,017)	16,983	(14,750)
Other assets	(1,106)	(6,208)	(6,716)
Accounts payable and accrued expenses	(16,816)	(34,122)	7,074
Trade payable	176	410	118
Other liabilities	(13,374)	(10,317)	(27,147)
Net cash provided by operating activities	35,745	82,432	136,796
Cash flows from investing activities:
Restricted cash	(44)	2,074	(3,909)
Proceeds from sale of assets or stations	106,935	9,201	15,843
Capital expenditures	(23,037)	(19,236)	(19,006)
Acquisitions less cash acquired	0	0	(8,500)
Net cash provided by (used in) investing activities	83,854	(7,961)	(15,572)
Cash flows from financing activities:
Repayment of borrowings under term loans and revolving credit facilities	(20,000)	(50,000)	(156,125)
Proceeds from borrowings under term loans and revolving credit facilities	0	0	10,000
Tax withholding payments on behalf of employees	0	(93)	(1,332)
Proceeds from exercise of warrants	3	8	113
Proceeds from exercise of options	0	0	620
Deferred financing costs	0	0	(21)
Net cash used in financing activities	(19,997)	(50,085)	(146,745)
Increase (decrease) in cash and cash equivalents	99,602	24,386	(25,521)
Cash and cash equivalents at beginning of period	31,657	7,271	32,792
Cash and cash equivalents at end of period	131,259	31,657	7,271
Supplemental disclosures of cash flow information:
Interest paid	126,515	129,314	135,392
Income taxes paid	4,451	2,620	9,633
Supplemental disclosures of non-cash flow information:
Trade revenue	37,691	39,237	34,876
Trade expense	36,158	40,427	36,753
Transfer of deposit from escrow - Los Angeles land and building sale	6,000	0	0
Equity Interest in Pulser Media Inc
Supplemental disclosures of non-cash flow information:
Equity interest in Pulser Media, Inc.	$ 0	$ 2,025	$ 17,235

Description of Business, Basis

Description of Business, Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies	Description of Business, Basis of Presentation and Summary of Significant Accounting Policies 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. Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reverse Stock Split On October 12, 2016, the Company effected a one-for-eight (1: 8 ) reverse stock split (the "Reverse Stock Split"). As a result of the Reverse Stock Split, every eight shares of each class of the Company's outstanding common stock were combined into one share of the same class of common stock and the authorized shares of each class of the Company's common stock were reduced by the same ratio. No fractional shares were issued in connection with the Reverse Stock Split. The number and strike price of the Company's outstanding stock options and warrants were adjusted proportionally, as appropriate. The par value of the Company's common stock was not adjusted as a result of the Reverse Stock Split. All authorized, issued and outstanding stock and per share amounts contained within the accompanying unaudited condensed consolidated financial statements and these footnotes have been retroactively adjusted to reflect this Reverse Stock Split for all periods presented. Out of Period Adjustment In connection with the preparation of the unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2016, we recorded a correction of an immaterial misstatement that occurred in prior periods, which resulted in an increase in content costs of $3.6 million in the second quarter of 2016. The correction related to the Radio Station Group segment only and was not material to the prior year quarterly or annual results. The effect of this correction is not material to the 2016 annual financial statements. Reportable Segments During the first quarter of 2016, the Company modified its management reporting framework affecting how the Company evaluates operating performance and internally reports financial information. This modification resulted in a reorganization of the Company's reportable segments. Prior to this reorganization, the Company operated in one reportable business segment which consisted of radio broadcasting, advertising and related services. The Company now operates in two reportable segments, the Radio Station Group and Westwood One, for which there is discrete financial information available and whose operating results are reviewed by the chief operating decision maker. Historical information included in these financial statements has been revised to reflect the change to two segments, with no impact to previously disclosed consolidated results (See Note 4, "Intangible Assets and Goodwill" and Note 16, "Segment Data"). Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 evaluated its estimates, including significant estimates related to revenue recognition, bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, and, if applicable, purchase price allocation. The Company based 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. Comprehensive Income Comprehensive income (loss) includes net income (loss) and certain items that are excluded from net income (loss) and recorded as a separate component of stockholders' equity (deficit). During the years ended December 31, 2016, 2015 and 2014, the Company had no items of other comprehensive income (loss) and, therefore, comprehensive income does not differ from reported net income (loss). Cash and Cash Equivalents The Company considered all highly liquid investments with original maturities of three months or less to be cash equivalents. Accounts Receivable, Allowance for Doubtful Accounts and Concentration of Credit Risk Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determined the allowance based on several factors, including the length of time receivables are past due, trends and current economic factors. All balances are reviewed and evaluated quarterly on a consolidated basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. In the opinion of management, credit risk with respect to accounts receivable is limited due to the large number of customers and the geographic diversification of the Company’s customer base. The Company performs ongoing credit evaluations of its customers and believes that adequate allowances for any uncollectible accounts receivable are maintained. Assets Held for Sale During the year ended December 31, 2015 , the Company entered into an agreement to sell certain land in the Company's Washington, DC market to a third party. The closing of the transaction is subject to various conditions and approvals, which remain pending. The identified assets have been classified as held for sale in the accompanying consolidated balance sheets at December 31, 2016 and 2015 . The estimated fair value of the land and buildings to be disposed of are in excess of their carrying value. Dispositions On August 30, 2016, the Company completed the sale of certain land and buildings in Los Angeles for $110.6 million in cash. In conjunction with this sale, the Company recorded a net gain of $94.0 million , which is included in (gain) loss on sale of assets or stations in the accompanying consolidated statements of operations for the year-ended December 31, 2016. The identified assets were classified as held for sale in the accompanying December 31, 2015 consolidated balance sheet. Insurance Recoveries During the year ended December 31, 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 income (expense), net and $2.2 million as an offset to corporate expenses in the consolidated statement of operations for the year ended December 31, 2015. Property and Equipment Property and equipment are stated at cost. Property and equipment acquired in business combinations accounted for under the purchase method of accounting are recorded at their estimated fair values on the date of acquisition. Equipment held under capital leases is stated at the present value of minimum future lease payments. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the assets. Equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining term of the lease. Depreciation of construction in progress is not recorded until the assets are placed into service. Impairment of Long-Lived Assets Long-lived assets, such as property and equipment and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Intangible Assets and Goodwill The Company’s intangible assets are comprised of broadcast licenses, certain other intangible assets and goodwill. Goodwill is equal to the difference between the purchase price and the value assigned to the tangible and intangible assets acquired and liabilities assumed in a business combination. Intangible assets and goodwill acquired in a business combination and determined to have an indefinite useful life, which include the Company’s broadcast licenses, are not amortized, but instead tested for impairment at least annually, or if a triggering event occurs. Intangible assets with definite useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. In determining that the Company’s broadcast licenses qualified as indefinite lived intangibles, management considered a variety of factors including the Federal Communications Commission’s (“FCC”) historical record of renewing broadcast licenses, the cost to the Company of renewing such licenses, the relative stability and predictability of the radio industry and the relatively low level of capital investment required to maintain the physical plant of a radio station. The Company's evaluation of the recoverability of its indefinite-lived assets, which include FCC licenses and goodwill, is based on certain judgments and estimates. Future events may impact these judgments and estimates. If events or changes in circumstances were to indicate that an asset’s carrying value is not recoverable, a write-down of the asset would be recorded through a charge to operations. Investments The Company follows Accounting Standards Codification (“ASC”) Topic 325-20, Cost Method Investments (“ASC 325-20”) to account for its ownership interest in noncontrolled entities. Under ASC 325-20, equity securities that do not have readily determinable fair values (i.e., non-marketable equity securities) and are not required to be accounted for under the equity method are typically carried at cost (i.e., cost method investments). Investments of this nature are initially recorded at cost. Income is recorded for dividends received that are distributed from net accumulated earnings of the noncontrolled entity subsequent to the date of investment. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions in the cost of the investment. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred. During the year ended December 31, 2015, the Company recognized an impairment charge of $19.4 million related to the decline in the fair value of a cost-method investment. During the year ended December 31, 2014, the Company sold one of its cost method investments for $13.0 million , recognizing a gain on sale of $3.2 million , which is included in other income, net in the consolidated statement of operations. As of December 31, 2016 and 2015 , there were no cost-method investments in the consolidated balance sheets. Debt Issuance Costs The costs related to the issuance of debt are capitalized and amortized to interest expense over the life of the related debt using the effective interest method. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03. The amendments in this ASU required 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. We adopted this standard retrospectively in the first quarter of 2016. The balance sheet as of December 31, 2015 was retrospectively adjusted, which resulted in reductions to other assets of $22.4 million and long-term debt of $22.4 million . Derivative Financial Instruments The Company recognizes all derivatives on the consolidated balance sheets at fair value. Fair value changes are recorded as income for any contracts not classified as qualifying hedging instruments. Revenue Recognition Revenue is derived primarily from the sale of commercial airtime to local and national advertisers. Revenue is recognized as commercials are broadcast. Revenues presented in the financial statements are reflected on a net basis, after the deduction of advertising agency fees by the advertising agencies, usually at a rate of 15.0% , which is the industry standard. In those instances in which we function as the principal in the transaction, the revenue and associated operating costs are presented on a gross basis. In those instances where we function as an agent or sales representative, our effective commission is presented as revenue with no corresponding operating expenses. Advertising Costs Advertising costs are expensed as incurred. For the years ended December 31, 2016 , 2015 , and 2014 , the costs incurred were $4.9 million , $3.9 million and $1.9 million , respectively. Local Marketing Agreements In certain circumstances, the Company may enter into a local marketing agreement (“LMA”) or time brokerage agreement with an FCC licensee of a radio station. In a typical LMA, the licensee of the station makes available, for a fee, airtime on its station to a party, which supplies programming to be broadcast on that airtime, and collects revenues from advertising aired during such programming. Revenues earned and fees incurred pursuant to LMAs or time brokerage agreements are recognized at their gross amounts in the accompanying consolidated statements of operations. As of December 31, 2016 , the Company operated five radio stations under LMAs. At each of December 31, 2015 and 2014 , the Company operated six radio stations under LMAs. The stations operated under LMAs contributed $23.2 million , $24.5 million , and $22.6 million in 2016 , 2015 , and 2014 , respectively, to the consolidated net revenue of the Company. Stock-based Compensation Expense Stock-based compensation expense recognized under ASC Topic 718, Compensation — Share-Based Payment (“ASC 718”), for the years ended December 31, 2016 , 2015 and 2014 , was $2.9 million , $21.0 million , and $17.6 million , respectively. Upon adopting ASC 718 for awards with service conditions, an election was made to recognize stock-based compensation expense on a straight-line basis over the requisite service period for the entire award. For stock options with service conditions only, the Company utilized the Black-Scholes option pricing model to estimate the fair value of options issued. For restricted stock awards with service conditions, the Company utilized the intrinsic value method. For restricted stock awards with performance conditions, the Company evaluated the probability of vesting of the awards in each reporting period and adjusted compensation cost based on this assessment. The fair value is based on the use of certain assumptions regarding a number of highly complex and subjective variables. If other assumptions are used, the results could differ. Trade Transactions The Company provided commercial airtime in exchange for goods and services used principally for promotional, sales, programming and other business activities. An asset and liability is recorded at the fair value of the goods or services received. Trade revenue is recorded and the liability is relieved when commercials are broadcast and trade expense is recorded and the asset relieved when goods or services are consumed. Trade valuation is based upon management’s estimate of the fair value of the products, supplies and services received. For the years ended December 31, 2016 , 2015 , and 2014 , amounts reflected under trade transactions were: (1) trade revenues of $37.7 million , $39.2 million and $34.9 million , respectively; and (2) trade expenses of $36.2 million , $40.4 million and $36.8 million , respectively. Income Taxes The Company used the liability method of accounting for deferred income taxes. Deferred income taxes are recognized for all temporary differences between the tax and financial reporting bases of the Company’s assets and liabilities based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recorded for a net deferred tax asset balance when it is more likely than not that the benefits of the tax asset will not be realized. The Company continues to assess the need for its deferred tax asset valuation allowance in the jurisdictions in which it operates. Any adjustment to the deferred tax asset valuation allowance is recorded in the income statement of the period that the adjustment is determined to be required. See Note 13, “Income Taxes” for further discussion. Earnings per Share Basic income (loss) per share is computed on the basis of the weighted average number of common shares outstanding. The Company allocated undistributed net income (loss) from continuing operations between each class of common stock on an equal basis after any allocations for preferred stock dividends in accordance with the terms of the Company’s third amended and restated certificate of incorporation, as amended (the “Third Amended and Restated Charter”). Non-vested restricted shares of Class A common stock and Company Warrants (defined below) are considered participating securities for purposes of calculating basic weighted average common shares outstanding in periods in which the Company recorded net income. Diluted earnings per share is computed in the same manner as basic earnings per share after assuming the issuance of common stock for all potentially dilutive equivalent shares, which included stock options and certain other outstanding warrants to purchase common stock. Antidilutive instruments are not considered in this calculation. Under the two-class method, net income is allocated to common stock and participating securities to the extent that each security may share in earnings, as if all of the earnings for the period had been distributed. Earnings are allocated to each participating security and common share equally, after deducting dividends declared or accreted on preferred stock. Fair Values of Financial Instruments The carrying values of cash equivalents, restricted cash, accounts receivables, accounts payable, trade payables and receivables and accrued expenses approximate fair value due to the short term to maturity of these instruments (See Note 7, "Fair Value Measurements"). Accounting for National Advertising Agency Contract The Company has engaged Katz Media Group, Inc. (“Katz”) as its national advertising sales agent. The Company’s contract with Katz has several economic elements that principally reduce the overall expected commission rate below the stated base rate. The Company estimates the overall expected commission rate over the entire contract period and applies that rate to commissionable revenue throughout the contract period with the goal of estimating and recording a stable commission rate over the life of the contract. The potential commission adjustments are estimated and combined in the consolidated balance sheets with the contractual termination liability. That liability is accreted to commission expense to effectuate the stable commission rate over the term of the Katz contract. Over the term of the contract with Katz, management updates its assessment of the effective commission expense attributable to national sales in an effort to record a consistent commission rate in each period. The Company’s accounting for and calculation of commission expense to be realized over the life of the Katz contract requires management to make estimates and judgments that affect reported amounts of commission expense in each period. Actual results in any period may differ from management’s estimates. Variable Interest Entities The Company accounted for entities qualifying as variable interest entities (“VIEs”) in accordance with ASC Topic 810, Consolidation (“ASC 810”). VIEs are required to be consolidated by the primary beneficiary. The primary beneficiary is the entity that holds the majority of the beneficial interests in the VIE. A VIE is an entity for which the primary beneficiary’s interest in the entity can change with changes in factors other than the amount of investment in the entity. From time to time, the Company enters into LMAs in connection with pending acquisitions or dispositions of radio stations and the requirements of ASC 810 may apply, depending on the facts and circumstances related to each transaction. Adoption of New Accounting Standards ASU 2015-03. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. We adopted this standard retrospectively in the first quarter of 2016. The balance sheet as of December 31, 2015 was retrospectively adjusted, which resulted in reductions to other assets of $22.4 million and long-term debt of $22.4 million . ASU 2014-15. In August 2014, the FASB issued ASU 2014-15. The amendments in this ASU 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. These amendments should standardize the timing and content of footnote disclosures. The Company adopted this ASU effective December 31, 2016. The adoption of this guidance did not have an impact on the consolidated financial statements. Recent Accounting Standards Updates ASU 2014-09 and related updates. 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. In March 2016, the FASB issued ASU 2016-08 which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10 which amends the revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations as well as clarifies when a promised good or service is separately identifiable. In May 2016, the FASB issued ASU 2016-12 which provides clarifying guidance in certain narrow areas such as an assessment of collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition as well as adds some practical expedients. In December 2016, the FASB issued ASU 2016-20 which provides technical corrections and improvements to Topic 606. The amendments in ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 may be applied either retrospectively to each prior period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and 2016-20 at the date of initial application. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. The new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. The Company does not plan to early adopt, and accordingly, will adopt the new standard effective January 1, 2018. The Company is currently evaluating the adoption approach. The Company's final determination will depend on a number of factors, such as the significance of the impact of the new standard on our financial results, system readiness, and our ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements and the Company's ability to maintain two sets of financials under current and new standards if we were to adopt the full retrospective approach. The Company is in the initial stages of our evaluation of the impact of the new standard on our accounting policies, processes, and system requirements. The Company has assigned internal resources to the evaluation to enable timely and accurate reporting under the new standard. The Company continues to assess the potential impacts of the new standard, including the areas described above, and anticipate this standard could have a material impact on our consolidated financial statements, we do not know or cannot reasonably estimate quantitative information related to the impact of the new standard on our financial statements at this time. ASU 2016-01. In January 2016, the FASB issued ASU 2016-01. The amendments in this ASU enhance the reporting model for financial instruments including aspects of recognition, measurement, presentation and disclosure of financial instruments. The new guidance revises the accounting requirements related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The update also changes certain disclosure requirements associated with the fair value of financial instruments. These changes will require an entity to measure, at fair value, investments in equity securities and other ownership interests in an entity - including investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method - and recognize the changes in fair value within net income. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is not permitted, except for certain amendments within the ASU. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2016-02. In February 2016, the FASB issued ASU 2016-02. The amendments in this ASU provide guidance for accounting for leases. This update requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods thereafter. A modified retrospective transition method is required, with the option to elect a package of practical expedients. Early adoption is permitted. The Company is currently assessing the expected impact that this ASU will have on the consolidated financial statements. ASU 2016-09. In March 2016, the FASB issued ASU 2016-09. The amendments in this ASU provide guidance for employee share-based payment accounting. This update removes the requirement that reporting entities present tax benefits as excess cash flows from financing activities and cash flows from operating activities. As a result of this amendment, cash flows related to excess tax benefits will be classified only in operating activities. This ASU will be effective for fiscal years beginning after December 15, 2016, and interim periods thereafter. The Company does not expect that this ASU will have a material impact on the consolidated financial statements. ASU 2016-15 . In August 2016, the FASB issued ASU 2016-15. The amendments in the ASU provide guidance for several new and/or revised disclosures pertaining to the classification of certain cash receipts and cash payments on the statement of cash flows, including contingent consideration payments made after a business acquisition. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2016-16 . In October 2016, the FASB issued ASU 2016-16. The amendments in the ASU provide guidance for the accounting for the income tax consequences of intra-entity transfers of assets other than inventory when the transfer occurs between entities in different tax jurisdictions. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2016-18 . In November 2016, the FASB issued ASU 2016-18. The amendments in the ASU provide guidance for the accounting for the disclosure of restricted cash on the Statement of Cash Flows. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2017-01. In January 2017, the FASB issued final guidance that revises the definition of a business. The definition of a business affects many areas of accounting (e.g., acquisitions, disposals, goodwill impairment, consolidation). According to feedback received by the FASB, application of the current guidance is commonly thought to be too complex and results in too many transactions qualifying as business combinations. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2017-04. In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The new standar

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash As of both years, December 31, 2016 and 2015 , the Company’s balance sheets included approximately $8.0 million in restricted cash of which $6.5 million and $7.4 million , respectively, relating to collateralizing standby letters of credit pertaining to certain leases and insurance policies. In addition, $1.5 million and $0.6 million , respectively, related to securing the maximum exposure generated by automated clearinghouse transactions in the Company's operating bank accounts and as dictated by the Company's banks' internal policies with respect to cash.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following as of December 31, 2016 and 2015 (dollars in thousands): Estimated Useful Life 2016 2015 Land $ 63,484 $ 63,627 Broadcasting and other equipment 3 to 30 years 234,760 229,989 Computer and capitalized software costs 1 to 3 years 29,591 28,959 Furniture and fixtures 5 years 14,899 14,183 Leasehold improvements 5 years 40,242 36,242 Buildings 9 to 20 years 46,351 45,988 Construction in progress 14,036 2,043 443,363 421,031 Less: accumulated depreciation (281,300 ) (251,594 ) $ 162,063 $ 169,437 Depreciation expense for the years ended December 31, 2016 , 2015 and 2014 was $31.1 million , $33.0 million and $35.3 million , respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following tables present goodwill balances and accumulated impairment losses on a segment and consolidated basis as of December 31, 2015 and December 31, 2016 (dollars in thousands): Radio Station Group Goodwill: Balance as of December 31, 2015: Goodwill $ 1,278,526 Accumulated impairment losses (710,386 ) Total $ 568,140 Balance as of December 31, 2016: Goodwill 1,278,526 Accumulated impairment losses (1,278,526 ) Total $ — Westwood One Goodwill: Balance as of December 31, 2015: Goodwill $ 304,280 Accumulated impairment losses (169,066 ) Total $ 135,214 Balance as of December 31, 2016: Goodwill 304,280 Accumulated impairment losses (169,066 ) Total $ 135,214 Consolidated Goodwill: Balance as of December 31, 2015: Goodwill $ 1,582,806 Accumulated impairment losses (879,452 ) Total $ 703,354 Balance as of December 31, 2016: Goodwill 1,582,806 Accumulated impairment losses (1,447,592 ) Total $ 135,214 The following table presents the changes in intangible assets, other than goodwill, on a consolidated basis during the period December 31, 2015 to December 31, 2016 , and balances as of such dates (dollars in thousands): FCC Licenses Definite-Lived Total Intangible Assets: Balance as of January 1, 2015 $ 1,596,715 $ 243,640 $ 1,840,355 Impairment (15,873 ) — (15,873 ) Disposition (2,776 ) — (2,776 ) Amortization — (69,110 ) (69,110 ) Balance as of December 31, 2015 $ 1,578,066 $ 174,530 $ 1,752,596 Balance as of January 1, 2016 $ 1,578,066 $ 174,530 $ 1,752,596 Impairment (35,000 ) (1,816 ) (36,816 ) Disposition (2,883 ) — (2,883 ) Amortization — (56,215 ) (56,215 ) Balance as of December 31, 2016 $ 1,540,183 $ 116,499 $ 1,656,682 The Company's definite-lived intangible assets primarily consist of broadcast advertising and affiliate relationships. Total amortization expense related to the Company’s definite-lived intangible assets was $56.2 million , $69.1 million and $80.0 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. As of December 31, 2016 , estimated future amortization expense related to the Company's definite-lived intangible assets was as follows (dollars in thousands): 2017 $ 33,505 2018 18,201 2019 17,257 2020 17,197 2021 17,114 Thereafter 13,225 Total other intangibles, net $ 116,499 The Company performs its annual impairment testing of FCC licenses and goodwill as of December 31 and on an interim basis if events or circumstances indicate that FCC licenses or goodwill may be impaired. The Company reviews the carrying value of its definite-lived intangible assets for recoverability prior to its annual impairment test of goodwill and whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Impairment Test - Definite-Lived Intangibles The Company tested definite-lived intangible assets for recoverability by comparing the carrying value of an asset group to its undiscounted cash flows. As of December 31, 2016, the Company considered the lower than expected revenue and profitability levels as business indicators of impairment for its definite-lived intangible assets. Based on the results of the recoverability test, however, the Company determined that the future undiscounted cash flows expected to result from the continued use of the assets and their eventual disposition continued to exceed the carrying value of the applicable asset groups and were therefore recoverable. The Company did not recognize any impairment charges for its definite-lived intangible assets in 2016 as a result of this analysis. During the second quarter of 2016, the Company recorded an impairment charge to its definite-lived intangible assets of $1.8 million at the Westwood One segment for all customer lists and trademark definite-lived intangible assets related to the print publication of NASH Country Weekly as the Company re-positioned the print publication to a digital only medium. There were no similar impairments in 2015. Annual Impairment Test - Goodwill As described in Note 1, "Description of Business, Basis of Presentation and Summary of Significant Accounting Policies" and Note 16 "Segment Data," during the first quarter of 2016 the Company modified its management reporting framework. This modification resulted in a reorganization of the Company's reportable segments and reporting units. Prior to this reorganization, the Company had three reporting units for purposes of goodwill allocation. The Company's top 50 Nielsen Audio rated markets and Westwood One comprised one reporting unit, the second reporting unit consisted of all of the Company's other radio markets while the third reporting unit, in which there was no goodwill, consisted of all non-radio lines of business. After the modification, all of the Company's radio markets comprise one reporting unit ("Reporting Unit 1" or the "Radio Station Group"), Westwood One comprises the second reporting unit ("Reporting Unit 2" or "Westwood One") and the third reporting unit, in which there is no goodwill, continues to consist of all of the Company's non-radio lines of business ("Reporting Unit 3"). As part of the reorganization, the Company's reporting units more closely align with its reportable segments. The Company allocated goodwill to the new reporting unit structure based upon a relative fair value approach. The Company determined that goodwill was not impaired before or immediately after the allocation. For the Company's annual goodwill impairment test, we performed the Step 1 goodwill test (the “Step 1 test”) and compared the fair value of each reporting unit to the carrying value of its net assets as of December 31, 2016 as follows: Step 1 Goodwill Test In performing our annual impairment testing of goodwill, fair value was calculated using a discounted cash flow analysis, which is an income approach. The discounted cash flow analysis requires the projection of future cash flows and the discounting of these cash flows to their present value equivalent via a discount rate. We used a five-year projection period to derive operating cash flow projections. We made certain assumptions regarding future revenue growth based on industry market data and historical and expected performance. We then projected future operating expenses based primarily on historical financial performance in order to derive operating profits, which we combined with expected working capital additions and capital expenditures to determine operating cash flows. Our projections were based on then-current market and economic conditions and our historical knowledge of each of the relevant the reporting units. During the 2016 year, based on interim financial performance, we determined that no indicators were present which would suggest the fair value of the reporting units may have declined below the carrying value. However, during the annual impairment test and as part of our 2017 budgeting process, we lowered our forecasted revenue and profitability levels for 2017 and future periods. The material assumptions utilized in these analyses, for both reporting units that have goodwill, included overall future market revenue growth rates for the residual year of 1.1% and a weighted average cost of capital of 9.3% . The residual year growth rate is estimated based on a perpetual nominal growth rate, which is based on long-term industry projections obtained from third party sources. The weighted average cost of capital was determined based on (i) the cost of equity, which includes estimates of the risk-free return, stock risk premiums and industry beta; (ii) the cost of debt, which includes estimates for corporate borrowing rates and (iii) estimated average percentages of equity and debt in capital structures. The table below presents the percentages by which the fair value was above the carrying value of the Company's reporting units under the Step 1 test as of December 31, 2016 (dollars in thousands). Reporting Unit 1 Reporting Unit 2 Reporting Unit 3 Goodwill balance $ 568,141 $ 135,213 N/A ** Carrying value (including goodwill) $ 2,040,207 $ 194,282 N/A ** Percentage fair value above carrying value N/A* 63.8 % N/A ** * Reporting Unit 1 failed the Step 1 test ** Contains no goodwill The Company's analysis determined that, based on its Step 1 goodwill test, the fair value of Reporting Unit 1 was below its carrying value at December 31, 2016, therefore a Step 2 test was performed. For Reporting Unit 2, no impairment indicator existed in Step 1, therefore the Company determined that a Step 2 test was not required and goodwill was appropriately stated as of December 31, 2016. Step 2 Goodwill Test As required by the Step 2 test, the Company prepared an allocation of the fair value of Reporting Unit 1 which was identified in the Step 1 test as containing indications of impairment. The allocation of fair value in the Step 2 test showed that the fair value of the individual assets of Reporting Unit 1 was above the fair value of Reporting Unit 1 calculated in the Step 1 test. As a result, the Company recorded a non-cash impairment charge of $568.1 million , reducing the goodwill in Reporting Unit 1 to $0.0 million at December 31, 2016. During the year ended December 31, 2015, the Company recorded a non-cash impairment charge of $549.7 million as a result of an interim impairment test of goodwill. If actual results or events underlying the material assumptions are less favorable than those projected by us or if a triggering event occurs or circumstances change that would more likely than not reduce the fair value of our goodwill below the amounts reflected in the balance sheet, we may be required to recognize impairment charges in future periods. Annual Impairment Test - FCC Licenses As part of its annual impairment testing of indefinite-lived intangibles, in addition to testing goodwill for impairment, the Company also tests its FCC licenses for impairment during the fourth quarter of each year and on an interim basis if events or circumstances indicate that the asset may be impaired. As part of the overall planning associated with the test, the Company determined that its geographic markets are the appropriate unit of accounting for FCC license impairment testing and therefore the Company has combined its FCC licenses within each geographic market cluster into a single unit of accounting for impairment testing purposes. For the impairment test, we utilized the income approach, specifically the Greenfield Method. This approach values a license by calculating the value of a hypothetical start-up company that initially has no assets except the asset to be valued (the license). The value of the asset under consideration (the license) can be considered as equal to the value of this hypothetical start-up company. In completing the appraisals, we conducted a thorough review of all aspects of the assets being valued. The estimated fair values of our 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 a use of the asset that is physically possible, legally permissible and financially feasible. A basic assumption in our 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. We assumed the competitive situation that existed in those markets as of that date, except that these stations were just beginning operations. In estimating the value of the licenses, we began with market revenue projections. Next, we 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 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 analysis included overall future market revenue growth rates for the residual year of 1.1% and a weighted average cost of capital of 9.3% . The residual year growth rate is estimated based on a perpetual nominal growth rate, which is based on long-term industry projections obtained from third party sources. The weighted average cost of capital was based on (i) the cost of equity, which includes estimates of the risk-free return, stock risk premiums and industry beta; (ii) the cost of debt, which includes estimates for corporate borrowing rates; and (iii) estimated average percentages of equity and debt in other radio broadcasters capital structures. In order to estimate what listening audience share could be expected to be achieved for each station by market, we analyzed the average local commercial share garnered by similar AM and FM stations competing in those radio markets. We may make adjustments to the listening share and revenue share based on a station's signal coverage within the market and the surrounding area population as compared to the other stations in the market. Based on our knowledge of the industry and familiarity with similar markets, we determined that approximately three years would be required for the stations to reach maturity. We also incorporated the following additional assumptions into the discounted cash flow valuation model: • projected operating revenues and expenses over a five -year period; • the estimation of initial and on-going capital expenditures (based on market size); • depreciation on initial and on-going capital expenditures (we 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); and • amortization of the intangible asset — the FCC license. As a result of the impairment test of our FCC licenses, conducted as of December 31, 2016 , we recorded a non-cash impairment charge of $35.0 million .

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following as of December 31, 2016 and 2015 (dollars in thousands): December 31, 2016 December 31, 2015 Accrued employee costs $ 30,887 $ 22,169 Accrued third party content costs 29,285 36,166 Accounts payable 12,739 11,492 Accrued other 14,494 23,998 Accrued interest 8,334 8,106 Accrued retention and severance costs 502 10,465 Advance deposit received — 6,000 Total accounts payable and accrued expenses $ 96,241 $ 118,396

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consisted of the following at December 31, 2016 and 2015 (dollars in thousands): December 31, 2016 December 31, 2015 Term Loan $ 1,810,266 $ 1,838,940 Less: unamortized term loan discount and debt issuance costs (29,909 ) (37,524 ) Total term loan 1,780,357 1,801,416 7.75% Senior Notes 610,000 610,000 Less: unamortized debt issuance costs (6,200 ) (8,515 ) Total 7.75% Senior Notes 603,800 601,485 Less: Current portion of long-term debt — — Long-term debt, net $ 2,384,157 $ 2,402,901 A summary of the future maturities of long-term debt follows, exclusive of the discount and issuance costs of debt (dollars in thousands): 2017 $ — 2018 — 2019 610,000 2020 1,810,266 2021 — Thereafter — $ 2,420,266 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. Notwithstanding the stated maturity date of the Term Loan, if 91 days prior to the stated maturity date of the 7.75% Senior Notes (the "Springing Maturity Date") the aggregate principal amount of 7.75% Senior Notes outstanding exceeds $200.0 million , the Term Loan maturity date shall be accelerated to the Springing Maturity Date. 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”), 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 rate per annum equal to the highest of (i) the Federal Funds Rate, as published by the Federal Reserve Bank of New York, plus 1/2 of 1.0% , (ii) the 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. The Company's 7.75% Senior Notes (defined below) mature on May 1, 2019. At December 31, 2016 , 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 December 31, 2016 and 2015 was 5.0 0 to 1 and 5.50 to 1, respectively. The ratio periodically decreases until it reaches to 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 this ratio. However, as of December 31, 2016 , the Company's actual leverage ratio was in excess of that 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 Wells Fargo Capital Finance ("Wells Fargo") 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. In December 2016, we completed a discounted prepayment of $28.7 million of face value of the Term Loan for $20.0 million , a discount to par value of 30% . The terms of the Credit Agreement remained unchanged. As a result of the prepayment, we recognized a gain, net of transaction costs, of $8.5 million for the year ended December 31, 2016. At December 31, 2016 , after giving effect to the prepayment, the Company had $1.810 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 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 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 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 December 31, 2016 , 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 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 Wells Fargo (as successor to General Electric Capital Corporation), 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”) 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 an Amended and Restated Receivables Funding and Administration Agreement, dated as of March 15, 2017 (the “Funding Agreement”). Cumulus Holdings services the accounts receivable on behalf of the SPV. Advances available under the Funding Agreement at any time are 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 December 31, 2016 and 2015 , there were no amounts outstanding under the Securitization Facility. Amortization of Debt Discount and Debt Issuance Costs For each of the years ended December 31, 2016 and 2015 , the Company recorded an aggregate of $10.0 million and $9.5 million , respectively, of amortization of debt discount and debt issuance costs related to its Term Loan and 7.75% Senior Notes.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The three levels of the fair value hierarchy to be applied when determining fair value of financial instruments 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. The reconciliation below contains the components of the change in fair value associated with the equity interest in Pulser Media Inc. ("Pulser") for the year ended December 31, 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 December 31, 2015 $ — The following table shows the gross amount and fair value of the Company’s Term Loan and 7.75% Senior Notes (dollars in thousands): December 31, 2016 December 31, 2015 Term Loan: Carrying value $ 1,810,266 $ 1,838,940 Fair value — Level 2 1,226,455 1,360,816 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value — Level 2 249,673 204,350 As of December 31, 2016 , the Company used the closing trading prices as of the balance sheet date of 67.8% to calculate the fair value of the Term Loan, and 40.9% to calculate the fair value of the 7.75% Senior Notes. As of December 31, 2015 , the Company used the closing trading prices as of the balance sheet date of 74.0% to calculate the fair value of the Term Loan, and 33.5% to calculate the fair value of the 7.75% Senior Notes. During the year ended December 31, 2016 , the Company recorded impairment charges related to goodwill and FCC licenses of $568.1 million and $35.0 million , respectively. During the year ended December 31, 2015 , the Company recorded impairment charges related to goodwill and FCC licenses of $549.7 million and $15.9 million , respectively. The fair value of goodwill and FCC licenses were measured using a discounted cash flow analysis and the Greenfield Method, respectively, both of which are Level 3 measurements.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity For information on the Company's October 12, 2016, Reverse Stock Split and the resulting adjustments to authorized, issued and outstanding common stock, warrants and options, see Note 1, "Description of Business, Basis of Presentation and Summary of Significant Accounting Policies: Reverse Stock Split." The Company is authorized to issue an aggregate of 268,830,609 shares of stock divided into four classes consisting of: (i) 93,750,000 shares designated as Class A common stock; (ii) 75,000,000 shares designated as Class B common stock; (iii) 80,609 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 of 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 shares of Class A common stock immediately following such conversion, the holder shall first deliver to the Company an ownership certification to enable the Company (a) to 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) to obtain any necessary approvals from the FCC or the Department of Justice. During the year ended December 31, 2014, all of the approximately 1.9 million shares of outstanding Class B common stock were converted into shares of Class A common stock. There were no shares of Class B common stock issued or outstanding as of December 31, 2016 and 2015. 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, to date, no dividends have been declared by the board of directors. 2009 Warrants In June 2009, in connection with the execution of an amendment to the Company's then-existing credit agreement, the Company issued warrants to the lenders thereunder that allow them to acquire up to 156,250 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. None of the 2009 warrants were converted during the year ended December 31, 2016 , and as of December 31, 2016, 40,057 of the 2009 Warrants remained outstanding. Equity Held in Reserve Pursuant to the agreement governing the Company's acquisition of Citadel Broadcasting Company ("Citadel") on September 16, 2011 (the "Citadel Merger"), warrants to purchase 300,000 shares of the Company’s common stock were reserved for potential future issuance in connection with the settlement of certain remaining allowed, disputed or not reconciled claims related to Citadel's bankruptcy. As part of the June 2014 completion of proceedings related to Citadel's bankruptcy, the 300,000 shares were issued from treasury stock for $25.0 million . The equity held in reserve was included in additional paid-in-capital on the accompanying consolidated statement of stockholders' equity at December 31, 2014 . Company Warrants As a component of the Citadel Merger and the related financing transactions, the Company issued warrants to purchase an aggregate of 9.0 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 with each Company Warrant providing the right to purchase one share. The number of shares for which the Company Warrants are exercisable is not subject to any anti-dilution protection, other than standard adjustments in the case of stock splits, dividends and certain other similar events. 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. Company Warrants to purchase 43,192 shares of Class A common stock were exercised during the year ended December 31, 2016 . As of December 31, 2016 , 31,955 Company Warrants remained outstanding. Crestview Warrants Also on September 16, 2011, but pursuant to a separate warrant agreement, the Company issued warrants to purchase 1.0 million shares of Class A common stock with an exercise price, as adjusted to date, of $34.56 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 certain other similar events. As of December 31, 2016 , all 1.0 million Crestview Warrants remained outstanding.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense The Company used the Black-Scholes option pricing model to estimate the fair value on the date of grant of stock options issued. The determination of the fair value of stock options 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 recognized 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 vesting conditions, management uses the requisite service period to recognize the cost associated with the award. There were no changes to the Black-Scholes calculations or assumptions during the year. Generally, the Company’s grants of stock options vest over four years and have a maximum contractual term of ten years. The Company estimated the volatility of its common stock by using a weighted average of historical stock price volatility over the expected term of the options. The Company based the risk-free interest rate that it used in its option pricing model on United States Treasury issues with terms similar to the expected term of the options. The Company does not anticipate paying any cash dividends on the class of stock subject to granted stock options in the foreseeable future and therefore used an expected dividend yield of zero in the option pricing model. The Company is required to estimate forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from estimates. Stock-based compensation expense is recorded only for those awards that are expected to vest. All stock-based payment awards are amortized on a straight-line basis over the requisite service periods of the awards. On May 22, 2014, the Company granted 11,664 shares of time-vesting restricted Class A common stock, with an aggregate grant date 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 30,365 shares of time-vesting restricted Class A common stock, with an aggregate grant date fair value of $0.6 million , to the non-employee directors of the Company with a cliff vesting term of one year. During 2015 , the Company granted 0.6 million stock options with an aggregate grant date fair value of $2.2 million . The options range in exercise price from $3.84 to $34.72 per share, and provide for vesting on each of the first four anniversaries of the date of grant, with 30% of each award vesting on each of the first two anniversaries thereof, and 20% of each award vesting on each of the next two anniversaries thereof. During 2016 , the Company granted 0.4 million stock options with an aggregate grant date fair value of $0.6 million . The options range in exercise price from $1.34 to $24.00 per share, and provide for vesting on each of the first four anniversaries of the date of grant, with 30% of each award vesting on each of the first two anniversaries thereof, and 20% of each award vesting on each of the next two anniversaries thereof. The total fair value of restricted stock awards that vested during the years ended December 31, 2016 and 2015 was $0.03 million and $0.6 million , respectively. In connection with the September 2015 announced departures from the Company of its then-President and CEO and Executive Vice President of Content and Programming, the Company recorded accelerated stock compensation costs of $8.7 million for the year ended December 31, 2015. These costs are included in corporate expenses and additional paid-in capital in the accompanying consolidated financial statements. For the years ended December 31, 2016 , 2015 and 2014 , the Company recognized approximately $2.9 million , $21.0 million and $17.6 million in non-cash stock-based compensation expense, respectively, related to equity awards. The associated tax benefits related to these non-cash stock-based compensation awards for the years ended December 31, 2016 , 2015 and 2014 were $0.2 million , $8.4 million and $7.1 million , respectively. As of December 31, 2016 , unrecognized stock-based compensation expense of approximately $2.8 million related to equity awards is expected to be recognized over a weighted average remaining life of 1.40 years. Unrecognized stock-based compensation expense for equity awards will continue to be adjusted for future changes in estimated forfeitures. As of December 31, 2016 , the total number of shares of common stock that remain authorized, reserved and available for issuance under any of the Company’s equity incentive plans was approximately 30,000 , not including shares underlying outstanding awards. The Company is only authorized to make additional award grants under the 2011 Equity Incentive Plan. There were no stock options exercised during the years ended December 31, 2016 or December 31, 2015 . The following tables summarize the Company’s equity award activity for the year ended December 31, 2016 : Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Options to Purchase Class A Common Stock Outstanding at January 1, 2016 3,216,193 $ 34.88 Granted 389,938 5.96 Exercised — — Forfeited/Canceled (41,523 ) 42.85 Expired (92,153 ) 37.61 Outstanding at December 31, 2016 3,472,455 $ 31.46 6.36 $ 392 Vested or expected to vest at December 31, 2016 3,472,455 $ 31.46 6.36 $ 18,081 Exercisable at December 31, 2016 2,620,358 $ 36.94 5.55 $ 668 Number of Restricted Stock Awards (in thousands) Weighted- Average Grant Date Fair Value (in thousands) Restricted Common Stock Awards Outstanding at January 1, 2016 30,365 $ 19.76 Granted — — Vested (30,365 ) 19.76 Forfeited — — Outstanding awards at December 31, 2016 — $ — 2011 Equity Incentive Plan The Board adopted the 2011 Equity Incentive Plan on July 8, 2011. Also, on July 8, 2011, stockholders holding a majority of the outstanding voting power of the Company, upon the recommendation of the Board, approved the 2011 Equity Incentive Plan. The 2011 Equity Incentive Plan authorizes the grant of equity-based compensation in the form of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), performance shares, performance units, and other awards for the purpose of providing Cumulus Media’s non-employee directors, consultants, officers and other employees incentives and rewards that are aligned with the economic interests of the Company's shareholders. The 2011 Equity Incentive Plan is administered by the Compensation Committee. The Compensation Committee may delegate its authority under the 2011 Equity Incentive Plan. Total awards under the 2011 Equity Incentive Plan are limited to 4,375,000 shares (the “Authorized Plan Aggregate”) of Class A common stock. The 2011 Equity Incentive Plan also provides that: (i) the aggregate number of shares of Class A common stock actually issued or transferred upon the exercise of incentive stock options (“ISOs”) will not exceed 2,187,500 shares; (ii) the number of shares of Class A common stock issued as restricted stock, RSUs, performance shares, performance units and other awards (after taking into account any forfeitures and cancellations) will not, during the term of the 2011 Equity Incentive Plan, in the aggregate exceed 1,500,000 shares of Class A common stock; (iii) no participant will be granted stock options or SARs, in the aggregate, for more than 1,437,500 shares of Class A common stock during any calendar year; (iv) no participant will be granted awards of restricted stock, RSUs, performance shares or other awards that are intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), in the aggregate, for more than 375,000 shares of Class A common stock during any calendar year; and (v) no participant during any calendar year will be granted awards of performance units that are intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, in the aggregate, for more than a maximum value of $5,000,000 as of their respective dates of grant. The 2011 Equity Incentive Plan provides that only shares with respect to awards that expire or are forfeited or canceled, or shares that were covered by an award the benefit of which is paid in cash instead of shares, will again be available for issuance under the 2011 Equity Incentive Plan. The following shares are not added back to the Authorized Plan Aggregate: (i) shares tendered in payment of a stock option exercise price; (ii) shares withheld by the Company to satisfy tax withholding obligations; and (iii) shares repurchased by the Company with stock option proceeds. Further, all shares covered by a SAR that is exercised and settled in shares, and whether or not all shares are actually issued to the participant upon exercise of the right, will be considered issued or transferred pursuant to the 2011 Equity Incentive Plan. The 2011 Equity Incentive Plan provides that generally: (i) stock options and SARs may not become exercisable by the passage of time sooner than one-third per year over three years except in the event of retirement, death or disability of a participant or in the event of a change in control (described below); (ii) stock options and SARs that become exercisable upon the achievement of Management Objectives (as defined below) cannot become exercisable sooner than one year from the date of grant except in the event of retirement, death or disability of a participant or in the event of a change in control; (iii) restricted stock and RSUs may not become unrestricted by the passage of time sooner than one-third per year over three years unless restrictions lapse sooner by virtue of retirement, death or disability of a participant or in the event of a change in control; (iv) the period of time within which Management Objectives relating to performance shares and performance units must be achieved will be a minimum of one year, subject to earlier lapse or modification by virtue of retirement, death or disability of a participant or in the event of a change in control; (v) restricted stock and RSUs that vest upon the achievement of Management Objectives cannot vest sooner than one year from the date of grant, but may be subject to earlier lapse or modification by virtue of retirement, death or disability of a participant or in the event of a change in control; and, (vi) as described below, a limited number of awards, however, including restricted stock and RSUs granted to non-employee directors, may be granted without regard to the above minimum vesting periods. Repricing of options and SARs is prohibited without stockholder approval under the 2011 Equity Incentive Plan. In general, a change in control will be deemed to have occurred if: (i) there is a consummation of a sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any person or group; (ii) a plan relating to the liquidation or dissolution of the Company is adopted; (iii) there is a consummation of any transaction (including, without limitation, any purchase, sale, acquisition, disposition, merger or consolidation) the result of which is that any person or group becomes the beneficial owner (excluding any options to purchase equity securities of the Company held by such person or group) of more than 50% of the aggregate voting power of all classes of capital stock of the Company having the right to elect directors under ordinary circumstances; or (iv) a majority of the members of the Board are not Continuing Directors. For purposes of this definition, a “Continuing Director” is, as of any date of determination, any member of the Board who (1) was a member of the Board on July 8, 2011 or (2) was nominated for election or elected to the Board with the approval of either two-thirds of the Continuing Directors who were members of the Board at the time of such nomination or election or two-thirds of those Company directors who were previously approved by Continuing Directors. The 2011 Equity Incentive Plan provides that dividends or other distributions on performance shares, restricted stock or RSUs that are earned or that have restrictions that lapse as a result of the achievement of Management Objectives will be deferred until and paid contingent upon the achievement of the applicable Management Objectives. The 2011 Equity Incentive Plan also provides that dividends and dividend equivalents will not be paid on stock options or SARs. The 2011 Equity Incentive Plan provides that no stock options or SARs will be granted with an exercise or base price less than the fair market value of the Class A common stock on the date of grant. The 2011 Equity Incentive Plan is designed to allow awards to qualify as qualified performance-based compensation under Section 162(m) of the Code. The following performance metrics may be used as “Management Objectives”: profits, cash flow, returns, working capital, profit margins, liquidity measures, sales growth, gross margin growth, cost initiative and stock price metrics, and strategic initiative key deliverable metrics. As of December 31, 2016 , there were outstanding options to purchase a total of 3,421,986 shares of Class A common stock at exercise prices ranging from $1.34 to $51.68 per share under the 2011 Equity Incentive Plan, of which 852,097 options are unvested and 2,569,889 options were vested. 2008 Equity Incentive Plan As of December 31, 2016 , there were outstanding options to purchase a total of 50,469 shares of Class A common stock at exercise prices ranging from $20.32 to $26.40 per share under the 2008 Equity Incentive Plan. As of December 31, 2016 , all of such outstanding options had vested. The Company is not authorized to issue additional grants under this plan.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax (benefit) expense from continuing operations for the years ended December 31, 2016 , 2015 and 2014 consisted of the following (dollars in thousands): 2016 2015 2014 Current income tax expense State and local $ 1,678 $ 2,422 $ 3,352 Total current income tax expense $ 1,678 $ 2,422 $ 3,352 Deferred tax (benefit) expense Federal $ (19,496 ) $ (48,123 ) $ 7,172 State and local (8,336 ) (139 ) (270 ) Total deferred tax (benefit) expense (27,832 ) (48,262 ) 6,902 Total income tax (benefit) expense $ (26,154 ) $ (45,840 ) $ 10,254 Total income tax (benefit) expense from continuing operations differed from the amount computed by applying the federal statutory tax rate of 35.0% for the years ended December 31, 2016 , 2015 and 2014 because of the following (dollars in thousands): 2016 2015 2014 Pretax (loss) income at federal statutory rate $ (187,906 ) $ (207,317 ) $ 7,707 State income tax (benefit) expense, net federal (benefit) expense (1,812 ) (1,385 ) 992 Meals and entertainment 429 380 424 Change in state tax rates (1,618 ) 1,605 (1,580 ) Section 162 disallowance 538 110 562 Impairment charges on goodwill with no tax basis 163,630 153,371 — Increase in valuation allowance 32 190 2,189 Other 553 7,206 (40 ) Net income tax (benefit) expense $ (26,154 ) $ (45,840 ) $ 10,254 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2016 and 2015 are presented below (dollars in thousands): 2016 2015 Noncurrent deferred tax assets: Accounts receivable $ 1,422 $ 1,849 Advertising relationships 2,548 3,686 Other liabilities 27,014 28,140 AMT tax credit 2,042 2,042 Net operating loss 111,778 155,475 Noncurrent deferred tax assets 144,804 191,192 Less: valuation allowance (17,205 ) (17,173 ) Net noncurrent deferred tax assets 127,599 174,019 Noncurrent deferred tax liabilities: Intangible assets 482,620 527,775 Property and equipment 20,485 30,260 Cancellation of debt income 12,544 31,865 Noncurrent deferred tax liabilities 515,649 589,900 Net noncurrent deferred tax liabilities 388,050 415,881 Net deferred tax liabilities $ 388,050 $ 415,881 Deferred tax assets and liabilities are computed by applying the federal and state income tax rates in effect to the gross amounts of temporary differences and other tax attributes, such as net operating loss carry-forwards. In assessing if the deferred tax assets will be realized, the Company considered whether it is more likely than not that some or all of these deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which these deductible temporary differences reverse. Based upon the Company's analysis of all sources of positive and negative evidence, including the expected generation of taxable income in future years in certain jurisdictions, the Company concluded that it is more likely than not certain deferred tax assets will be realized. During the year ended December 31, 2015, the valuation allowance decreased by $1.8 million to $17.2 million . The $1.8 million decrease to the valuation allowance relates to an increase of $0.3 million related to state rate changes, an increase of $0.2 million related to the Company's estimates of its inability to recover certain state net operating losses and a decrease of $2.3 million related to the write off of certain state net operating losses expected to expire in the future. During the year ended December 31, 2016, the valuation allowance remained at $17.2 million . The changes in the valuation allowance relate to a decrease of $0.2 million related to state rate changes, an increase of $0.8 million related to the Company's estimates of its inability to recover certain state net operating losses and a decrease of $0.6 million related to the write off of certain state net operating losses expected to expire in the future. For the year ended December 31, 2016, $0.6 million of the change in valuation allowance was recorded to deferred tax expense as $0.6 million of the overall zero change in valuation allowance related directly to the write off of net operating losses with an existing valuation allowance. At December 31, 2016 , the Company had federal net operating loss carry forwards, which are available to offset future taxable income, of approximately $271.4 million which will expire in the years 2030 through 2032. At December 31, 2016 , the Company had state net operating loss carry forwards available to offset future income of approximately $1.2 billion which, if not utilized, will expire in the years 2017 through 2036. In addition to the federal and state net operating loss carry forwards noted above, approximately $1.5 million of net operating loss carry forwards relate to windfall tax benefits associated with the Company's equity based compensation plan for which no deferred tax asset is recognized. The Company's policy is to treat these equity based net operating loss carry forwards as the last net operating loss carry forwards to be consumed. The Company recorded interest and penalties related to unrecognized tax benefits in current income tax expense. Of this amount, $2.9 million was recorded to expense in 2016 . The total interest and penalties accrual as of December 31, 2016 is $2.1 million . The overall decrease in accrued interest and penalty in 2016 of $2.9 million is due to additional accruals for interest and penalty on prior year positions of $0.4 million , and reductions to interest and penalty accruals of $3.3 million related to the reversal of positions associated with the expiration of certain statues of limitations. The total unrecognized tax benefits and accrued interest and penalties at December 31, 2016 was $14.0 million . Of this total, $12.4 million represented the unrecognized tax benefits and accrued interest and penalties that, if recognized, would favorably affect the effective income tax rate in future periods. Of the $14.0 million total unrecognized tax benefits and accrued interest and penalties, $13.3 million relates to items which are not expected to change significantly within the next 12 months. Substantially all federal, state, local and foreign income tax returns have been closed for the tax years through 2012; however, the various tax jurisdictions may adjust the Company's net operating loss carry forwards. The following table reconciles unrecognized tax benefits during the relevant years: Balance at January 1, 2015 $ 14,466 Settlements (1,180 ) Lapse of statute of limitations (657 ) Balance at December 31, 2015 $ 12,629 Increase for prior year positions 275 Lapse of statute of limitations (1,014 ) Balance at December 31, 2016 $ 11,890

(Loss) Earnings Per Share (_EPS

(Loss) Earnings Per Share (“EPS”)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
(Loss) Earnings Per Share (“EPS”)	Per Share (“EPS”) For all periods presented, the Company has disclosed basic and diluted (loss) earnings per common share utilizing the two-class method. In accordance with, ASC Topic 260, "Earnings per Share," the presentation of basic and diluted EPS is required only for common stock and not for participating securities. Non-vested restricted shares of Class A common stock are considered participating securities for purposes of calculating basic weighted average common shares outstanding in periods in which the Company recorded net (loss) income. In addition, Company Warrants are accounted for as participating securities, as holders of such Warrants, in accordance with and subject to the terms and conditions of the Warrant Agreement, are entitled to receive ratable distributions of the Company's earnings concurrently with such distributions made to the holders of Class A common stock. 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 allocated undistributed net income (loss) after any allocation for preferred stock dividends between each class of common stock on an equal basis per share. In accordance with the two-class method, earnings applicable to the non-vested restricted shares of Class A common stock and Company Warrants are excluded from the computation of basic EPS. 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 included stock options and certain 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 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 class of common stock equally per share. The following table sets forth the computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands, except per share data): 2016 2015 2014 Basic (Loss) Earnings Per Share Numerator: Undistributed net (loss) income continuing operations $ (510,720 ) $ (546,494 ) $ 11,769 Less: Participation rights of the Company Warrants in undistributed earnings — — 358 Participation rights of unvested restricted stock in undistributed earnings — — 12 Basic undistributed net (loss) income from operations — attributable to common shares $ (510,720 ) $ (546,494 ) $ 11,399 Denominator: Basic weighted average common shares outstanding 29,270 29,177 28,268 Basic (loss) income from operations per share — attributable to common shares $ (17.45 ) $ (18.72 ) $ 0.40 Diluted (Loss) Earnings Per Share Numerator: Undistributed net (loss) income from operations $ (510,720 ) $ (546,494 ) $ 11,769 Less: Participation rights of the Company Warrants in undistributed net income — — 354 Participation rights of unvested restricted stock in undistributed earnings — — 12 Basic undistributed net (loss) income from continuing operations — attributable to common shares $ (510,720 ) $ (546,494 ) $ 11,403 Denominator: Basic weighted average shares outstanding 29,270 29,177 28,268 Effect of dilutive options and warrants — — 352 Diluted weighted average shares outstanding 29,270 29,177 28,620 Diluted (loss) income from operations per share — attributable to common shares $ (17.45 ) $ (18.72 ) $ 0.40 Potentially dilutive equivalent shares outstanding for the year ended December 31, 2016 , excluded from the computation of diluted (loss) income per share consisted of approximately 0.01 million shares of common stock underlying outstanding warrants and stock options.

Leases

Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leases	Leases The Company has non-cancelable operating leases, primarily for land, tower space, office-space, certain office equipment and vehicles. The operating leases generally contain renewal options for periods ranging from one to ten years and require the Company to pay all executory costs such as maintenance and insurance. Rental expense for operating leases was approximately $25.2 million , $27.9 million , and $27.4 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Future minimum payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year), future minimum sublease income to be received and a lease commitment under a sale leaseback agreement as of December 31, 2016 are as follows (in thousands): Year Ending December 31: Future Minimum Rent Under Operating Leases Future Minimum Sublease Income Future Minimum Commitments Under Sale Leaseback Agreement Net Commitments 2017 23,503 (1,028 ) 1,114 23,589 2018 20,540 (1,028 ) 1,153 20,665 2019 17,695 (1,028 ) 1,193 17,860 2020 13,723 (1,028 ) — 12,695 2021 10,880 (1,028 ) — 9,852 Thereafter 32,481 (2,314 ) — 30,167 $ 118,822 $ (7,454 ) $ 3,460 $ 114,828

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
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 $46.2 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. The Company is committed under various contractual agreements to pay for broadcast rights that include sports and news services and to pay for talent, executives, research, weather information 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 December 31, 2016 , the Company believes that it will meet all such material 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 monthly fees payable to Merlin of approximately $0.3 million , $0.4 million , $0.5 million and $0.6 million in the first, 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 because of a restructuring in connection with the acquisition of Westwood One (the "Exit Plan"), which included charges related to terminated contract costs. In connection with the Exit Plan, the Company recorded restructuring costs of $5.2 million for the year ended December 31, 2015 , which costs are included in corporate expenses in the consolidated statement of operations. As of December 31, 2016 , 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 $3.4 million of non-current liabilities are included in other liabilities in the 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. Legal Proceedings In March 2011, the Company and certain of our subsidiaries were named as defendants along with other radio companies, including Beasley Broadcast Group, Inc., CBS Radio, Inc., Entercom Communications, Greater Media, Inc. and Townsquare Media, LLC in a patent infringement suit. The case, Mission Abstract Data L.L.C., d/b/a Digimedia v. Beasley Broadcast Group, Inc., et. al., Civil Action Case No: 1:99-mc-09999, U.S. District Court for the District of Delaware (filed March 1, 2011), alleges that the defendants are infringing or have infringed on plaintiff’s patents entitled “Selection and Retrieval of Music from a Digital Database.” Plaintiff is seeking injunctive relief and unspecified damages. This case has been stayed, and is awaiting further action by the court. 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 alleged, among other things, copyright infringement under California state law, common law conversion, misappropriation and unfair business practices. On December 11, 2015, this suit was dismissed without prejudice. 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 was 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. On December 20, 2016, in a case not involving Cumulus Media, Inc., the New York Court of Appeals held that New York common law does not recognize a right of public performance for owners of pre-1972 Recordings. The stay remains in effect in our New York lawsuit until appeal rights are exhausted and the Second Circuit issues a mandate in the unrelated case. The pending suit seeks unspecified damages. The Company is evaluating the suit, and intends to defend itself vigorously. The Company is not yet able to determine what effect the lawsuit will have, if any, on its financial position, results of operations or cash flows. In the first quarter of 2016, CBS Radio Inc. ("CBS") filed a demand for arbitration against certain of our subsidiaries. This action alleged that certain of our subsidiaries breached the terms of one or more contracts with CBS relating to sports network radio programming and content. As previously disclosed, in the third quarter of 2016, the Company settled these claims in exchange for a one-time payment of $13.3 million . This payment was classified as a content cost in the accompanying consolidated statement of operations for the year ended December 31, 2016. The Company currently is, and expects that from time to time in the future it will be, party to, or a defendant in, various other claims or lawsuits that are generally incidental to its business. The Company expects that it will vigorously contest any such claims or lawsuits and believes that the ultimate resolution of any such known claim or lawsuit will not have a material adverse effect on the Company's consolidated financial position, results of operations or cash flows.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) The following table presents the Company’s selected unaudited quarterly results for each of the quarters ended during 2015 and 2016 (dollars in thousands, except per share data): Three Months Ended March 31, June 30, September 30, December 31, FOR THE YEAR ENDED DECEMBER 31, 2016 Net revenue $ 268,530 $ 287,193 $ 286,136 $ 299,541 Operating income (loss) $ 10,114 $ 36,665 $ 113,017 $ (568,585 ) (Loss) income before income taxes $ (23,562 ) $ 2,315 $ 79,109 $ (594,736 ) Net (loss) income $ (14,429 ) $ 1,066 $ 46,321 $ (543,677 ) Basic: (Loss) income per share $ (0.49 ) $ 0.04 $ 1.58 $ (18.57 ) Diluted: (Loss) income per share $ (0.49 ) $ 0.04 $ 1.58 $ (18.57 ) FOR THE YEAR ENDED DECEMBER 31, 2015 Net revenue $ 271,079 $ 299,334 $ 289,441 $ 308,825 Operating income (loss) $ 11,875 $ 48,003 $ (567,214 ) $ 28,821 (Loss) income before income taxes $ (22,372 ) $ 24,991 $ (603,034 ) $ 8,081 Net (loss) income $ (12,015 ) $ 12,299 $ (542,179 ) $ (4,599 ) Basic: (Loss) income per share $ (0.40 ) $ 0.40 $ (18.56 ) $ (0.16 ) Diluted: (Loss) income per share $ (0.40 ) $ 0.40 $ (18.56 ) $ (0.16 )

Supplemental Condensed Consolid

Supplemental Condensed Consolidating Financial Information	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Condensed Consolidating Financial Information	Supplemental Condensed Consolidating Financial Information At December 31, 2016 , 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) condensed consolidating statements of operations for the years ended December 31, 2016 , 2015 and 2014 , (ii) condensed consolidating balance sheets as of December 31, 2016 and 2015 , and (iii) condensed consolidating statements of cash flows for the years ended December 31, 2016 , 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 CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2016 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non- guarantors Eliminations Total Consolidated Net revenue $ — $ 165 $ 1,141,235 $ — $ — $ 1,141,400 Operating expenses: Content costs — — 427,780 — — 427,780 Selling, general & administrative expenses — — 470,546 2,354 — 472,900 Depreciation and amortization — 1,530 85,737 — — 87,267 LMA fees — — 12,824 — — 12,824 Corporate expenses (including stock-based compensation expense of $2,948) — 40,148 — — — 40,148 Gain on sale of assets or stations — — (95,695 ) — — (95,695 ) Impairment on intangible assets and goodwill — — 604,965 — — 604,965 Total operating expenses — 41,678 1,506,157 2,354 — 1,550,189 Operating loss — (41,513 ) (364,922 ) (2,354 ) — (408,789 ) Non-operating (expense) income: Interest (expense) income, net (8,711 ) (129,733 ) 493 (190 ) — (138,141 ) Gain on early extinguishment of debt — 8,017 — — — 8,017 Other income, net — — 2,039 — — 2,039 Total non-operating (expense) income, net (8,711 ) (121,716 ) 2,532 (190 ) — (128,085 ) Loss before income taxes (8,711 ) (163,229 ) (362,390 ) (2,544 ) — (536,874 ) Income tax benefit (expense) 3,484 65,292 (43,640 ) 1,018 — 26,154 (Loss) earnings from consolidated subsidiaries (505,493 ) (407,556 ) (1,526 ) — 914,575 — Net (loss) income $ (510,720 ) $ (505,493 ) $ (407,556 ) $ (1,526 ) $ 914,575 $ (510,720 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2015 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non- guarantors Eliminations Total Consolidated Net revenue $ — $ 500 $ 1,168,179 $ — $ — $ 1,168,679 Operating expenses: Content costs — — 396,426 — — 396,426 Selling, general & administrative expenses — — 475,268 2,059 — 477,327 Depreciation and amortization — 1,525 100,580 — — 102,105 LMA fees — — 10,129 — — 10,129 Corporate expenses (including stock-based compensation expense of $21,033) — 73,403 — — — 73,403 Loss on sale of assets or stations — — 2,856 — — 2,856 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest Pulser Media Inc. — — 19,364 — — 19,364 Total operating expenses — 74,928 1,570,207 2,059 — 1,647,194 Operating loss — (74,428 ) (402,028 ) (2,059 ) — (478,515 ) Non-operating (expense) income: Interest (expense) income, net (8,735 ) (132,754 ) 433 (190 ) — (141,246 ) Gain on early extinguishment of debt — 13,222 — — — 13,222 Other income, net — — 14,205 — — 14,205 Total non-operating (expense) income, net (8,735 ) (119,532 ) 14,638 (190 ) — (113,819 ) Loss from continuing operations before income taxes (8,735 ) (193,960 ) (387,390 ) (2,249 ) — (592,334 ) Income tax benefit (expense) 3,494 77,584 (36,138 ) 900 — 45,840 Loss from continuing operations (5,241 ) (116,376 ) (423,528 ) (1,349 ) — (546,494 ) (Loss) earnings from consolidated subsidiaries (541,253 ) (424,877 ) (1,349 ) — 967,479 — Net (loss) income $ (546,494 ) $ (541,253 ) $ (424,877 ) $ (1,349 ) $ 967,479 $ (546,494 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2014 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 479 $ 1,262,944 $ — $ — $ 1,263,423 Operating expenses: Content costs — — 433,596 — — 433,596 Selling, general & administrative expenses — — 468,349 2,092 — 470,441 Depreciation and amortization — 1,619 113,656 — — 115,275 LMA fees — — 7,195 — — 7,195 Corporate expenses (including stock-based compensation expense of $17,638) — 76,428 — — — 76,428 Gain on sale of assets or stations — — (1,342 ) — — (1,342 ) Total operating expenses — 78,047 1,021,454 2,092 — 1,101,593 Operating (loss) income — (77,568 ) 241,490 (2,092 ) — 161,830 Non-operating (expense) income: Interest (expense) income, net (9,349 ) (135,920 ) 1,388 (264 ) — (144,145 ) Other expense, net — — 4,338 — — 4,338 Total non-operating (expense) income, net (9,349 ) (135,920 ) 5,726 (264 ) — (139,807 ) (Loss) income from continuing operations before income taxes (9,349 ) (213,488 ) 247,216 (2,356 ) — 22,023 Income tax benefit (expense) 3,739 81,993 (96,928 ) 942 — (10,254 ) (Loss) income from continuing operations (5,610 ) (131,495 ) 150,288 (1,414 ) — 11,769 Earnings (loss) from consolidated subsidiaries 17,379 148,874 (1,414 ) — (164,839 ) — Net income (loss) $ 11,769 $ 17,379 $ 148,874 $ (1,414 ) $ (164,839 ) $ 11,769 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2016 (Dollars in thousands, except for share and per share data) 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 $ — $ 131,259 $ — $ — $ — $ 131,259 Restricted cash — 8,025 — — — 8,025 Accounts receivable, less allowance for doubtful accounts of $4,691 — — — 231,585 — 231,585 Trade receivable — — 4,985 — — 4,985 Assets held for sale — — 30,150 — — 30,150 Prepaid expenses and other current assets — 17,321 16,602 — — 33,923 Total current assets — 156,605 51,737 231,585 — 439,927 Property and equipment, net — 4,431 157,632 — — 162,063 Broadcast licenses — — — 1,540,183 — 1,540,183 Other intangible assets, net — — 116,499 — — 116,499 Goodwill — — 135,214 — — 135,214 Investment in consolidated subsidiaries (388,509 ) 3,348,992 1,012,947 — (3,973,430 ) — Intercompany receivables — 103,593 1,848,263 — (1,951,856 ) — Other assets — 21,631 135,996 364 (139,186 ) 18,805 Total assets $ (388,509 ) $ 3,635,252 $ 3,458,288 $ 1,772,132 $ (6,064,472 ) $ 2,412,691 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 19,994 $ 76,247 $ — $ — $ 96,241 Trade payable — — 4,550 — — 4,550 Total current liabilities — 19,994 80,797 — — 100,791 Term loan, net of debt issuance costs/discounts of $29,909 — 1,780,357 — — — 1,780,357 7.75% senior notes, net of debt issuance costs of $6,200 — 603,800 — — — 603,800 Other liabilities — 2,932 28,499 — — 31,431 Intercompany payables 103,229 1,616,678 — 231,949 (1,951,856 ) — Deferred income taxes — — — 527,236 (139,186 ) 388,050 Total liabilities 103,229 4,023,761 109,296 759,185 (2,091,042 ) 2,904,429 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 93,750,000 shares authorized; 32,031,054 shares issued and 29,225,765 shares outstanding 320 — — — — 320 Class C common stock, par value $0.01 per share; 80,609 shares authorized, issued and outstanding 1 — — — — 1 Treasury stock, at cost, 2,806,187 shares (229,310 ) — — — — (229,310 ) Additional paid-in-capital 1,624,815 275,107 4,191,057 1,991,009 (6,457,173 ) 1,624,815 Accumulated (deficit) equity (1,887,564 ) (663,616 ) (842,065 ) (978,062 ) 2,483,743 (1,887,564 ) Total stockholders’ (deficit) equity (491,738 ) (388,509 ) 3,348,992 1,012,947 (3,973,430 ) (491,738 ) Total liabilities and stockholders’ (deficit) equity $ (388,509 ) $ 3,635,252 $ 3,458,288 $ 1,772,132 $ (6,064,472 ) $ 2,412,691 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2015 (Dollars in thousands, except for share and per share data) 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 $ — $ 31,657 $ — $ — $ — $ 31,657 Restricted cash — 7,981 — — — 7,981 Accounts receivable, less allowance for doubtful accounts of $4,923 — — — 243,428 — 243,428 Trade receivable — — 4,146 — — 4,146 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 6,375 20,531 — — 26,906 Total current assets — 46,013 69,834 243,428 — 359,275 Property and equipment, net — 3,685 165,752 — — 169,437 Broadcast licenses — — — 1,578,066 — 1,578,066 Other intangible assets, net — — 174,530 — — 174,530 Goodwill — — 703,354 — — 703,354 Investment in consolidated subsidiaries 110,550 3,784,551 1,056,150 — (4,951,251 ) — Intercompany receivables — 95,072 1,650,829 — (1,745,901 ) — Other assets — 27,491 95,716 554 (106,035 ) 17,726 Total assets $ 110,550 $ 3,956,812 $ 3,916,165 $ 1,822,048 $ (6,803,187 ) $ 3,002,388 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 31,997 $ 86,399 $ — $ — $ 118,396 Trade payable — — 4,374 — — 4,374 Total current liabilities — 31,997 90,773 — — 122,770 Term loan, net of debt issuance costs/discounts of $37,524 — 1,801,416 — — — 1,801,416 7.75% senior notes, net of debt issuance costs of $8,515 — 601,485 — — — 601,485 Other liabilities — 3,963 40,841 — — 44,804 Intercompany payables 94,518 1,407,401 — 243,982 (1,745,901 ) — Deferred income taxes — — — 521,916 (106,035 ) 415,881 Total liabilities 94,518 3,846,262 131,614 765,898 (1,851,936 ) 2,986,356 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 93,750,000 shares authorized; 31,987,862 shares issued and 29,182,118 shares outstanding 320 — — — — 320 Class C common stock, par value $0.01 per share; 80,609 shares authorized, issued and outstanding 1 — — — — 1 Treasury stock, at cost, 2,805,743 shares (229,310 ) — — — — (229,310 ) Additional paid-in-capital 1,621,865 268,673 4,219,060 2,032,686 (6,520,419 ) 1,621,865 Accumulated (deficit) equity (1,376,844 ) (158,123 ) (434,509 ) (976,536 ) 1,569,168 (1,376,844 ) Total stockholders’ equity (deficit) 16,032 110,550 3,784,551 1,056,150 (4,951,251 ) 16,032 Total liabilities and stockholders’ equity (deficit) $ 110,550 $ 3,956,812 $ 3,916,165 $ 1,822,048 $ (6,803,187 ) $ 3,002,388 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 (Dollars in thousands) 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 $ (510,720 ) $ (505,493 ) $ (407,556 ) $ (1,526 ) $ 914,575 $ (510,720 ) Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation and amortization — 1,530 85,737 — — 87,267 Amortization of debt issuance costs/discounts — 9,771 — 190 — 9,961 Provision for doubtful accounts — — 1,103 — — 1,103 Gain on sale of assets or stations — — (95,695 ) — — (95,695 ) Impairment on intangible assets and goodwill — — 604,965 — — 604,965 Deferred income taxes (3,484 ) (65,292 ) 41,963 (1,018 ) — (27,831 ) Stock-based compensation expense — 2,948 — — — 2,948 Gain on early extinguishment of debt — (8,017 ) — — — (8,017 ) Earnings (loss) from consolidated subsidiaries 505,493 407,556 1,526 — (914,575 ) — Changes in assets and liabilities — 361,825 (392,415 ) 2,354 — (28,236 ) Net cash (used in) provided by operating activities (8,711 ) 204,828 (160,372 ) — — 35,745 Cash flows from investing activities: Proceeds from sale of assets or stations — — 106,935 — — 106,935 Restricted cash — (44 ) — — — (44 ) Capital expenditures — (2,276 ) (20,761 ) — — (23,037 ) Net cash (used in) provided by investing activities — (2,320 ) 86,174 — — 83,854 Cash flows from financing activities: Intercompany transactions, net 8,708 (82,906 ) 74,198 — — — Repayments of borrowings under revolving credit facilities — (20,000 ) — — — (20,000 ) Proceeds from exercise of warrants 3 — — — — 3 Net cash provided by (used in) financing activities 8,711 (102,906 ) 74,198 — — (19,997 ) Increase in cash and cash equivalents — 99,602 — — — 99,602 Cash and cash equivalents at beginning of period — 31,657 — — — 31,657 Cash and cash equivalents at end of period $ — $ 131,259 $ — $ — $ — $ 131,259 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 (Dollars in thousands) 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 $ (546,494 ) $ (541,253 ) $ (424,877 ) $ (1,349 ) $ 967,479 $ (546,494 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation and amortization — 1,525 100,580 — — 102,105 Amortization of debt issuance costs/discount — 9,351 — 190 — 9,541 Provision for doubtful accounts — — 4,501 — — 4,501 Gain on sale of assets or stations — — 2,856 — — 2,856 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Deferred income taxes (3,494 ) (77,584 ) 33,716 (900 ) — (48,262 ) Stock-based compensation expense — 21,033 — — — 21,033 Gain on early extinguishment of debt — (13,222 ) — — — (13,222 ) Earnings from consolidated subsidiaries 541,253 424,877 1,349 — (967,479 ) — Changes in assets and liabilities — 306,482 (343,115 ) 2,059 — (34,574 ) Net cash (used in) provided by operating activities (8,735 ) 131,209 (40,042 ) — — 82,432 Cash flows from investing activities: Proceeds from sale of assets or stations — — 9,201 — — 9,201 Restricted cash — 2,074 — — — 2,074 Capital expenditures — (2,557 ) (16,679 ) — — (19,236 ) Net cash used in investing activities — (483 ) (7,478 ) — — (7,961 ) Cash flows from financing activities: Intercompany transactions, net 8,727 (56,244 ) 47,517 — — — Repayments of borrowings under revolving credit facilities — (50,000 ) — — — (50,000 ) Tax withholding paid on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 8 — — — — 8 Net cash provided by (used in) financing activities 8,735 (106,337 ) 47,517 — — (50,085 ) Increase (decrease) in cash and cash equivalents — 24,389 (3 ) — — 24,386 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 31,657 $ — $ — $ — $ 31,657 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2014 (Dollars in thousands) 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) $ 11,769 $ 17,379 $ 148,874 $ (1,414 ) $ (164,839 ) $ 11,769 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 1,619 113,656 — — 115,275 Amortization of debt issuance costs/discounts — 9,302 — 191 — 9,493 Provision for doubtful accounts — — 4,302 — — 4,302 Gain on sale of assets or stations — — (1,342 ) — — (1,342 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (3,739 ) (81,993 ) 93,576 (942 ) — 6,902 Stock-based compensation expense — 17,638 — — — 17,638 Earnings from consolidated subsidiaries (17,379 ) (148,874 ) 1,414 — 164,839 — Changes in assets and liabilities — 349,463 (368,911 ) (7,814 ) — (27,262 ) Net cash (used in) provided by operating activities (9,349 ) 164,555 (8,431 ) (9,979 ) — 136,796 Cash flows from investing activities: Restricted cash — (3,909 ) — — — (3,909 ) Capital expenditures — (1,000 ) (18,006 ) — — (19,006 ) Proceeds from exchange of assets or stations — — 15,843 — — 15,843 Acquisition less cash required — — (8,500 ) — — (8,500 ) Net cash used in investing activities — (4,909 ) (10,663 ) — — (15,572 ) Cash flows from financing activities: Intercompany transactions, net (3,188 ) (50,909 ) 19,097 35,000 — — Repayment of borrowings under term loans and revolving credit facilities — (121,125 ) — (35,000 ) — (156,125 ) Proceeds from borrowings under term loans and revolving credit facilities — — — 10,000 — 10,000 Tax withholding payments on behalf of employees — (1,332 ) — — — (1,332 ) Proceeds from exercise of warrants 113 — — — — 113 Proceeds from exercise of options 620 — — — — 620 Deferred financing costs — — — (21 ) (21 ) Net cash (used in) provided by financing activities (2,455 ) (173,366 ) 19,097 9,979 — (146,745 ) (Decrease) increase in cash and cash equivalents (11,804 ) (13,720 ) 3 — — (25,521 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 7,268 $ 3 $ — $ — $ 7,271

Segment Data

Segment Data	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Data	Segment Data As described above, during the first quarter of 2016 the Company modified its management reporting framework, affecting how the Company evaluates operating performance and internally reports financial information. This modification resulted in a reorganization of its reportable segments. Historical information has been revised to reflect the change in segments, with no impact on consolidated results. The Company presents segment adjusted EBITDA ("Adjusted EBITDA") as the financial metric utilized by management and the chief operating decision maker to allocate resources of the Company and to analyze the performance of the Company’s reportable segments. This measure isolates the amount of income generated by our core operations before the incurrence of corporate expenses. Management also uses this measure to determine the contribution of our core operations to the funding of our corporate resources utilized to manage our operations and our non-operating expenses including debt service and acquisitions. In addition, Adjusted EBITDA, excluding the impact of LMA fees, is a key metric for purposes of calculating and determining compliance with certain covenants in our Credit Agreement. In deriving this measure, the Company excludes depreciation, amortization, and stock-based compensation expense, as these do not represent cash payments for activities directly related to our core operations. The Company also excludes any gain or loss on the exchange or sale of any assets or stations and any gain or loss on derivative instruments, early extinguishment of debt, and LMA Fees as they do not represent cash transactions nor are they associated with core operations. Expenses relating to acquisitions and restructuring costs are also excluded from the calculation of Adjusted EBITDA as they are not directly related to our core operations. The Company excludes any costs associated with impairment of assets as they do not require a cash outlay. The Company believes that Adjusted EBITDA, although not a measure that is calculated in accordance with GAAP, nevertheless is commonly employed by the investment community as a measure for determining the market value of a media company. The Company has also observed that Adjusted EBITDA is routinely employed to evaluate and negotiate the potential purchase price for media companies. Given the relevance to the Company’s overall value, the Company believes that investors consider the metric to be extremely useful. Adjusted EBITDA should not be considered in isolation or as a substitute for net income (loss), operating income, cash flows from operating activities or any other measure for determining the Company’s operating performance or liquidity that is calculated in accordance with GAAP. In addition, Adjusted EBITDA may be defined or calculated differently by other companies, and comparability may be limited. The Company’s financial data by segment is presented in the tables below: Year Ended December 31, 2016 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 802,396 $ 336,610 $ 2,394 $ 1,141,400 Year Ended December 31, 2015 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 796,383 $ 368,968 $ 3,328 $ 1,168,679 Year Ended December 31, 2014 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 838,567 $ 421,000 $ 3,856 $ 1,263,423 Year Ended 2016 2015 2014 Adjusted EBITDA by segment Radio Station Group $ 218,192 $ 241,673 $ 273,483 Westwood One 22,984 52,958 $ 86,231 Segment Adjusted EBITDA 241,176 294,631 359,714 Adjustments Corporate and other (35,309 ) (35,486 ) $ (30,188 ) Income tax benefit (expense) 26,154 45,840 (10,254 ) Non operating expense, including net interest expense (136,102 ) (127,041 ) (139,807 ) LMA fees (12,824 ) (10,129 ) (7,195 ) Depreciation and amortization (87,267 ) (102,105 ) (115,276 ) Stock-based compensation expense (2,948 ) (21,035 ) (17,638 ) Gain (loss) on sale of assets or stations 95,695 (2,856 ) 1,343 Impairment of intangible assets (604,965 ) (565,580 ) — Impairment charges - equity interest in Pulser Media — (19,364 ) — Acquisition-related and restructuring costs (1,817 ) (16,641 ) (28,326 ) Franchise and state taxes (530 ) 50 (604 ) Gain on early extinguishment of debt 8,017 13,222 — Consolidated net (loss) income $ (510,720 ) $ (546,494 ) $ 11,769

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II CUMULUS MEDIA INC. FINANCIAL STATEMENT SCHEDULE VALUATION AND QUALIFYING ACCOUNTS Fiscal Year Balance at Beginning of Year Charged to Costs and Expenses Deductions Balance at End of Year Allowance for doubtful accounts 2016 $ 4,923 $ 1,103 $ (1,335 ) $ 4,691 2015 $ 6,004 $ 4,501 $ (5,582 ) $ 4,923 2014 $ 5,306 $ 4,302 $ (3,604 ) $ 6,004 Valuation allowance on deferred taxes 2016 $ 17,173 $ 32 $ — $ 17,205 2015 $ 18,991 $ 517 $ (2,335 ) $ 17,173 2014 $ 16,802 $ 2,189 $ — $ 18,991

Description of Business, Basi25

Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [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.
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Reportable Segments	Reportable Segments During the first quarter of 2016, the Company modified its management reporting framework affecting how the Company evaluates operating performance and internally reports financial information. This modification resulted in a reorganization of the Company's reportable segments. Prior to this reorganization, the Company operated in one reportable business segment which consisted of radio broadcasting, advertising and related services. The Company now operates in two reportable segments, the Radio Station Group and Westwood One, for which there is discrete financial information available and whose operating results are reviewed by the chief operating decision maker. Historical information included in these financial statements has been revised to reflect the change to two segments, with no impact to previously disclosed consolidated results (See Note 4, "Intangible Assets and Goodwill" and Note 16, "Segment Data").
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 evaluated its estimates, including significant estimates related to revenue recognition, bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, and, if applicable, purchase price allocation. The Company based 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.
Comprehensive Income	Comprehensive Income Comprehensive income (loss) includes net income (loss) and certain items that are excluded from net income (loss) and recorded as a separate component of stockholders' equity (deficit). During the years ended December 31, 2016, 2015 and 2014, the Company had no items of other comprehensive income (loss) and, therefore, comprehensive income does not differ from reported net income (loss).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considered all highly liquid investments with original maturities of three months or less to be cash equivalents.
Accounts Receivable, Allowance for Doubtful Accounts and Concentration of Credit Risk	Accounts Receivable, Allowance for Doubtful Accounts and Concentration of Credit Risk Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determined the allowance based on several factors, including the length of time receivables are past due, trends and current economic factors. All balances are reviewed and evaluated quarterly on a consolidated basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. In the opinion of management, credit risk with respect to accounts receivable is limited due to the large number of customers and the geographic diversification of the Company’s customer base. The Company performs ongoing credit evaluations of its customers and believes that adequate allowances for any uncollectible accounts receivable are maintained.
Assets Held for Sale	Assets Held for Sale During the year ended December 31, 2015 , the Company entered into an agreement to sell certain land in the Company's Washington, DC market to a third party. The closing of the transaction is subject to various conditions and approvals, which remain pending. The identified assets have been classified as held for sale in the accompanying consolidated balance sheets at December 31, 2016 and 2015 . The estimated fair value of the land and buildings to be disposed of are in excess of their carrying value.
Insurance Recoveries	Insurance Recoveries During the year ended December 31, 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 income (expense), net and $2.2 million as an offset to corporate expenses in the consolidated statement of operations for the year ended December 31, 2015.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Property and equipment acquired in business combinations accounted for under the purchase method of accounting are recorded at their estimated fair values on the date of acquisition. Equipment held under capital leases is stated at the present value of minimum future lease payments. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the assets. Equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining term of the lease. Depreciation of construction in progress is not recorded until the assets are placed into service.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, such as property and equipment and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Intangible Assets and Goodwill	Intangible Assets and Goodwill The Company’s intangible assets are comprised of broadcast licenses, certain other intangible assets and goodwill. Goodwill is equal to the difference between the purchase price and the value assigned to the tangible and intangible assets acquired and liabilities assumed in a business combination. Intangible assets and goodwill acquired in a business combination and determined to have an indefinite useful life, which include the Company’s broadcast licenses, are not amortized, but instead tested for impairment at least annually, or if a triggering event occurs. Intangible assets with definite useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. In determining that the Company’s broadcast licenses qualified as indefinite lived intangibles, management considered a variety of factors including the Federal Communications Commission’s (“FCC”) historical record of renewing broadcast licenses, the cost to the Company of renewing such licenses, the relative stability and predictability of the radio industry and the relatively low level of capital investment required to maintain the physical plant of a radio station. The Company's evaluation of the recoverability of its indefinite-lived assets, which include FCC licenses and goodwill, is based on certain judgments and estimates. Future events may impact these judgments and estimates. If events or changes in circumstances were to indicate that an asset’s carrying value is not recoverable, a write-down of the asset would be recorded through a charge to operations.
Investments	Investments The Company follows Accounting Standards Codification (“ASC”) Topic 325-20, Cost Method Investments (“ASC 325-20”) to account for its ownership interest in noncontrolled entities. Under ASC 325-20, equity securities that do not have readily determinable fair values (i.e., non-marketable equity securities) and are not required to be accounted for under the equity method are typically carried at cost (i.e., cost method investments). Investments of this nature are initially recorded at cost. Income is recorded for dividends received that are distributed from net accumulated earnings of the noncontrolled entity subsequent to the date of investment. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions in the cost of the investment. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred.
Debt Issuance Costs	Debt Issuance Costs The costs related to the issuance of debt are capitalized and amortized to interest expense over the life of the related debt using the effective interest method.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivatives on the consolidated balance sheets at fair value. Fair value changes are recorded as income for any contracts not classified as qualifying hedging instruments.
Revenue Recognition	Revenue Recognition Revenue is derived primarily from the sale of commercial airtime to local and national advertisers. Revenue is recognized as commercials are broadcast. Revenues presented in the financial statements are reflected on a net basis, after the deduction of advertising agency fees by the advertising agencies, usually at a rate of 15.0% , which is the industry standard. In those instances in which we function as the principal in the transaction, the revenue and associated operating costs are presented on a gross basis. In those instances where we function as an agent or sales representative, our effective commission is presented as revenue with no corresponding operating expenses.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred.
Local Marketing Agreements	Local Marketing Agreements In certain circumstances, the Company may enter into a local marketing agreement (“LMA”) or time brokerage agreement with an FCC licensee of a radio station. In a typical LMA, the licensee of the station makes available, for a fee, airtime on its station to a party, which supplies programming to be broadcast on that airtime, and collects revenues from advertising aired during such programming. Revenues earned and fees incurred pursuant to LMAs or time brokerage agreements are recognized at their gross amounts in the accompanying consolidated statements of operations.
Stock-based Compensation Expense	Stock-based Compensation Expense Stock-based compensation expense recognized under ASC Topic 718, Compensation — Share-Based Payment (“ASC 718”), for the years ended December 31, 2016 , 2015 and 2014 , was $2.9 million , $21.0 million , and $17.6 million , respectively. Upon adopting ASC 718 for awards with service conditions, an election was made to recognize stock-based compensation expense on a straight-line basis over the requisite service period for the entire award. For stock options with service conditions only, the Company utilized the Black-Scholes option pricing model to estimate the fair value of options issued. For restricted stock awards with service conditions, the Company utilized the intrinsic value method. For restricted stock awards with performance conditions, the Company evaluated the probability of vesting of the awards in each reporting period and adjusted compensation cost based on this assessment. The fair value is based on the use of certain assumptions regarding a number of highly complex and subjective variables. If other assumptions are used, the results could differ.
Trade Transactions	Trade Transactions The Company provided commercial airtime in exchange for goods and services used principally for promotional, sales, programming and other business activities. An asset and liability is recorded at the fair value of the goods or services received. Trade revenue is recorded and the liability is relieved when commercials are broadcast and trade expense is recorded and the asset relieved when goods or services are consumed. Trade valuation is based upon management’s estimate of the fair value of the products, supplies and services received.
Income Taxes	Income Taxes The Company used the liability method of accounting for deferred income taxes. Deferred income taxes are recognized for all temporary differences between the tax and financial reporting bases of the Company’s assets and liabilities based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recorded for a net deferred tax asset balance when it is more likely than not that the benefits of the tax asset will not be realized. The Company continues to assess the need for its deferred tax asset valuation allowance in the jurisdictions in which it operates. Any adjustment to the deferred tax asset valuation allowance is recorded in the income statement of the period that the adjustment is determined to be required. See Note 13, “Income Taxes” for further discussion.
Earnings per Share	Earnings per Share Basic income (loss) per share is computed on the basis of the weighted average number of common shares outstanding. The Company allocated undistributed net income (loss) from continuing operations between each class of common stock on an equal basis after any allocations for preferred stock dividends in accordance with the terms of the Company’s third amended and restated certificate of incorporation, as amended (the “Third Amended and Restated Charter”). Non-vested restricted shares of Class A common stock and Company Warrants (defined below) are considered participating securities for purposes of calculating basic weighted average common shares outstanding in periods in which the Company recorded net income. Diluted earnings per share is computed in the same manner as basic earnings per share after assuming the issuance of common stock for all potentially dilutive equivalent shares, which included stock options and certain other outstanding warrants to purchase common stock. Antidilutive instruments are not considered in this calculation. Under the two-class method, net income is allocated to common stock and participating securities to the extent that each security may share in earnings, as if all of the earnings for the period had been distributed. Earnings are allocated to each participating security and common share equally, after deducting dividends declared or accreted on preferred stock.
Fair Values of Financial Instruments	Fair Values of Financial Instruments The carrying values of cash equivalents, restricted cash, accounts receivables, accounts payable, trade payables and receivables and accrued expenses approximate fair value due to the short term to maturity of these instruments (See Note 7, "Fair Value Measurements").
Accounting for National Advertising Agency Contract	Accounting for National Advertising Agency Contract The Company has engaged Katz Media Group, Inc. (“Katz”) as its national advertising sales agent. The Company’s contract with Katz has several economic elements that principally reduce the overall expected commission rate below the stated base rate. The Company estimates the overall expected commission rate over the entire contract period and applies that rate to commissionable revenue throughout the contract period with the goal of estimating and recording a stable commission rate over the life of the contract. The potential commission adjustments are estimated and combined in the consolidated balance sheets with the contractual termination liability. That liability is accreted to commission expense to effectuate the stable commission rate over the term of the Katz contract. Over the term of the contract with Katz, management updates its assessment of the effective commission expense attributable to national sales in an effort to record a consistent commission rate in each period. The Company’s accounting for and calculation of commission expense to be realized over the life of the Katz contract requires management to make estimates and judgments that affect reported amounts of commission expense in each period. Actual results in any period may differ from management’s estimates.
Variable Interest Entities	Variable Interest Entities The Company accounted for entities qualifying as variable interest entities (“VIEs”) in accordance with ASC Topic 810, Consolidation (“ASC 810”). VIEs are required to be consolidated by the primary beneficiary. The primary beneficiary is the entity that holds the majority of the beneficial interests in the VIE. A VIE is an entity for which the primary beneficiary’s interest in the entity can change with changes in factors other than the amount of investment in the entity. From time to time, the Company enters into LMAs in connection with pending acquisitions or dispositions of radio stations and the requirements of ASC 810 may apply, depending on the facts and circumstances related to each transaction.
Adoption of New Accounting Standards and Recent Accounting Standards Updates	Adoption of New Accounting Standards ASU 2015-03. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. We adopted this standard retrospectively in the first quarter of 2016. The balance sheet as of December 31, 2015 was retrospectively adjusted, which resulted in reductions to other assets of $22.4 million and long-term debt of $22.4 million . ASU 2014-15. In August 2014, the FASB issued ASU 2014-15. The amendments in this ASU 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. These amendments should standardize the timing and content of footnote disclosures. The Company adopted this ASU effective December 31, 2016. The adoption of this guidance did not have an impact on the consolidated financial statements. Recent Accounting Standards Updates ASU 2014-09 and related updates. 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. In March 2016, the FASB issued ASU 2016-08 which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10 which amends the revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations as well as clarifies when a promised good or service is separately identifiable. In May 2016, the FASB issued ASU 2016-12 which provides clarifying guidance in certain narrow areas such as an assessment of collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition as well as adds some practical expedients. In December 2016, the FASB issued ASU 2016-20 which provides technical corrections and improvements to Topic 606. The amendments in ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 may be applied either retrospectively to each prior period presented or retrospectively with the cumulative effect of initially applying ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and 2016-20 at the date of initial application. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. The new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. The Company does not plan to early adopt, and accordingly, will adopt the new standard effective January 1, 2018. The Company is currently evaluating the adoption approach. The Company's final determination will depend on a number of factors, such as the significance of the impact of the new standard on our financial results, system readiness, and our ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements and the Company's ability to maintain two sets of financials under current and new standards if we were to adopt the full retrospective approach. The Company is in the initial stages of our evaluation of the impact of the new standard on our accounting policies, processes, and system requirements. The Company has assigned internal resources to the evaluation to enable timely and accurate reporting under the new standard. The Company continues to assess the potential impacts of the new standard, including the areas described above, and anticipate this standard could have a material impact on our consolidated financial statements, we do not know or cannot reasonably estimate quantitative information related to the impact of the new standard on our financial statements at this time. ASU 2016-01. In January 2016, the FASB issued ASU 2016-01. The amendments in this ASU enhance the reporting model for financial instruments including aspects of recognition, measurement, presentation and disclosure of financial instruments. The new guidance revises the accounting requirements related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The update also changes certain disclosure requirements associated with the fair value of financial instruments. These changes will require an entity to measure, at fair value, investments in equity securities and other ownership interests in an entity - including investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method - and recognize the changes in fair value within net income. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is not permitted, except for certain amendments within the ASU. The Company is currently assessing the expected impact, if any, that this ASU will have on the consolidated financial statements. ASU 2016-02. In February 2016, the FASB issued ASU 2016-02. The amendments in this ASU provide guidance for accounting for leases. This update requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods thereafter. A modified retrospective transition method is required, with the option to elect a package of practical expedients. Early adoption is permitted. The Company is currently assessing the expected impact that this ASU will have on the consolidated financial statements. ASU 2016-09. In March 2016, the FASB issued ASU 2016-09. The amendments in this ASU provide guidance for employee share-based payment accounting. This update removes the requirement that reporting entities present tax benefits as excess cash flows from financing activities and cash flows from operating activities. As a result of this amendment, cash flows related to excess tax benefits will be classified only in operating activities. This ASU will be effective for fiscal years beginning after December 15, 2016, and interim periods thereafter. The Company does not expect that this ASU will have a material impact on the consolidated financial statements. ASU 2016-15 . In August 2016, the FASB issued ASU 2016-15. The amendments in the ASU provide guidance for several new and/or revised disclosures pertaining to the classification of certain cash receipts and cash payments on the statement of cash flows, including contingent consideration payments made after a business acquisition. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2016-16 . In October 2016, the FASB issued ASU 2016-16. The amendments in the ASU provide guidance for the accounting for the income tax consequences of intra-entity transfers of assets other than inventory when the transfer occurs between entities in different tax jurisdictions. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2016-18 . In November 2016, the FASB issued ASU 2016-18. The amendments in the ASU provide guidance for the accounting for the disclosure of restricted cash on the Statement of Cash Flows. This ASU will be effective for fiscal years beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2017-01. In January 2017, the FASB issued final guidance that revises the definition of a business. The definition of a business affects many areas of accounting (e.g., acquisitions, disposals, goodwill impairment, consolidation). According to feedback received by the FASB, application of the current guidance is commonly thought to be too complex and results in too many transactions qualifying as business combinations. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operation or disclosures. ASU 2017-04. In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company intends to early adopt this ASU effective January 1, 2017. As this standard is prospective in nature, the impact to our financial statements by not performing Step 2 to measure the amount of any potential goodwill impairment will depend on various factors. However, the elimination of Step 2 will reduce the complexity and cost of subsequent measurements of goodwill.
Fair Value Measurements	The three levels of the fair value hierarchy to be applied when determining fair value of financial instruments 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.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Components of Property and Equipment	Property and equipment consisted of the following as of December 31, 2016 and 2015 (dollars in thousands): Estimated Useful Life 2016 2015 Land $ 63,484 $ 63,627 Broadcasting and other equipment 3 to 30 years 234,760 229,989 Computer and capitalized software costs 1 to 3 years 29,591 28,959 Furniture and fixtures 5 years 14,899 14,183 Leasehold improvements 5 years 40,242 36,242 Buildings 9 to 20 years 46,351 45,988 Construction in progress 14,036 2,043 443,363 421,031 Less: accumulated depreciation (281,300 ) (251,594 ) $ 162,063 $ 169,437

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following tables present goodwill balances and accumulated impairment losses on a segment and consolidated basis as of December 31, 2015 and December 31, 2016 (dollars in thousands): Radio Station Group Goodwill: Balance as of December 31, 2015: Goodwill $ 1,278,526 Accumulated impairment losses (710,386 ) Total $ 568,140 Balance as of December 31, 2016: Goodwill 1,278,526 Accumulated impairment losses (1,278,526 ) Total $ — Westwood One Goodwill: Balance as of December 31, 2015: Goodwill $ 304,280 Accumulated impairment losses (169,066 ) Total $ 135,214 Balance as of December 31, 2016: Goodwill 304,280 Accumulated impairment losses (169,066 ) Total $ 135,214 Consolidated Goodwill: Balance as of December 31, 2015: Goodwill $ 1,582,806 Accumulated impairment losses (879,452 ) Total $ 703,354 Balance as of December 31, 2016: Goodwill 1,582,806 Accumulated impairment losses (1,447,592 ) Total $ 135,214
Schedule of Changes in Intangible Assets Other Than Goodwill	The following table presents the changes in intangible assets, other than goodwill, on a consolidated basis during the period December 31, 2015 to December 31, 2016 , and balances as of such dates (dollars in thousands): FCC Licenses Definite-Lived Total Intangible Assets: Balance as of January 1, 2015 $ 1,596,715 $ 243,640 $ 1,840,355 Impairment (15,873 ) — (15,873 ) Disposition (2,776 ) — (2,776 ) Amortization — (69,110 ) (69,110 ) Balance as of December 31, 2015 $ 1,578,066 $ 174,530 $ 1,752,596 Balance as of January 1, 2016 $ 1,578,066 $ 174,530 $ 1,752,596 Impairment (35,000 ) (1,816 ) (36,816 ) Disposition (2,883 ) — (2,883 ) Amortization — (56,215 ) (56,215 ) Balance as of December 31, 2016 $ 1,540,183 $ 116,499 $ 1,656,682
Estimated Future Amortization Expense	As of December 31, 2016 , estimated future amortization expense related to the Company's definite-lived intangible assets was as follows (dollars in thousands): 2017 $ 33,505 2018 18,201 2019 17,257 2020 17,197 2021 17,114 Thereafter 13,225 Total other intangibles, net $ 116,499
Schedule of Goodwill	The table below presents the percentages by which the fair value was above the carrying value of the Company's reporting units under the Step 1 test as of December 31, 2016 (dollars in thousands). Reporting Unit 1 Reporting Unit 2 Reporting Unit 3 Goodwill balance $ 568,141 $ 135,213 N/A ** Carrying value (including goodwill) $ 2,040,207 $ 194,282 N/A ** Percentage fair value above carrying value N/A* 63.8 % N/A ** * Reporting Unit 1 failed the Step 1 test ** Contains no goodwill

Accounts Payable and Accrued 28

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Components of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following as of December 31, 2016 and 2015 (dollars in thousands): December 31, 2016 December 31, 2015 Accrued employee costs $ 30,887 $ 22,169 Accrued third party content costs 29,285 36,166 Accounts payable 12,739 11,492 Accrued other 14,494 23,998 Accrued interest 8,334 8,106 Accrued retention and severance costs 502 10,465 Advance deposit received — 6,000 Total accounts payable and accrued expenses $ 96,241 $ 118,396

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Components of Long-term Debt	The Company’s long-term debt consisted of the following at December 31, 2016 and 2015 (dollars in thousands): December 31, 2016 December 31, 2015 Term Loan $ 1,810,266 $ 1,838,940 Less: unamortized term loan discount and debt issuance costs (29,909 ) (37,524 ) Total term loan 1,780,357 1,801,416 7.75% Senior Notes 610,000 610,000 Less: unamortized debt issuance costs (6,200 ) (8,515 ) Total 7.75% Senior Notes 603,800 601,485 Less: Current portion of long-term debt — — Long-term debt, net $ 2,384,157 $ 2,402,901
Future Maturities of Long-Term Debt	A summary of the future maturities of long-term debt follows, exclusive of the discount and issuance costs of debt (dollars in thousands): 2017 $ — 2018 — 2019 610,000 2020 1,810,266 2021 — Thereafter — $ 2,420,266

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Components of Change in Fair Value Associated With Green Bay Option	The reconciliation below contains the components of the change in fair value associated with the equity interest in Pulser Media Inc. ("Pulser") for the year ended December 31, 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 December 31, 2015 $ —
Schedule of Gross Amounts and Fair Value of Company's First Lien Term Loan, Second Lien Term Loan, Revolving Credit Facility and 7.75% Senior Notes	The following table shows the gross amount and fair value of the Company’s Term Loan and 7.75% Senior Notes (dollars in thousands): December 31, 2016 December 31, 2015 Term Loan: Carrying value $ 1,810,266 $ 1,838,940 Fair value — Level 2 1,226,455 1,360,816 7.75% Senior Notes: Carrying value $ 610,000 $ 610,000 Fair value — Level 2 249,673 204,350

Stock-Based Compensation Expe31

Stock-Based Compensation Expense (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Equity Award Activity	The following tables summarize the Company’s equity award activity for the year ended December 31, 2016 : Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Options to Purchase Class A Common Stock Outstanding at January 1, 2016 3,216,193 $ 34.88 Granted 389,938 5.96 Exercised — — Forfeited/Canceled (41,523 ) 42.85 Expired (92,153 ) 37.61 Outstanding at December 31, 2016 3,472,455 $ 31.46 6.36 $ 392 Vested or expected to vest at December 31, 2016 3,472,455 $ 31.46 6.36 $ 18,081 Exercisable at December 31, 2016 2,620,358 $ 36.94 5.55 $ 668
Summary of Company's Restricted Common Stock Awards Activity	Number of Restricted Stock Awards (in thousands) Weighted- Average Grant Date Fair Value (in thousands) Restricted Common Stock Awards Outstanding at January 1, 2016 30,365 $ 19.76 Granted — — Vested (30,365 ) 19.76 Forfeited — — Outstanding awards at December 31, 2016 — $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	Income tax (benefit) expense from continuing operations for the years ended December 31, 2016 , 2015 and 2014 consisted of the following (dollars in thousands): 2016 2015 2014 Current income tax expense State and local $ 1,678 $ 2,422 $ 3,352 Total current income tax expense $ 1,678 $ 2,422 $ 3,352 Deferred tax (benefit) expense Federal $ (19,496 ) $ (48,123 ) $ 7,172 State and local (8,336 ) (139 ) (270 ) Total deferred tax (benefit) expense (27,832 ) (48,262 ) 6,902 Total income tax (benefit) expense $ (26,154 ) $ (45,840 ) $ 10,254
Total Income Tax Expense (Benefit) Differed From Amount Computed by Applying Federal Statutory Tax Rate	Total income tax (benefit) expense from continuing operations differed from the amount computed by applying the federal statutory tax rate of 35.0% for the years ended December 31, 2016 , 2015 and 2014 because of the following (dollars in thousands): 2016 2015 2014 Pretax (loss) income at federal statutory rate $ (187,906 ) $ (207,317 ) $ 7,707 State income tax (benefit) expense, net federal (benefit) expense (1,812 ) (1,385 ) 992 Meals and entertainment 429 380 424 Change in state tax rates (1,618 ) 1,605 (1,580 ) Section 162 disallowance 538 110 562 Impairment charges on goodwill with no tax basis 163,630 153,371 — Increase in valuation allowance 32 190 2,189 Other 553 7,206 (40 ) Net income tax (benefit) expense $ (26,154 ) $ (45,840 ) $ 10,254
Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2016 and 2015 are presented below (dollars in thousands): 2016 2015 Noncurrent deferred tax assets: Accounts receivable $ 1,422 $ 1,849 Advertising relationships 2,548 3,686 Other liabilities 27,014 28,140 AMT tax credit 2,042 2,042 Net operating loss 111,778 155,475 Noncurrent deferred tax assets 144,804 191,192 Less: valuation allowance (17,205 ) (17,173 ) Net noncurrent deferred tax assets 127,599 174,019 Noncurrent deferred tax liabilities: Intangible assets 482,620 527,775 Property and equipment 20,485 30,260 Cancellation of debt income 12,544 31,865 Noncurrent deferred tax liabilities 515,649 589,900 Net noncurrent deferred tax liabilities 388,050 415,881 Net deferred tax liabilities $ 388,050 $ 415,881
Schedule of Unrecognized Tax Benefits Roll Forward	The following table reconciles unrecognized tax benefits during the relevant years: Balance at January 1, 2015 $ 14,466 Settlements (1,180 ) Lapse of statute of limitations (657 ) Balance at December 31, 2015 $ 12,629 Increase for prior year positions 275 Lapse of statute of limitations (1,014 ) Balance at December 31, 2016 $ 11,890

(Loss) Earnings Per Share (_E33

(Loss) Earnings Per Share (“EPS”) (Tables)	12 Months Ended
	Dec. 31, 2016
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 years ended December 31, 2016 , 2015 and 2014 (amounts in thousands, except per share data): 2016 2015 2014 Basic (Loss) Earnings Per Share Numerator: Undistributed net (loss) income continuing operations $ (510,720 ) $ (546,494 ) $ 11,769 Less: Participation rights of the Company Warrants in undistributed earnings — — 358 Participation rights of unvested restricted stock in undistributed earnings — — 12 Basic undistributed net (loss) income from operations — attributable to common shares $ (510,720 ) $ (546,494 ) $ 11,399 Denominator: Basic weighted average common shares outstanding 29,270 29,177 28,268 Basic (loss) income from operations per share — attributable to common shares $ (17.45 ) $ (18.72 ) $ 0.40 Diluted (Loss) Earnings Per Share Numerator: Undistributed net (loss) income from operations $ (510,720 ) $ (546,494 ) $ 11,769 Less: Participation rights of the Company Warrants in undistributed net income — — 354 Participation rights of unvested restricted stock in undistributed earnings — — 12 Basic undistributed net (loss) income from continuing operations — attributable to common shares $ (510,720 ) $ (546,494 ) $ 11,403 Denominator: Basic weighted average shares outstanding 29,270 29,177 28,268 Effect of dilutive options and warrants — — 352 Diluted weighted average shares outstanding 29,270 29,177 28,620 Diluted (loss) income from operations per share — attributable to common shares $ (17.45 ) $ (18.72 ) $ 0.40

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Future Minimum Lease Payments under Non-Cancelable Operating Leases	Future minimum payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year), future minimum sublease income to be received and a lease commitment under a sale leaseback agreement as of December 31, 2016 are as follows (in thousands): Year Ending December 31: Future Minimum Rent Under Operating Leases Future Minimum Sublease Income Future Minimum Commitments Under Sale Leaseback Agreement Net Commitments 2017 23,503 (1,028 ) 1,114 23,589 2018 20,540 (1,028 ) 1,153 20,665 2019 17,695 (1,028 ) 1,193 17,860 2020 13,723 (1,028 ) — 12,695 2021 10,880 (1,028 ) — 9,852 Thereafter 32,481 (2,314 ) — 30,167 $ 118,822 $ (7,454 ) $ 3,460 $ 114,828

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results	The following table presents the Company’s selected unaudited quarterly results for each of the quarters ended during 2015 and 2016 (dollars in thousands, except per share data): Three Months Ended March 31, June 30, September 30, December 31, FOR THE YEAR ENDED DECEMBER 31, 2016 Net revenue $ 268,530 $ 287,193 $ 286,136 $ 299,541 Operating income (loss) $ 10,114 $ 36,665 $ 113,017 $ (568,585 ) (Loss) income before income taxes $ (23,562 ) $ 2,315 $ 79,109 $ (594,736 ) Net (loss) income $ (14,429 ) $ 1,066 $ 46,321 $ (543,677 ) Basic: (Loss) income per share $ (0.49 ) $ 0.04 $ 1.58 $ (18.57 ) Diluted: (Loss) income per share $ (0.49 ) $ 0.04 $ 1.58 $ (18.57 ) FOR THE YEAR ENDED DECEMBER 31, 2015 Net revenue $ 271,079 $ 299,334 $ 289,441 $ 308,825 Operating income (loss) $ 11,875 $ 48,003 $ (567,214 ) $ 28,821 (Loss) income before income taxes $ (22,372 ) $ 24,991 $ (603,034 ) $ 8,081 Net (loss) income $ (12,015 ) $ 12,299 $ (542,179 ) $ (4,599 ) Basic: (Loss) income per share $ (0.40 ) $ 0.40 $ (18.56 ) $ (0.16 ) Diluted: (Loss) income per share $ (0.40 ) $ 0.40 $ (18.56 ) $ (0.16 )

Supplemental Condensed Consol36

Supplemental Condensed Consolidating Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statements of Operations	CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2016 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non- guarantors Eliminations Total Consolidated Net revenue $ — $ 165 $ 1,141,235 $ — $ — $ 1,141,400 Operating expenses: Content costs — — 427,780 — — 427,780 Selling, general & administrative expenses — — 470,546 2,354 — 472,900 Depreciation and amortization — 1,530 85,737 — — 87,267 LMA fees — — 12,824 — — 12,824 Corporate expenses (including stock-based compensation expense of $2,948) — 40,148 — — — 40,148 Gain on sale of assets or stations — — (95,695 ) — — (95,695 ) Impairment on intangible assets and goodwill — — 604,965 — — 604,965 Total operating expenses — 41,678 1,506,157 2,354 — 1,550,189 Operating loss — (41,513 ) (364,922 ) (2,354 ) — (408,789 ) Non-operating (expense) income: Interest (expense) income, net (8,711 ) (129,733 ) 493 (190 ) — (138,141 ) Gain on early extinguishment of debt — 8,017 — — — 8,017 Other income, net — — 2,039 — — 2,039 Total non-operating (expense) income, net (8,711 ) (121,716 ) 2,532 (190 ) — (128,085 ) Loss before income taxes (8,711 ) (163,229 ) (362,390 ) (2,544 ) — (536,874 ) Income tax benefit (expense) 3,484 65,292 (43,640 ) 1,018 — 26,154 (Loss) earnings from consolidated subsidiaries (505,493 ) (407,556 ) (1,526 ) — 914,575 — Net (loss) income $ (510,720 ) $ (505,493 ) $ (407,556 ) $ (1,526 ) $ 914,575 $ (510,720 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2015 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non- guarantors Eliminations Total Consolidated Net revenue $ — $ 500 $ 1,168,179 $ — $ — $ 1,168,679 Operating expenses: Content costs — — 396,426 — — 396,426 Selling, general & administrative expenses — — 475,268 2,059 — 477,327 Depreciation and amortization — 1,525 100,580 — — 102,105 LMA fees — — 10,129 — — 10,129 Corporate expenses (including stock-based compensation expense of $21,033) — 73,403 — — — 73,403 Loss on sale of assets or stations — — 2,856 — — 2,856 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest Pulser Media Inc. — — 19,364 — — 19,364 Total operating expenses — 74,928 1,570,207 2,059 — 1,647,194 Operating loss — (74,428 ) (402,028 ) (2,059 ) — (478,515 ) Non-operating (expense) income: Interest (expense) income, net (8,735 ) (132,754 ) 433 (190 ) — (141,246 ) Gain on early extinguishment of debt — 13,222 — — — 13,222 Other income, net — — 14,205 — — 14,205 Total non-operating (expense) income, net (8,735 ) (119,532 ) 14,638 (190 ) — (113,819 ) Loss from continuing operations before income taxes (8,735 ) (193,960 ) (387,390 ) (2,249 ) — (592,334 ) Income tax benefit (expense) 3,494 77,584 (36,138 ) 900 — 45,840 Loss from continuing operations (5,241 ) (116,376 ) (423,528 ) (1,349 ) — (546,494 ) (Loss) earnings from consolidated subsidiaries (541,253 ) (424,877 ) (1,349 ) — 967,479 — Net (loss) income $ (546,494 ) $ (541,253 ) $ (424,877 ) $ (1,349 ) $ 967,479 $ (546,494 ) CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2014 (Dollars in thousands) Cumulus Media Inc. (Parent Guarantor) Cumulus Media Holdings Inc. (Subsidiary Issuer) Subsidiary Guarantors Subsidiary Non-guarantors Eliminations Total Consolidated Net revenue $ — $ 479 $ 1,262,944 $ — $ — $ 1,263,423 Operating expenses: Content costs — — 433,596 — — 433,596 Selling, general & administrative expenses — — 468,349 2,092 — 470,441 Depreciation and amortization — 1,619 113,656 — — 115,275 LMA fees — — 7,195 — — 7,195 Corporate expenses (including stock-based compensation expense of $17,638) — 76,428 — — — 76,428 Gain on sale of assets or stations — — (1,342 ) — — (1,342 ) Total operating expenses — 78,047 1,021,454 2,092 — 1,101,593 Operating (loss) income — (77,568 ) 241,490 (2,092 ) — 161,830 Non-operating (expense) income: Interest (expense) income, net (9,349 ) (135,920 ) 1,388 (264 ) — (144,145 ) Other expense, net — — 4,338 — — 4,338 Total non-operating (expense) income, net (9,349 ) (135,920 ) 5,726 (264 ) — (139,807 ) (Loss) income from continuing operations before income taxes (9,349 ) (213,488 ) 247,216 (2,356 ) — 22,023 Income tax benefit (expense) 3,739 81,993 (96,928 ) 942 — (10,254 ) (Loss) income from continuing operations (5,610 ) (131,495 ) 150,288 (1,414 ) — 11,769 Earnings (loss) from consolidated subsidiaries 17,379 148,874 (1,414 ) — (164,839 ) — Net income (loss) $ 11,769 $ 17,379 $ 148,874 $ (1,414 ) $ (164,839 ) $ 11,769
Condensed Consolidating Balance Sheets	CUMULUS MEDIA INC. CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2016 (Dollars in thousands, except for share and per share data) 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 $ — $ 131,259 $ — $ — $ — $ 131,259 Restricted cash — 8,025 — — — 8,025 Accounts receivable, less allowance for doubtful accounts of $4,691 — — — 231,585 — 231,585 Trade receivable — — 4,985 — — 4,985 Assets held for sale — — 30,150 — — 30,150 Prepaid expenses and other current assets — 17,321 16,602 — — 33,923 Total current assets — 156,605 51,737 231,585 — 439,927 Property and equipment, net — 4,431 157,632 — — 162,063 Broadcast licenses — — — 1,540,183 — 1,540,183 Other intangible assets, net — — 116,499 — — 116,499 Goodwill — — 135,214 — — 135,214 Investment in consolidated subsidiaries (388,509 ) 3,348,992 1,012,947 — (3,973,430 ) — Intercompany receivables — 103,593 1,848,263 — (1,951,856 ) — Other assets — 21,631 135,996 364 (139,186 ) 18,805 Total assets $ (388,509 ) $ 3,635,252 $ 3,458,288 $ 1,772,132 $ (6,064,472 ) $ 2,412,691 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 19,994 $ 76,247 $ — $ — $ 96,241 Trade payable — — 4,550 — — 4,550 Total current liabilities — 19,994 80,797 — — 100,791 Term loan, net of debt issuance costs/discounts of $29,909 — 1,780,357 — — — 1,780,357 7.75% senior notes, net of debt issuance costs of $6,200 — 603,800 — — — 603,800 Other liabilities — 2,932 28,499 — — 31,431 Intercompany payables 103,229 1,616,678 — 231,949 (1,951,856 ) — Deferred income taxes — — — 527,236 (139,186 ) 388,050 Total liabilities 103,229 4,023,761 109,296 759,185 (2,091,042 ) 2,904,429 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 93,750,000 shares authorized; 32,031,054 shares issued and 29,225,765 shares outstanding 320 — — — — 320 Class C common stock, par value $0.01 per share; 80,609 shares authorized, issued and outstanding 1 — — — — 1 Treasury stock, at cost, 2,806,187 shares (229,310 ) — — — — (229,310 ) Additional paid-in-capital 1,624,815 275,107 4,191,057 1,991,009 (6,457,173 ) 1,624,815 Accumulated (deficit) equity (1,887,564 ) (663,616 ) (842,065 ) (978,062 ) 2,483,743 (1,887,564 ) Total stockholders’ (deficit) equity (491,738 ) (388,509 ) 3,348,992 1,012,947 (3,973,430 ) (491,738 ) Total liabilities and stockholders’ (deficit) equity $ (388,509 ) $ 3,635,252 $ 3,458,288 $ 1,772,132 $ (6,064,472 ) $ 2,412,691 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING BALANCE SHEETS As of December 31, 2015 (Dollars in thousands, except for share and per share data) 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 $ — $ 31,657 $ — $ — $ — $ 31,657 Restricted cash — 7,981 — — — 7,981 Accounts receivable, less allowance for doubtful accounts of $4,923 — — — 243,428 — 243,428 Trade receivable — — 4,146 — — 4,146 Asset held for sale — — 45,157 — — 45,157 Prepaid expenses and other current assets — 6,375 20,531 — — 26,906 Total current assets — 46,013 69,834 243,428 — 359,275 Property and equipment, net — 3,685 165,752 — — 169,437 Broadcast licenses — — — 1,578,066 — 1,578,066 Other intangible assets, net — — 174,530 — — 174,530 Goodwill — — 703,354 — — 703,354 Investment in consolidated subsidiaries 110,550 3,784,551 1,056,150 — (4,951,251 ) — Intercompany receivables — 95,072 1,650,829 — (1,745,901 ) — Other assets — 27,491 95,716 554 (106,035 ) 17,726 Total assets $ 110,550 $ 3,956,812 $ 3,916,165 $ 1,822,048 $ (6,803,187 ) $ 3,002,388 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable and accrued expenses $ — $ 31,997 $ 86,399 $ — $ — $ 118,396 Trade payable — — 4,374 — — 4,374 Total current liabilities — 31,997 90,773 — — 122,770 Term loan, net of debt issuance costs/discounts of $37,524 — 1,801,416 — — — 1,801,416 7.75% senior notes, net of debt issuance costs of $8,515 — 601,485 — — — 601,485 Other liabilities — 3,963 40,841 — — 44,804 Intercompany payables 94,518 1,407,401 — 243,982 (1,745,901 ) — Deferred income taxes — — — 521,916 (106,035 ) 415,881 Total liabilities 94,518 3,846,262 131,614 765,898 (1,851,936 ) 2,986,356 Stockholders’ equity (deficit): Class A common stock, par value $0.01 per share; 93,750,000 shares authorized; 31,987,862 shares issued and 29,182,118 shares outstanding 320 — — — — 320 Class C common stock, par value $0.01 per share; 80,609 shares authorized, issued and outstanding 1 — — — — 1 Treasury stock, at cost, 2,805,743 shares (229,310 ) — — — — (229,310 ) Additional paid-in-capital 1,621,865 268,673 4,219,060 2,032,686 (6,520,419 ) 1,621,865 Accumulated (deficit) equity (1,376,844 ) (158,123 ) (434,509 ) (976,536 ) 1,569,168 (1,376,844 ) Total stockholders’ equity (deficit) 16,032 110,550 3,784,551 1,056,150 (4,951,251 ) 16,032 Total liabilities and stockholders’ equity (deficit) $ 110,550 $ 3,956,812 $ 3,916,165 $ 1,822,048 $ (6,803,187 ) $ 3,002,388
Condensed Consolidating Statements of Cash Flows	CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 (Dollars in thousands) 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 $ (510,720 ) $ (505,493 ) $ (407,556 ) $ (1,526 ) $ 914,575 $ (510,720 ) Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation and amortization — 1,530 85,737 — — 87,267 Amortization of debt issuance costs/discounts — 9,771 — 190 — 9,961 Provision for doubtful accounts — — 1,103 — — 1,103 Gain on sale of assets or stations — — (95,695 ) — — (95,695 ) Impairment on intangible assets and goodwill — — 604,965 — — 604,965 Deferred income taxes (3,484 ) (65,292 ) 41,963 (1,018 ) — (27,831 ) Stock-based compensation expense — 2,948 — — — 2,948 Gain on early extinguishment of debt — (8,017 ) — — — (8,017 ) Earnings (loss) from consolidated subsidiaries 505,493 407,556 1,526 — (914,575 ) — Changes in assets and liabilities — 361,825 (392,415 ) 2,354 — (28,236 ) Net cash (used in) provided by operating activities (8,711 ) 204,828 (160,372 ) — — 35,745 Cash flows from investing activities: Proceeds from sale of assets or stations — — 106,935 — — 106,935 Restricted cash — (44 ) — — — (44 ) Capital expenditures — (2,276 ) (20,761 ) — — (23,037 ) Net cash (used in) provided by investing activities — (2,320 ) 86,174 — — 83,854 Cash flows from financing activities: Intercompany transactions, net 8,708 (82,906 ) 74,198 — — — Repayments of borrowings under revolving credit facilities — (20,000 ) — — — (20,000 ) Proceeds from exercise of warrants 3 — — — — 3 Net cash provided by (used in) financing activities 8,711 (102,906 ) 74,198 — — (19,997 ) Increase in cash and cash equivalents — 99,602 — — — 99,602 Cash and cash equivalents at beginning of period — 31,657 — — — 31,657 Cash and cash equivalents at end of period $ — $ 131,259 $ — $ — $ — $ 131,259 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 (Dollars in thousands) 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 $ (546,494 ) $ (541,253 ) $ (424,877 ) $ (1,349 ) $ 967,479 $ (546,494 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation and amortization — 1,525 100,580 — — 102,105 Amortization of debt issuance costs/discount — 9,351 — 190 — 9,541 Provision for doubtful accounts — — 4,501 — — 4,501 Gain on sale of assets or stations — — 2,856 — — 2,856 Impairment on intangible assets and goodwill — — 565,584 — — 565,584 Impairment charges - equity interest in Pulser Media Inc. — — 19,364 — — 19,364 Deferred income taxes (3,494 ) (77,584 ) 33,716 (900 ) — (48,262 ) Stock-based compensation expense — 21,033 — — — 21,033 Gain on early extinguishment of debt — (13,222 ) — — — (13,222 ) Earnings from consolidated subsidiaries 541,253 424,877 1,349 — (967,479 ) — Changes in assets and liabilities — 306,482 (343,115 ) 2,059 — (34,574 ) Net cash (used in) provided by operating activities (8,735 ) 131,209 (40,042 ) — — 82,432 Cash flows from investing activities: Proceeds from sale of assets or stations — — 9,201 — — 9,201 Restricted cash — 2,074 — — — 2,074 Capital expenditures — (2,557 ) (16,679 ) — — (19,236 ) Net cash used in investing activities — (483 ) (7,478 ) — — (7,961 ) Cash flows from financing activities: Intercompany transactions, net 8,727 (56,244 ) 47,517 — — — Repayments of borrowings under revolving credit facilities — (50,000 ) — — — (50,000 ) Tax withholding paid on behalf of employees — (93 ) — — — (93 ) Proceeds from exercise of warrants 8 — — — — 8 Net cash provided by (used in) financing activities 8,735 (106,337 ) 47,517 — — (50,085 ) Increase (decrease) in cash and cash equivalents — 24,389 (3 ) — — 24,386 Cash and cash equivalents at beginning of period — 7,268 3 — — 7,271 Cash and cash equivalents at end of period $ — $ 31,657 $ — $ — $ — $ 31,657 CUMULUS MEDIA INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2014 (Dollars in thousands) 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) $ 11,769 $ 17,379 $ 148,874 $ (1,414 ) $ (164,839 ) $ 11,769 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization — 1,619 113,656 — — 115,275 Amortization of debt issuance costs/discounts — 9,302 — 191 — 9,493 Provision for doubtful accounts — — 4,302 — — 4,302 Gain on sale of assets or stations — — (1,342 ) — — (1,342 ) Fair value adjustment of derivative instruments — 21 — — — 21 Deferred income taxes (3,739 ) (81,993 ) 93,576 (942 ) — 6,902 Stock-based compensation expense — 17,638 — — — 17,638 Earnings from consolidated subsidiaries (17,379 ) (148,874 ) 1,414 — 164,839 — Changes in assets and liabilities — 349,463 (368,911 ) (7,814 ) — (27,262 ) Net cash (used in) provided by operating activities (9,349 ) 164,555 (8,431 ) (9,979 ) — 136,796 Cash flows from investing activities: Restricted cash — (3,909 ) — — — (3,909 ) Capital expenditures — (1,000 ) (18,006 ) — — (19,006 ) Proceeds from exchange of assets or stations — — 15,843 — — 15,843 Acquisition less cash required — — (8,500 ) — — (8,500 ) Net cash used in investing activities — (4,909 ) (10,663 ) — — (15,572 ) Cash flows from financing activities: Intercompany transactions, net (3,188 ) (50,909 ) 19,097 35,000 — — Repayment of borrowings under term loans and revolving credit facilities — (121,125 ) — (35,000 ) — (156,125 ) Proceeds from borrowings under term loans and revolving credit facilities — — — 10,000 — 10,000 Tax withholding payments on behalf of employees — (1,332 ) — — — (1,332 ) Proceeds from exercise of warrants 113 — — — — 113 Proceeds from exercise of options 620 — — — — 620 Deferred financing costs — — — (21 ) (21 ) Net cash (used in) provided by financing activities (2,455 ) (173,366 ) 19,097 9,979 — (146,745 ) (Decrease) increase in cash and cash equivalents (11,804 ) (13,720 ) 3 — — (25,521 ) Cash and cash equivalents at beginning of period 11,804 20,988 — — — 32,792 Cash and cash equivalents at end of period $ — $ 7,268 $ 3 $ — $ — $ 7,271

Segment Data (Tables)

Segment Data (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company’s financial data by segment is presented in the tables below: Year Ended December 31, 2016 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 802,396 $ 336,610 $ 2,394 $ 1,141,400 Year Ended December 31, 2015 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 796,383 $ 368,968 $ 3,328 $ 1,168,679 Year Ended December 31, 2014 Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 838,567 $ 421,000 $ 3,856 $ 1,263,423 Year Ended 2016 2015 2014 Adjusted EBITDA by segment Radio Station Group $ 218,192 $ 241,673 $ 273,483 Westwood One 22,984 52,958 $ 86,231 Segment Adjusted EBITDA 241,176 294,631 359,714 Adjustments Corporate and other (35,309 ) (35,486 ) $ (30,188 ) Income tax benefit (expense) 26,154 45,840 (10,254 ) Non operating expense, including net interest expense (136,102 ) (127,041 ) (139,807 ) LMA fees (12,824 ) (10,129 ) (7,195 ) Depreciation and amortization (87,267 ) (102,105 ) (115,276 ) Stock-based compensation expense (2,948 ) (21,035 ) (17,638 ) Gain (loss) on sale of assets or stations 95,695 (2,856 ) 1,343 Impairment of intangible assets (604,965 ) (565,580 ) — Impairment charges - equity interest in Pulser Media — (19,364 ) — Acquisition-related and restructuring costs (1,817 ) (16,641 ) (28,326 ) Franchise and state taxes (530 ) 50 (604 ) Gain on early extinguishment of debt 8,017 13,222 — Consolidated net (loss) income $ (510,720 ) $ (546,494 ) $ 11,769

Description of Business, Basi38

Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Detail) $ in Thousands	Oct. 12, 2016	Aug. 30, 2016USD ($)	Dec. 31, 2016USD ($)station	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)station	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)segmentstation	Dec. 31, 2015USD ($)segmentstation	Dec. 31, 2014USD ($)station
Accounting Policies [Line Items]
Conversion ratio	0.125
Content costs												$ 427,780	$ 396,426	$ 433,596
Number of reportable segments | segment												2	1
Number of reporting units | segment												2	3
Proceeds from sale of assets or stations		$ 110,600										$ 106,935	$ 9,201	15,843
Gain on sale of assets or stations												95,695	(2,856)	1,342
Impairment charges related to decline in fair value of cost method investment												$ 0	19,364	0
Sales price of cost method investment														13,000
Advertising agency fees as a percentage of revenue												15.00%
Advertising expense												$ 4,900	3,900	1,900
Net revenue			$ 299,541	$ 286,136	$ 287,193	$ 268,530	$ 308,825	$ 289,441	$ 299,334	$ 271,079		1,141,400	1,168,679	1,263,423
Stock-based compensation expense												2,948	21,033	17,638
Trade revenue												37,691	39,237	34,876
Trade expenses												$ 36,158	$ 40,427	$ 36,753
Local Marketing Agreements
Accounting Policies [Line Items]
Number of radio stations owned or operated by Cumulus Media | station			5				6					5	6	6
Net revenue												$ 23,200	$ 24,500	$ 22,600
Other Income (Expense)
Accounting Policies [Line Items]
Gain recognized on sale of cost method investment														$ 3,200
Hurricane Katrina in 2005
Accounting Policies [Line Items]
Insurance proceeds received													14,600
Hurricane Katrina in 2005 | Other Income
Accounting Policies [Line Items]
Insurance proceeds received													12,400
Hurricane Katrina in 2005 | Corporate Expenses
Accounting Policies [Line Items]
Insurance proceeds received													2,200
Other Assets | Accounting Standards Update 2015-03
Accounting Policies [Line Items]
Debt issuance costs							$ 22,400						22,400
Long-term Debt | Accounting Standards Update 2015-03
Accounting Policies [Line Items]
Debt issuance costs							$ 22,400						$ 22,400
Prior Period Adjustment
Accounting Policies [Line Items]
Content costs					$ 3,600
Land and Building
Accounting Policies [Line Items]
Gain on sale of assets or stations											$ 94,000

Restricted Cash (Narrative) (De

Restricted Cash (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 8,025	$ 7,981
Restricted cash balance relates to company's bank accounts	1,500	600
Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 6,500	$ 7,400

Property and Equipment (Compone

Property and Equipment (Components of Property and Equipment) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 443,363	$ 421,031
Less: accumulated depreciation	(281,300)	(251,594)
Property and equipment, net	162,063	169,437
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	63,484	63,627
Broadcasting and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 234,760	229,989
Broadcasting and other equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Broadcasting and other equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	30 years
Computer and capitalized software costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 29,591	28,959
Computer and capitalized software costs | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	1 year
Computer and capitalized software costs | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,899	14,183
Property and equipment, estimated useful life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 40,242	36,242
Property and equipment, estimated useful life	5 years
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 46,351	45,988
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	9 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	20 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,036	$ 2,043

Property and Equipment (Narrati

Property and Equipment (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 31.1	$ 33	$ 35.3

Intangible Assets and Goodwil42

Intangible Assets and Goodwill (Changes in Goodwill) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 1,582,806	$ 1,582,806
Accumulated impairment losses	(1,447,592)	(879,452)
Total	135,214	703,354
Radio Station Group
Goodwill [Line Items]
Goodwill	1,278,526	1,278,526
Accumulated impairment losses	(1,278,526)	(710,386)
Total	0	568,140
Westwood One
Goodwill [Line Items]
Goodwill	304,280	304,280
Accumulated impairment losses	(169,066)	(169,066)
Total	$ 135,214	$ 135,214

Intangible Assets and Goodwil43

Intangible Assets and Goodwill (Changes in Intangible Assets Other Than Goodwill) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Indefinite-Lived Intangible Assets
Indefinite-Lived Intangible Assets, Beginning Balance	$ 1,578,066	$ 1,596,715
Impairment	(35,000)	(15,873)
Disposition	(2,883)	(2,776)
Amortization	0	0
Indefinite-Lived Intangible Assets, Ending Balance	1,540,183	1,578,066
Definite-Lived Intangible Assets
Definite-Lived Intangible Assets, Beginning Balance	174,530	243,640
Impairment	(1,816)	0
Disposition	0	0
Amortization	(56,215)	(69,110)
Definite-Lived Intangible Assets, Ending Balance	116,499	174,530
Intangible Assets, Net
Intangible Assets Total, Beginning Balance	1,752,596	1,840,355
Impairment	(36,816)	(15,873)
Disposition	(2,883)	(2,776)
Amortization	(56,215)	(69,110)
Intangible Assets Total, Ending Balance	$ 1,656,682	$ 1,752,596

Intangible Assets and Goodwil44

Intangible Assets and Goodwill (Estimated Future Amortization Expense) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 33,505
2,018	18,201
2,019	17,257
2,020	17,197
2,021	17,114
Thereafter	13,225
Total other intangibles, net	$ 116,499	$ 174,530	$ 243,640

Intangible Assets and Goodwil45

Intangible Assets and Goodwill (Narrative) (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)
Intangible Assets And Goodwill [Line Items]
Amortization of finite and indefinite intangible assets		$ 56,200	$ 69,100	$ 80,000
Amortization expense		$ 56,215	$ 69,110
Number of reporting units | segment		2	3
Market revenue growth rate percentage for the residual year		1.10%
Weighted average cost of capital		9.30%
Goodwill		$ 135,214	$ 703,354
Period for calculating depreciation expense using accelerated double declining balance guidelines		5 years
Westwood One
Intangible Assets And Goodwill [Line Items]
Amortization expense	$ 1,800
Goodwill		$ 135,214	135,214
Reporting Unit 1
Intangible Assets And Goodwill [Line Items]
Goodwill		568,141
Goodwill Test 2
Intangible Assets And Goodwill [Line Items]
Noncash impairment charge		568,100	549,700
Goodwill Test 2 | Reporting Unit 1
Intangible Assets And Goodwill [Line Items]
Goodwill		0
FCC Licenses
Intangible Assets And Goodwill [Line Items]
Noncash impairment charge		$ 35,000	$ 15,900

Intangible Assets and Goodwil46

Intangible Assets and Goodwill (Schedule of Goodwill) (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 135,214,000	$ 703,354,000
Reporting Unit 1
Goodwill [Line Items]
Goodwill	568,141,000
Carrying value (including goodwill)	$ 2,040,207,000
Percentage fair value above carrying value	0.00%
Reporting Unit 2
Goodwill [Line Items]
Goodwill	$ 135,213,000
Carrying value (including goodwill)	$ 194,282,000
Percentage fair value above carrying value	63.80%
Reporting Unit 3
Goodwill [Line Items]
Goodwill	$ 0
Carrying value (including goodwill)	$ 0
Percentage fair value above carrying value	0.00%

Accounts Payable and Accrued 47

Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued employee costs	$ 30,887	$ 22,169
Accrued third party content costs	29,285	36,166
Accounts payable	12,739	11,492
Accrued other	14,494	23,998
Accrued interest	8,334	8,106
Accrued retention and severance costs	502	10,465
Advance deposit received	0	6,000
Total accounts payable and accrued expenses	$ 96,241	$ 118,396

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total 7.75% Senior Notes	$ 603,800	$ 601,485
Less: Current portion of long-term debt	0	0
Long-term debt, net	2,384,157	2,402,901
7.75% Senior Notes
Debt Instrument [Line Items]
7.75% Senior Notes	610,000	610,000
Less: unamortized debt issuance costs	(6,200)	(8,515)
Total 7.75% Senior Notes	603,800	601,485
Term Loan | Term Loan
Debt Instrument [Line Items]
Term Loan	1,810,266	1,838,940
Less: unamortized term loan discount and debt issuance costs	(29,909)	(37,524)
Total term loan	$ 1,780,357	$ 1,801,416

Long-Term Debt (Future Maturiti

Long-Term Debt (Future Maturities of Long-Term Debt) (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Debt Disclosure [Abstract]
2,017	$ 0
2,018	0
2,019	610,000
2,020	1,810,266
2,021	0
Thereafter	0
Long-term Debt, Total	$ 2,420,266

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Detail)	Dec. 23, 2013USD ($)	Dec. 06, 2013USD ($)	May 13, 2011USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2016USD ($)
Line of Credit Facility [Line Items]
Gain on early extinguishment of debt				$ 8,017,000	$ 13,222,000	$ 0
Senior Notes issued			$ 610,000,000
Amount repaid under outstanding term loan facility			$ 575,800,000
Percentage of Senior Notes to be redeemed prior to May 1, 2015			100.00%
Amortization of debt discount and debt issuance costs				$ 10,000,000	9,500,000
Term loan | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Amount available under credit facility	$ 2,025,000,000
Days prior to maturity. springing maturity	91 days
Interest rate	2.00%			4.25%
Basis spread on LIBOR/base rate	1.00%
Amortization rate per annum	1.00%
Percentage of future first-tier foreign subsidiaries collateralized	66.00%
Face value				$ 28,700,000
Amount of discounted prepayment				$ 20,000,000
Discount to par value (percentage)				30.00%
Gain on early extinguishment of debt				$ 8,500,000
Amount outstanding				1,810,000,000
Securitization facility | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Amount available under credit facility	$ 200,000,000
Amount outstanding				$ 0
Letter of Credit | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Amount available under credit facility	$ 30,000,000
Accounts Receivable Securitization Facility | Securitization Facility
Line of Credit Facility [Line Items]
Amount available under credit facility		$ 50,000,000
Amount outstanding					$ 0		$ 0
Term of accounts receivable securitization		5 years
7.75% Senior Notes
Line of Credit Facility [Line Items]
Interest rate			7.75%	7.75%	7.75%
London Interbank Offered Rate (LIBOR) | Term loan | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Interest rate	1.00%
Basis spread on LIBOR/base rate	3.25%
London Interbank Offered Rate (LIBOR) | Accounts Receivable Securitization Facility | Securitization Facility
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate		2.50%
Base Rate | Term loan | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on LIBOR/base rate	2.25%
Federal Funds Rate | Term loan | 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 | Term loan | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Consolidated net leverage ratio				5	5.5
Minimum | Term loan | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Consolidated net leverage ratio	4

Fair Value Measurements (Compon

Fair Value Measurements (Components of Change in Fair Value) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Less: Impairment charge	$ 0	$ (19,364)	$ 0
Pulser Media
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance at January 1, 2015		0	17,339
Add: Additions to equity interest in Pulser		2,025
Less: Impairment charge		(19,364)
Fair value balance at December 31, 2015		$ 0	$ 17,339

Fair Value Measurements (Gross

Fair Value Measurements (Gross Amounts and Fair Value of Debt) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Term Loan
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Carrying value	$ 1,810,266	$ 1,838,940
Term Loan | Significant Other Observable Inputs (Level 2)
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Fair value — Level 2	1,226,455	1,360,816
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	$ 249,673	$ 204,350

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	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	67.75%	74.00%
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	40.93%	33.50%
7.75% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	7.75%	7.75%	7.75%
Goodwill Test 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncash impairment charge	$ 568.1	$ 549.7
FCC Licenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncash impairment charge	$ 35	$ 15.9

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	Jun. 30, 2014USD ($)shares	Jun. 30, 2009$ / sharesshares	Dec. 31, 2016voteclass$ / sharesshares	Dec. 31, 2014shares	Dec. 31, 2015shares	Sep. 16, 2011$ / sharesshares
Class of Stock [Line Items]
Total stock dividend authorized to issue (in shares)			268,830,609
Number of classes of stock | class			4
Preferred stock, shares authorized			100,000,000
Preferred stock, par/stated value (USD per share) | $ / shares						$ 0.01
Shares in treasury stock | $	$ 25
Warrants exercised (in shares)			43,192
2009 warrants
Class of Stock [Line Items]
Warrants issued (in shares)		156,250
Exercisable price of warrants to purchase common stock (price per share) | $ / shares		$ 1.17
Number of warrants outstanding			40,057
Company Warrants
Class of Stock [Line Items]
Number of warrants outstanding			31,955
Equity Investment
Class of Stock [Line Items]
Number of warrants outstanding			1,000,000			1,000,000
Crestview Warrants
Class of Stock [Line Items]
Exercisable price of warrants to purchase common stock (price per share) | $ / shares						$ 34.56
Citadel Acquisition
Class of Stock [Line Items]
Warrants held in reserve for issuance (in shares)	300,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized			93,750,000		93,750,000
Common stock, shares issued			32,031,054		31,987,862
Number of votes for each share | vote			1
Class A Common Stock | Citadel Acquisition
Class of Stock [Line Items]
Common stock, shares issued						9,000,000
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			75,000,000
Shares converted into shares of Class A common stock				1,900,000
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares authorized			80,609		80,609
Common stock, shares issued			80,609		80,609
Number of votes for each share | vote			10
Series A Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock, par/stated value (USD per share) | $ / shares			$ 0.01

Stock-Based Compensation Expe55

Stock-Based Compensation Expense (Narrative) (Detail)	May 14, 2015USD ($)shares	May 22, 2014USD ($)shares	Jul. 08, 2011USD ($)shares	Dec. 31, 2016USD ($)Installment$ / sharesshares	Dec. 31, 2015USD ($)Installment$ / sharesshares	Dec. 31, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Maximum contractual term				10 years
Stock-based compensation expense | $				$ 2,948,000	$ 21,033,000	$ 17,638,000
Tax benefits related to non-cash stock-based compensation awards | $				200,000	$ 8,400,000	$ 7,100,000
Unrecognized compensation expense | $				$ 2,800,000
Weighted average remaining life for recognition of unrecognized compensation expense				1 year 4 months 25 days
Non Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value | $	$ 600,000	$ 600,000
President and Chief Executive Officer | Corporate Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation costs | $				$ 8,700,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				3,472,455	3,216,193
Options outstanding exercise price (USD per share) | $ / shares				$ 31.46	$ 34.88
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				0	0
Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total awards of shares under equity incentive plan (in shares)			4,375,000
Options outstanding (in shares)				3,421,986
Options outstanding, unvested (in shares)				852,097
Options outstanding, vested (in shares)				2,569,889
Equity Incentive Plan 2011 | First and second anniversaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				30.00%	30.00%
Equity Incentive Plan 2011 | Third and fourth anniversaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				20.00%	20.00%
Equity Incentive Plan 2011 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding exercise price (USD per share) | $ / shares				$ 1.34
Equity Incentive Plan 2011 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding exercise price (USD per share) | $ / shares				$ 51.68
Equity Incentive Plan 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				50,469
Options outstanding exercise price range, lower limit (USD per share) | $ / shares				$ 20.32
Options outstanding exercise price range, upper limit (USD per share) | $ / shares				$ 26.40
Restricted Class Common Stock | Non Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year	1 year
Shares of restricted Class A common stock (in shares)	30,365	11,664
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted Class A common stock (in shares)				0
Grant date fair value | $				$ 600,000	$ 2,200,000
Shares of restricted Class A common stock (in shares)				400,000	600,000
Exercise price (USD per share) | $ / shares				$ 0
Total fair value of restricted stock awards vested | $				$ 0	$ 600,000
Restricted Stock | Officers and Members of the Board
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual award vesting installments | Installment				4	4
Aggregate voting power				50.00%
Restricted Stock | First and second anniversaries | Officers and Members of the Board
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual award vesting installments | Installment				2	2
Restricted Stock | Third and fourth anniversaries | Officers and Members of the Board
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual award vesting installments | Installment				2	2
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (USD per share) | $ / shares				$ 1.34	$ 3.84
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (USD per share) | $ / shares				$ 24	$ 34.72
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock that remain authorized, reserved and available for issuance, not including shares underlying outstanding grants				30,000
Incentive Stock Options | Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Class A common stock issued or transferred upon exercise of incentive stock options (in shares)			2,187,500
Restricted stock, Restricted Stock Units, Performance Shares, Performance Units and Other Awards | Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Class A common stock issued as restricted stock, RSUs, performance shares, performance units and other awards (in shares)			1,500,000
Stock Appreciation Rights and Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest vesting period after grant date except in the event of retirement death or disability				3 years
Earliest vesting period after grant date if management objectives are achieved				1 year
Stock Appreciation Rights and Stock Options | Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of stock options or SAR's available for grant to a participant (in shares)			1,437,500
Performance Based Compensation | Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of stock options or SAR's available for grant to a participant (in shares)			375,000
Grant date fair value of stock options or SAR's available for grant to a participant (in shares) | $			$ 5,000,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest vesting period after grant date except in the event of retirement death or disability				3 years
Earliest vesting period after grant date if management objectives are achieved				1 year

Stock-Based Compensation Expe56

Stock-Based Compensation Expense (Summary of Equity Award Activity) (Detail) - Class A Common Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Options
Outstanding at January 1, 2016 (in shares)	3,216,193
Granted (in shares)	389,938
Exercised (in shares)	0	0
Forfeited/Canceled (in shares)	(41,523)
Expired (in shares)	(92,153)
Outstanding at December 31, 2016 (in shares)	3,472,455	3,216,193
Vested or expected to vest at December 31, 2016 (in shares)	3,472,455
Exercisable at December 31, 2016 (in shares)	2,620,358
Weighted- Average Exercise Price
Outstanding at January 1, 2016 (USD per share)	$ 34.88
Granted (USD per share)	5.96
Exercised (USD per share)	0
Forfeited/Canceled (USD per share)	42.85
Expired (USD per share)	37.61
Outstanding at December 31, 2016 (USD per share)	31.46	$ 34.88
Vested or expected to vest at December 31, 2016 (USD per share)	31.46
Exercisable at December 31, 2016 (USD per share)	$ 36.94
Weighted average remaining contractual term
Outstanding at December 31, 2016	6 years 4 months 10 days
Vested or expected to vest at December 31, 2016	6 years 4 months 10 days
Exercisable at December 31, 2016	5 years 6 months 18 days
Aggregate intrinsic value
Outstanding at December 31, 2016	$ 392
Vested or expected to vest at December 31, 2016	18,081
Exercisable at December 31, 2016	$ 668

Stock-Based Compensation Expe57

Stock-Based Compensation Expense (Summary of Company's Restricted Common Stock Awards Activity) (Detail)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Number of Restricted Stock Awards (in thousands)
Vested (in shares) | shares	(30,365)
Weighted- Average Grant Date Fair Value (in thousands)
Vested (USD per share) | $ / shares	$ 19.76
Restricted Stock
Number of Restricted Stock Awards (in thousands)
Outstanding at January 1, 2016 (in shares) | shares	30,365
Granted (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding awards at December 31, 2016 (in shares) | shares	0
Weighted- Average Grant Date Fair Value (in thousands)
Outstanding at January 1, 2016 (USD per share) | $ / shares	$ 19.76
Granted (USD per share) | $ / shares	0
Forfeited (USD per share) | $ / shares	0
Outstanding awards at December 31, 2016 (USD per share) | $ / shares	$ 0

Income Taxes (Income Tax Expens

Income Taxes (Income Tax Expense (Benefit)) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current income tax expense
State and local	$ 1,678	$ 2,422	$ 3,352
Total current income tax expense	1,678	2,422	3,352
Deferred tax (benefit) expense
Federal	(19,496)	(48,123)	7,172
State and local	(8,336)	(139)	(270)
Total deferred tax (benefit) expense	(27,832)	(48,262)	6,902
Net income tax (benefit) expense	$ (26,154)	$ (45,840)	$ 10,254

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Federal statutory income tax rate	35.00%	35.00%	35.00%
Increase (decrease) in valuation allowance		$ (1,800,000)
Amount of valuation allowance	$ 17,200,000	17,200,000
State and local	(8,336,000)	(139,000)	$ (270,000)
Net operating loss carry forwards	1,500,000
Interest and penalties related to unrecognized tax benefits	2,900,000
Unrecognized tax benefits accrued interest and penalties	2,100,000
Decrease in accrued interest and penalty	2,900,000
Additional accruals for interest and penalty	400,000
Settlements with taxing authorities	3,300,000
Total unrecognized tax benefits and accrued interest and penalties	14,000,000
Unrecognized tax benefits if recognized will would affect tax rate	12,400,000
Unrecognized tax benefits which are not expected to change significantly within the next 12 months	13,300,000
Change in Estimate of Recoverability of State Net Operating Losses
Income Taxes [Line Items]
Increase (decrease) in valuation allowance	800,000
Write off State Net Operating Losses Expected to Expire
Income Taxes [Line Items]
Increase (decrease) in valuation allowance	(600,000)
State and local	600,000
State and Local Jurisdiction
Income Taxes [Line Items]
Increase (decrease) in valuation allowance	0	300,000
Net operating loss carry forwards	1,200,000,000
State and Local Jurisdiction | Favorable State Tax Rate Changes
Income Taxes [Line Items]
Increase (decrease) in valuation allowance	(200,000)
State and Local Jurisdiction | Change in Estimate of Recoverability of State Net Operating Losses
Income Taxes [Line Items]
Increase (decrease) in valuation allowance		200,000
State and Local Jurisdiction | Write off State Net Operating Losses Expected to Expire
Income Taxes [Line Items]
Increase (decrease) in valuation allowance		$ (2,300,000)
Internal Revenue Service (IRS)
Income Taxes [Line Items]
Net operating loss carry forwards	$ 271,400,000

Income Taxes (Total Income Tax

Income Taxes (Total Income Tax Expense (Benefit)) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Pretax (loss) income at federal statutory rate	$ (187,906)	$ (207,317)	$ 7,707
State income tax (benefit) expense, net federal (benefit) expense	(1,812)	(1,385)	992
Meals and entertainment	429	380	424
Change in state tax rates	(1,618)	1,605	(1,580)
Section 162 disallowance	538	110	562
Impairment charges on goodwill with no tax basis	163,630	153,371	0
Increase in valuation allowance	32	190	2,189
Other	553	7,206	(40)
Net income tax (benefit) expense	$ (26,154)	$ (45,840)	$ 10,254

Income Taxes (Tax Effects of Te

Income Taxes (Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets and Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Noncurrent deferred tax assets:
Accounts receivable	$ 1,422	$ 1,849
Advertising relationships	2,548	3,686
Other liabilities	27,014	28,140
AMT tax credit	2,042	2,042
Net operating loss	111,778	155,475
Noncurrent deferred tax assets	144,804	191,192
Less: valuation allowance	(17,205)	(17,173)
Net noncurrent deferred tax assets	127,599	174,019
Noncurrent deferred tax liabilities:
Intangible assets	482,620	527,775
Property and equipment	20,485	30,260
Cancellation of debt income	12,544	31,865
Noncurrent deferred tax liabilities	515,649	589,900
Net noncurrent deferred tax liabilities	388,050	415,881
Net deferred tax liabilities	$ 388,050	$ 415,881

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 12,629	$ 14,466
Settlements		(1,180)
Lapse of statute of limitations	(1,014)	(657)
Increase for prior year positions	275
Balance at end of period	$ 11,890	$ 12,629

(Loss) Earnings Per Share (_E63

(Loss) Earnings Per Share (“EPS”) (Computation of Basic and Diluted Earnings per Common Share) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,455	29,176,930	28,267,807
Basic (loss) income from continuing operations per share — attributable to common shares (USD per share)	$ (18.57)	$ 1.58	$ 0.04	$ (0.49)	$ (0.16)	$ (18.56)	$ 0.40	$ (0.40)
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,455	29,176,930	28,267,807
Diluted weighted average shares outstanding (in shares)									29,270,455	29,176,930	28,620,395
Diluted (loss) income from continuing operations per share — attributable to common shares (USD per share)	$ (18.57)	$ 1.58	$ 0.04	$ (0.49)	$ (0.16)	$ (18.56)	$ 0.40	$ (0.40)
Potentially dilutive equivalent shares outstanding excluded from the computation of diluted (loss) income per share									0
Basic Share
Basic (Loss) Earnings Per Share
Undistributed net (loss) income continuing operations									$ (510,720)	$ (546,494)	$ 11,769
Less:
Basic undistributed net (loss) income from continuing operations — attributable to common shares									$ (510,720)	$ (546,494)	$ 11,399
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,000	29,177,000	28,268,000
Basic (loss) income from continuing operations per share — attributable to common shares (USD per share)									$ (17.45)	$ (18.72)	$ 0.40
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,000	29,177,000	28,268,000
Basic Share | Warrant
Less:
Participation rights of the Company Warrants in undistributed earnings									$ 0	$ 0	$ 358
Basic Share | Restricted Stock
Less:
Participation rights of unvested restricted stock in undistributed earnings									0	0	12
Diluted Share
Basic (Loss) Earnings Per Share
Undistributed net (loss) income continuing operations									(510,720)	(546,494)	11,769
Less:
Basic undistributed net (loss) income from continuing operations — attributable to common shares									$ (510,720)	$ (546,494)	$ 11,403
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,000	29,177,000	28,268,000
Denominator:
Basic weighted average common shares outstanding (in shares)									29,270,000	29,177,000	28,268,000
Effect of dilutive options and warrants (in shares)									0	0	352,000
Diluted weighted average shares outstanding (in shares)									29,270,000	29,177,000	28,620,000
Diluted (loss) income from continuing operations per share — attributable to common shares (USD per share)									$ (17.45)	$ (18.72)	$ 0.40
Diluted Share | Warrant
Less:
Participation rights of the Company Warrants in undistributed earnings									$ 0	$ 0	$ 354
Diluted Share | Restricted Stock
Less:
Participation rights of unvested restricted stock in undistributed earnings									$ 0	$ 0	$ 12

Leases (Narrative) (Detail)

Leases (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leased Assets [Line Items]
Rental expense for operating leases	$ 25.2	$ 27.9	$ 27.4
Minimum
Operating Leased Assets [Line Items]
Operating leases renewal option period	1 year
Maximum
Operating Leased Assets [Line Items]
Operating leases renewal option period	10 years

Leases (Future Minimum Lease Pa

Leases (Future Minimum Lease Payments under Non-Cancelable Operating Leases) (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Leases [Abstract]
Future Minimum Rent, 2017	$ 23,503
Future Minimum Sublease Income, 2017	(1,028)
Future Commitments Under Sales Leaseback Agreement, 2017	1,114
Net Commitment, 2017	23,589
Future Minimum Rent, 2018	20,540
Future Minimum Sublease Income, 2018	(1,028)
Future Commitments Under Sales Leaseback Agreement, 2018	1,153
Net Commitment, 2018	20,665
Future Minimum Rent, 2019	17,695
Future Minimum Sublease Income, 2019	(1,028)
Future Commitments Under Sales Leaseback Agreement, 2019	1,193
Net Commitment, 2019	17,860
Future Minimum Rent, 2020	13,723
Future Minimum Sublease Income, 2020	(1,028)
Future Commitments Under Sales Leaseback Agreement, 2020	0
Net Commitment, 2020	12,695
Future Minimum Rent, 2021	10,880
Future Minimum Sublease Income, 2021	(1,028)
Future Commitments Under Sales Leaseback Agreement, 2021	0
Net Commitment, 2021	9,852
Future Minimum Rent, Thereafter	32,481
Future Minimum Sublease Income, Thereafter	(2,314)
Future Commitments Under Sales Leaseback Agreement, Thereafter	0
Net Commitment, Thereafter	30,167
Future Minimum Rent Under Operating Leases	118,822
Future Minimum Sublease Income	(7,454)
Future Minimum Commitments Under Sale Leaseback Agreement	3,460
Net Commitments	$ 114,828

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Millions	Jan. 02, 2014USD ($)station	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Exit Plan | Contract Termination | Corporate Expenses
Supply Commitment [Line Items]
Restructuring costs			$ 5.2
Accounts Payable and Accrued Expenses | Exit Plan | Contract Termination
Supply Commitment [Line Items]
Current restructuring costs		$ 0.5
Other Liabilities | Exit Plan | Contract Termination
Supply Commitment [Line Items]
Noncurrent restructuring liabilities		3.4
Merlin Media LLC
Supply Commitment [Line Items]
Monthly management fee, first year	$ 0.3
Monthly management fee, second year	0.4
Monthly management fee, third year	0.5
Monthly management fee, fourth year	0.6
Merlin Media LLC | Call Option | Maximum
Supply Commitment [Line Items]
Amount under option agreement to settle management fees	70
Merlin Media LLC | Call Option | Minimum
Supply Commitment [Line Items]
Amount under option agreement to settle management fees	$ 50
Merlin Media LLC | Put Option
Supply Commitment [Line Items]
Number of radio stations | station	2
Amount under option agreement to settle management fees	$ 71
Period after commencement date to settle management fees	4 years
Period to exercise option	10 days
CBS
Supply Commitment [Line Items]
Payments for legal settlements		13.3
Nielsen Audio
Supply Commitment [Line Items]
Aggregate obligations outstanding		$ 46.2

Quarterly Results (Unaudited)67

Quarterly Results (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Net revenue	$ 299,541	$ 286,136	$ 287,193	$ 268,530	$ 308,825	$ 289,441	$ 299,334	$ 271,079	$ 1,141,400	$ 1,168,679	$ 1,263,423
Operating income (loss)	(568,585)	113,017	36,665	10,114	28,821	(567,214)	48,003	11,875	(408,789)	(478,515)	161,830
(Loss) income before income taxes	(594,736)	79,109	2,315	(23,562)	8,081	(603,034)	24,991	(22,372)	(536,874)	(592,334)	22,023
Net (loss) income	$ (543,677)	$ 46,321	$ 1,066	$ (14,429)	$ (4,599)	$ (542,179)	$ 12,299	$ (12,015)	$ (510,720)	$ (546,494)	$ 11,769
Basic:
(Loss) income per share (in USD per share)	$ (18.57)	$ 1.58	$ 0.04	$ (0.49)	$ (0.16)	$ (18.56)	$ 0.40	$ (0.40)
Diluted:
(Loss) income per share (in USD per share)	$ (18.57)	$ 1.58	$ 0.04	$ (0.49)	$ (0.16)	$ (18.56)	$ 0.40	$ (0.40)

Supplemental Condensed Consol68

Supplemental Condensed Consolidating Financial Information (Narrative) (Details)	Dec. 31, 2016	Dec. 31, 2015	May 13, 2011
Condensed Financial Statements, Captions [Line Items]
Percentage ownership in subsidiaries	100.00%
7.75% Senior Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	7.75%	7.75%	7.75%

Supplemental Condensed Consol69

Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statements of Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net revenue	$ 299,541	$ 286,136	$ 287,193	$ 268,530	$ 308,825	$ 289,441	$ 299,334	$ 271,079	$ 1,141,400	$ 1,168,679	$ 1,263,423
Operating expenses:
Content costs									427,780	396,426	433,596
Selling, general & administrative expenses									472,900	477,327	470,441
Depreciation and amortization									87,267	102,105	115,275
LMA fees									12,824	10,129	7,195
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									40,148	73,403	76,428
(Gain) loss on sale of assets or stations									(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill									604,965	565,584	0
Impairment charges - equity interest in Pulser Media Inc.									0	19,364	0
Total operating expenses									1,550,189	1,647,194	1,101,593
Operating (loss) income	(568,585)	113,017	36,665	10,114	28,821	(567,214)	48,003	11,875	(408,789)	(478,515)	161,830
Non-operating expense:
Interest (expense) income, net									(138,141)	(141,246)	(144,145)
Gain on early extinguishment of debt									8,017	13,222	0
Other income (expense), net									2,039	14,205	4,338
Total non-operating expense, net									(128,085)	(113,819)	(139,807)
(Loss) income before income taxes	(594,736)	79,109	2,315	(23,562)	8,081	(603,034)	24,991	(22,372)	(536,874)	(592,334)	22,023
Income tax benefit (expense)									26,154	45,840	(10,254)
Income (loss) from continuing operations										(546,494)	11,769
(Loss) earnings from consolidated subsidiaries									0	0	0
Net (loss) income	$ (543,677)	$ 46,321	$ 1,066	$ (14,429)	$ (4,599)	$ (542,179)	$ 12,299	$ (12,015)	(510,720)	(546,494)	11,769
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net revenue									0	0	0
Operating expenses:
Content costs									0	0	0
Selling, general & administrative expenses									0	0	0
Depreciation and amortization									0	0	0
LMA fees									0	0	0
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									0	0	0
(Gain) loss on sale of assets or stations									0	0	0
Impairment of intangible assets and goodwill									0	0
Impairment charges - equity interest in Pulser Media Inc.										0
Total operating expenses									0	0	0
Operating (loss) income									0	0	0
Non-operating expense:
Interest (expense) income, net									0	0	0
Gain on early extinguishment of debt									0	0
Other income (expense), net									0	0	0
Total non-operating expense, net									0	0	0
(Loss) income before income taxes									0	0	0
Income tax benefit (expense)									0	0	0
Income (loss) from continuing operations										0	0
(Loss) earnings from consolidated subsidiaries									914,575	967,479	(164,839)
Net (loss) income									914,575	967,479	(164,839)
Cumulus Media Inc. (Parent Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net revenue									0	0	0
Operating expenses:
Content costs									0	0	0
Selling, general & administrative expenses									0	0	0
Depreciation and amortization									0	0	0
LMA fees									0	0	0
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									0	0	0
(Gain) loss on sale of assets or stations									0	0	0
Impairment of intangible assets and goodwill									0	0
Impairment charges - equity interest in Pulser Media Inc.										0
Total operating expenses									0	0	0
Operating (loss) income									0	0	0
Non-operating expense:
Interest (expense) income, net									(8,711)	(8,735)	(9,349)
Gain on early extinguishment of debt									0	0
Other income (expense), net									0	0	0
Total non-operating expense, net									(8,711)	(8,735)	(9,349)
(Loss) income before income taxes									(8,711)	(8,735)	(9,349)
Income tax benefit (expense)									3,484	3,494	3,739
Income (loss) from continuing operations										(5,241)	(5,610)
(Loss) earnings from consolidated subsidiaries									(505,493)	(541,253)	17,379
Net (loss) income									(510,720)	(546,494)	11,769
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Condensed Financial Statements, Captions [Line Items]
Net revenue									165	500	479
Operating expenses:
Content costs									0	0	0
Selling, general & administrative expenses									0	0	0
Depreciation and amortization									1,530	1,525	1,619
LMA fees									0	0	0
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									40,148	73,403	76,428
(Gain) loss on sale of assets or stations									0	0	0
Impairment of intangible assets and goodwill									0	0
Impairment charges - equity interest in Pulser Media Inc.										0
Total operating expenses									41,678	74,928	78,047
Operating (loss) income									(41,513)	(74,428)	(77,568)
Non-operating expense:
Interest (expense) income, net									(129,733)	(132,754)	(135,920)
Gain on early extinguishment of debt									8,017	13,222
Other income (expense), net									0	0	0
Total non-operating expense, net									(121,716)	(119,532)	(135,920)
(Loss) income before income taxes									(163,229)	(193,960)	(213,488)
Income tax benefit (expense)									65,292	77,584	81,993
Income (loss) from continuing operations										(116,376)	(131,495)
(Loss) earnings from consolidated subsidiaries									(407,556)	(424,877)	148,874
Net (loss) income									(505,493)	(541,253)	17,379
Subsidiary Guarantors
Condensed Financial Statements, Captions [Line Items]
Net revenue									1,141,235	1,168,179	1,262,944
Operating expenses:
Content costs									427,780	396,426	433,596
Selling, general & administrative expenses									470,546	475,268	468,349
Depreciation and amortization									85,737	100,580	113,656
LMA fees									12,824	10,129	7,195
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									0	0	0
(Gain) loss on sale of assets or stations									(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill									604,965	565,584
Impairment charges - equity interest in Pulser Media Inc.										19,364
Total operating expenses									1,506,157	1,570,207	1,021,454
Operating (loss) income									(364,922)	(402,028)	241,490
Non-operating expense:
Interest (expense) income, net									493	433	1,388
Gain on early extinguishment of debt									0	0
Other income (expense), net									2,039	14,205	4,338
Total non-operating expense, net									2,532	14,638	5,726
(Loss) income before income taxes									(362,390)	(387,390)	247,216
Income tax benefit (expense)									(43,640)	(36,138)	(96,928)
Income (loss) from continuing operations										(423,528)	150,288
(Loss) earnings from consolidated subsidiaries									(1,526)	(1,349)	(1,414)
Net (loss) income									(407,556)	(424,877)	148,874
Subsidiary Non-guarantors
Condensed Financial Statements, Captions [Line Items]
Net revenue									0	0	0
Operating expenses:
Content costs									0	0	0
Selling, general & administrative expenses									2,354	2,059	2,092
Depreciation and amortization									0	0	0
LMA fees									0	0	0
Corporate expenses (including stock-based compensation expense of $2,948, $21,033, and $17,638, respectively)									0	0	0
(Gain) loss on sale of assets or stations									0	0	0
Impairment of intangible assets and goodwill									0	0
Impairment charges - equity interest in Pulser Media Inc.										0
Total operating expenses									2,354	2,059	2,092
Operating (loss) income									(2,354)	(2,059)	(2,092)
Non-operating expense:
Interest (expense) income, net									(190)	(190)	(264)
Gain on early extinguishment of debt									0	0
Other income (expense), net									0	0	0
Total non-operating expense, net									(190)	(190)	(264)
(Loss) income before income taxes									(2,544)	(2,249)	(2,356)
Income tax benefit (expense)									1,018	900	942
Income (loss) from continuing operations										(1,349)	(1,414)
(Loss) earnings from consolidated subsidiaries									0	0
Net (loss) income									$ (1,526)	$ (1,349)	$ (1,414)

Supplemental Condensed Consol70

Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Additional Information) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Stock-based compensation expense	$ 2,948	$ 21,033	$ 17,638

Supplemental Condensed Consol71

Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheets) (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 131,259	$ 31,657	$ 7,271	$ 32,792
Restricted cash	8,025	7,981
Accounts receivable	231,585	243,428
Trade receivable	4,985	4,146
Assets held for sale	30,150	45,157
Prepaid expenses and other current assets	33,923	26,906
Total current assets	439,927	359,275
Property and equipment, net	162,063	169,437
Broadcast licenses	1,540,183	1,578,066
Other intangible assets, net	116,499	174,530	243,640
Goodwill	135,214	703,354
Investment in consolidated subsidiaries	0	0
Intercompany receivables	0	0
Other assets	18,805	17,726
Total assets	2,412,691	3,002,388
Current liabilities:
Accounts payable and accrued expenses	96,241	118,396
Trade payable	4,550	4,374
Total current liabilities	100,791	122,770
Term loan, net of debt issuance costs/discounts	1,780,357	1,801,416
7.75% senior notes, net of debt issuance costs	603,800	601,485
Other liabilities	31,431	44,804
Intercompany payables	0	0
Deferred income taxes	388,050	415,881
Total liabilities	2,904,429	2,986,356
Stockholders' equity (deficit):
Treasury stock, at cost	(229,310)	(229,310)
Additional paid-in-capital	1,624,815	1,621,865
Accumulated (deficit) equity	(1,887,564)	(1,376,844)
Total stockholders’ equity	(491,738)	16,032	541,580	512,740
Total liabilities and stockholders’ equity	2,412,691	3,002,388
Class A Common Stock
Stockholders' equity (deficit):
Common stock	320	320
Class C Common Stock
Stockholders' equity (deficit):
Common stock	1	1
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable	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	(3,973,430)	(4,951,251)
Intercompany receivables	(1,951,856)	(1,745,901)
Other assets	(139,186)	(106,035)
Total assets	(6,064,472)	(6,803,187)
Current liabilities:
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Term loan, net of debt issuance costs/discounts	0	0
7.75% senior notes, net of debt issuance costs	0	0
Other liabilities	0	0
Intercompany payables	(1,951,856)	(1,745,901)
Deferred income taxes	(139,186)	(106,035)
Total liabilities	(2,091,042)	(1,851,936)
Stockholders' equity (deficit):
Treasury stock, at cost	0	0
Additional paid-in-capital	(6,457,173)	(6,520,419)
Accumulated (deficit) equity	2,483,743	1,569,168
Total stockholders’ equity	(3,973,430)	(4,951,251)
Total liabilities and stockholders’ equity	(6,064,472)	(6,803,187)
Eliminations | Class A Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Eliminations | Class C Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Cumulus Media Inc. (Parent Guarantor)
Current assets:
Cash and cash equivalents	0	0	0	11,804
Restricted cash	0	0
Accounts receivable	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	(388,509)	110,550
Intercompany receivables	0	0
Other assets	0	0
Total assets	(388,509)	110,550
Current liabilities:
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Term loan, net of debt issuance costs/discounts	0	0
7.75% senior notes, net of debt issuance costs	0	0
Other liabilities	0	0
Intercompany payables	103,229	94,518
Deferred income taxes	0	0
Total liabilities	103,229	94,518
Stockholders' equity (deficit):
Treasury stock, at cost	(229,310)	(229,310)
Additional paid-in-capital	1,624,815	1,621,865
Accumulated (deficit) equity	(1,887,564)	(1,376,844)
Total stockholders’ equity	(491,738)	16,032
Total liabilities and stockholders’ equity	(388,509)	110,550
Cumulus Media Inc. (Parent Guarantor) | Class A Common Stock
Stockholders' equity (deficit):
Common stock	320	320
Cumulus Media Inc. (Parent Guarantor) | Class C Common Stock
Stockholders' equity (deficit):
Common stock	1	1
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Current assets:
Cash and cash equivalents	131,259	31,657	7,268	20,988
Restricted cash	8,025	7,981
Accounts receivable	0	0
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	17,321	6,375
Total current assets	156,605	46,013
Property and equipment, net	4,431	3,685
Broadcast licenses	0	0
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	3,348,992	3,784,551
Intercompany receivables	103,593	95,072
Other assets	21,631	27,491
Total assets	3,635,252	3,956,812
Current liabilities:
Accounts payable and accrued expenses	19,994	31,997
Trade payable	0	0
Total current liabilities	19,994	31,997
Term loan, net of debt issuance costs/discounts	1,780,357	1,801,416
7.75% senior notes, net of debt issuance costs	603,800	601,485
Other liabilities	2,932	3,963
Intercompany payables	1,616,678	1,407,401
Deferred income taxes	0	0
Total liabilities	4,023,761	3,846,262
Stockholders' equity (deficit):
Treasury stock, at cost	0	0
Additional paid-in-capital	275,107	268,673
Accumulated (deficit) equity	(663,616)	(158,123)
Total stockholders’ equity	(388,509)	110,550
Total liabilities and stockholders’ equity	3,635,252	3,956,812
Cumulus Media Holdings Inc. (Subsidiary Issuer) | Class A Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Cumulus Media Holdings Inc. (Subsidiary Issuer) | Class C Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Subsidiary Guarantors
Current assets:
Cash and cash equivalents	0	0	3	0
Restricted cash	0	0
Accounts receivable	0	0
Trade receivable	4,985	4,146
Assets held for sale	30,150	45,157
Prepaid expenses and other current assets	16,602	20,531
Total current assets	51,737	69,834
Property and equipment, net	157,632	165,752
Broadcast licenses	0	0
Other intangible assets, net	116,499	174,530
Goodwill	135,214	703,354
Investment in consolidated subsidiaries	1,012,947	1,056,150
Intercompany receivables	1,848,263	1,650,829
Other assets	135,996	95,716
Total assets	3,458,288	3,916,165
Current liabilities:
Accounts payable and accrued expenses	76,247	86,399
Trade payable	4,550	4,374
Total current liabilities	80,797	90,773
Term loan, net of debt issuance costs/discounts	0	0
7.75% senior notes, net of debt issuance costs	0	0
Other liabilities	28,499	40,841
Intercompany payables	0	0
Deferred income taxes	0	0
Total liabilities	109,296	131,614
Stockholders' equity (deficit):
Treasury stock, at cost	0	0
Additional paid-in-capital	4,191,057	4,219,060
Accumulated (deficit) equity	(842,065)	(434,509)
Total stockholders’ equity	3,348,992	3,784,551
Total liabilities and stockholders’ equity	3,458,288	3,916,165
Subsidiary Guarantors | Class A Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Subsidiary Guarantors | Class C Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Subsidiary Non-guarantors
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
Accounts receivable	231,585	243,428
Trade receivable	0	0
Assets held for sale	0	0
Prepaid expenses and other current assets	0	0
Total current assets	231,585	243,428
Property and equipment, net	0	0
Broadcast licenses	1,540,183	1,578,066
Other intangible assets, net	0	0
Goodwill	0	0
Investment in consolidated subsidiaries	0	0
Intercompany receivables	0	0
Other assets	364	554
Total assets	1,772,132	1,822,048
Current liabilities:
Accounts payable and accrued expenses	0	0
Trade payable	0	0
Total current liabilities	0	0
Term loan, net of debt issuance costs/discounts	0	0
7.75% senior notes, net of debt issuance costs	0	0
Other liabilities	0	0
Intercompany payables	231,949	243,982
Deferred income taxes	527,236	521,916
Total liabilities	759,185	765,898
Stockholders' equity (deficit):
Treasury stock, at cost	0	0
Additional paid-in-capital	1,991,009	2,032,686
Accumulated (deficit) equity	(978,062)	(976,536)
Total stockholders’ equity	1,012,947	1,056,150
Total liabilities and stockholders’ equity	1,772,132	1,822,048
Subsidiary Non-guarantors | Class A Common Stock
Stockholders' equity (deficit):
Common stock	0	0
Subsidiary Non-guarantors | Class C Common Stock
Stockholders' equity (deficit):
Common stock	$ 0	$ 0

Supplemental Condensed Consol72

Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheets) (Additional Information) (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	May 13, 2011
Allowance for doubtful accounts	$ 4,691	$ 4,923
Debt issuance cost (premium)	$ 29,909	$ 37,524
Treasury stock, shares	2,806,187	2,805,743
Class A Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	93,750,000	93,750,000
Common stock, shares issued	32,031,054	31,987,862
Common stock, shares outstanding	29,225,765	29,182,118
Class C Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	80,609	80,609
Common stock, shares issued	80,609	80,609
Common stock, shares outstanding	80,609	80,609
7.75% Senior Notes
Interest rate	7.75%	7.75%	7.75%
Debt issuance costs	$ 6,200	$ 8,515

Supplemental Condensed Consol73

Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statements of Cash Flows) (Detail) - USD ($) $ in Thousands	Aug. 30, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net (loss) income		$ (543,677)	$ 46,321	$ 1,066	$ (14,429)	$ (4,599)	$ (542,179)	$ 12,299	$ (12,015)	$ (510,720)	$ (546,494)	$ 11,769
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										87,267	102,105	115,275
Amortization of debt issuance costs/discounts										9,961	9,541	9,493
Provision for doubtful accounts										1,103	4,501	4,302
Gain on sale of assets or stations										(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill										604,965	565,584	0
Fair value adjustment of derivative instruments										0	0	21
Impairment charges - equity interest in Pulser Media Inc.										0	19,364	0
Deferred income taxes										(27,831)	(48,262)	6,902
Stock-based compensation expense										2,948	21,033	17,638
Gain on early extinguishment of debt										(8,017)	(13,222)	0
Earnings (loss) from consolidated subsidiaries										0	0	0
Changes in assets and liabilities										(28,236)	(34,574)	(27,262)
Net cash provided by operating activities										35,745	82,432	136,796
Cash flows from investing activities:
Proceeds from sale of assets or stations	$ 110,600									106,935	9,201	15,843
Restricted cash										(44)	2,074	(3,909)
Capital expenditures										(23,037)	(19,236)	(19,006)
Proceeds from exchange of assets or stations												15,843
Acquisitions less cash acquired										0	0	(8,500)
Net cash provided by (used in) investing activities										83,854	(7,961)	(15,572)
Cash flows from financing activities:
Intercompany transactions, net										0	0	0
Repayment of borrowings under term loans and revolving credit facilities										(20,000)	(50,000)	(156,125)
Proceeds from borrowings under term loans and revolving credit facilities										0	0	10,000
Tax withholding payments on behalf of employees										0	(93)	(1,332)
Proceeds from exercise of warrants										3	8	113
Proceeds from exercise of options										0	0	620
Deferred financing costs										0	0	(21)
Net cash used in financing activities										(19,997)	(50,085)	(146,745)
Increase (decrease) in cash and cash equivalents										99,602	24,386	(25,521)
Cash and cash equivalents at beginning of period					31,657				7,271	31,657	7,271	32,792
Cash and cash equivalents at end of period		131,259				31,657				131,259	31,657	7,271
Eliminations
Cash flows from operating activities:
Net (loss) income										914,575	967,479	(164,839)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										0	0	0
Amortization of debt issuance costs/discounts										0	0	0
Provision for doubtful accounts										0	0	0
Gain on sale of assets or stations										0	0	0
Impairment of intangible assets and goodwill										0	0
Fair value adjustment of derivative instruments												0
Impairment charges - equity interest in Pulser Media Inc.											0
Deferred income taxes										0	0	0
Stock-based compensation expense										0	0	0
Gain on early extinguishment of debt										0	0
Earnings (loss) from consolidated subsidiaries										(914,575)	(967,479)	164,839
Changes in assets and liabilities										0	0	0
Net cash provided by operating activities										0	0	0
Cash flows from investing activities:
Proceeds from sale of assets or stations										0	0
Restricted cash										0	0	0
Capital expenditures										0	0	0
Proceeds from exchange of assets or stations												0
Acquisitions less cash acquired												0
Net cash provided by (used in) investing activities										0	0	0
Cash flows from financing activities:
Intercompany transactions, net										0	0	0
Repayment of borrowings under term loans and revolving credit facilities										0	0	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	0
Proceeds from exercise of options												0
Deferred financing costs
Net cash used in financing activities										0	0	0
Increase (decrease) in cash and cash equivalents										0	0	0
Cash and cash equivalents at beginning of period					0				0	0	0	0
Cash and cash equivalents at end of period		0				0				0	0	0
Cumulus Media Inc. (Parent Guarantor)
Cash flows from operating activities:
Net (loss) income										(510,720)	(546,494)	11,769
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										0	0	0
Amortization of debt issuance costs/discounts										0	0	0
Provision for doubtful accounts										0	0	0
Gain on sale of assets or stations										0	0	0
Impairment of intangible assets and goodwill										0	0
Fair value adjustment of derivative instruments												0
Impairment charges - equity interest in Pulser Media Inc.											0
Deferred income taxes										(3,484)	(3,494)	(3,739)
Stock-based compensation expense										0	0	0
Gain on early extinguishment of debt										0	0
Earnings (loss) from consolidated subsidiaries										505,493	541,253	(17,379)
Changes in assets and liabilities										0	0	0
Net cash provided by operating activities										(8,711)	(8,735)	(9,349)
Cash flows from investing activities:
Proceeds from sale of assets or stations										0	0
Restricted cash										0	0	0
Capital expenditures										0	0	0
Proceeds from exchange of assets or stations												0
Acquisitions less cash acquired												0
Net cash provided by (used in) investing activities										0	0	0
Cash flows from financing activities:
Intercompany transactions, net										8,708	8,727	(3,188)
Repayment of borrowings under term loans and revolving credit facilities										0	0	0
Proceeds from borrowings under term loans and revolving credit facilities												0
Tax withholding payments on behalf of employees											0	0
Proceeds from exercise of warrants										3	8	113
Proceeds from exercise of options												620
Deferred financing costs												0
Net cash used in financing activities										8,711	8,735	(2,455)
Increase (decrease) in cash and cash equivalents										0	0	(11,804)
Cash and cash equivalents at beginning of period					0				0	0	0	11,804
Cash and cash equivalents at end of period		0				0				0	0	0
Cumulus Media Holdings Inc. (Subsidiary Issuer)
Cash flows from operating activities:
Net (loss) income										(505,493)	(541,253)	17,379
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										1,530	1,525	1,619
Amortization of debt issuance costs/discounts										9,771	9,351	9,302
Provision for doubtful accounts										0	0	0
Gain on sale of assets or stations										0	0	0
Impairment of intangible assets and goodwill										0	0
Fair value adjustment of derivative instruments												21
Impairment charges - equity interest in Pulser Media Inc.											0
Deferred income taxes										(65,292)	(77,584)	(81,993)
Stock-based compensation expense										2,948	21,033	17,638
Gain on early extinguishment of debt										(8,017)	(13,222)
Earnings (loss) from consolidated subsidiaries										407,556	424,877	(148,874)
Changes in assets and liabilities										361,825	306,482	349,463
Net cash provided by operating activities										204,828	131,209	164,555
Cash flows from investing activities:
Proceeds from sale of assets or stations										0	0
Restricted cash										(44)	2,074	(3,909)
Capital expenditures										(2,276)	(2,557)	(1,000)
Proceeds from exchange of assets or stations												0
Acquisitions less cash acquired												0
Net cash provided by (used in) investing activities										(2,320)	(483)	(4,909)
Cash flows from financing activities:
Intercompany transactions, net										(82,906)	(56,244)	(50,909)
Repayment of borrowings under term loans and revolving credit facilities										(20,000)	(50,000)	(121,125)
Proceeds from borrowings under term loans and revolving credit facilities												0
Tax withholding payments on behalf of employees											(93)	(1,332)
Proceeds from exercise of warrants										0	0	0
Proceeds from exercise of options												0
Deferred financing costs												0
Net cash used in financing activities										(102,906)	(106,337)	(173,366)
Increase (decrease) in cash and cash equivalents										99,602	24,389	(13,720)
Cash and cash equivalents at beginning of period					31,657				7,268	31,657	7,268	20,988
Cash and cash equivalents at end of period		131,259				31,657				131,259	31,657	7,268
Subsidiary Guarantors
Cash flows from operating activities:
Net (loss) income										(407,556)	(424,877)	148,874
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										85,737	100,580	113,656
Amortization of debt issuance costs/discounts										0	0	0
Provision for doubtful accounts										1,103	4,501	4,302
Gain on sale of assets or stations										(95,695)	2,856	(1,342)
Impairment of intangible assets and goodwill										604,965	565,584
Fair value adjustment of derivative instruments												0
Impairment charges - equity interest in Pulser Media Inc.											19,364
Deferred income taxes										41,963	33,716	93,576
Stock-based compensation expense										0	0	0
Gain on early extinguishment of debt										0	0
Earnings (loss) from consolidated subsidiaries										1,526	1,349	1,414
Changes in assets and liabilities										(392,415)	(343,115)	(368,911)
Net cash provided by operating activities										(160,372)	(40,042)	(8,431)
Cash flows from investing activities:
Proceeds from sale of assets or stations										106,935	9,201
Restricted cash										0	0	0
Capital expenditures										(20,761)	(16,679)	(18,006)
Proceeds from exchange of assets or stations												15,843
Acquisitions less cash acquired												(8,500)
Net cash provided by (used in) investing activities										86,174	(7,478)	(10,663)
Cash flows from financing activities:
Intercompany transactions, net										74,198	47,517	19,097
Repayment of borrowings under term loans and revolving credit facilities										0	0	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	0
Proceeds from exercise of options												0
Deferred financing costs												0
Net cash used in financing activities										74,198	47,517	19,097
Increase (decrease) in cash and cash equivalents										0	(3)	3
Cash and cash equivalents at beginning of period					0				3	0	3	0
Cash and cash equivalents at end of period		0				0				0	0	3
Subsidiary Non-guarantors
Cash flows from operating activities:
Net (loss) income										(1,526)	(1,349)	(1,414)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization										0	0	0
Amortization of debt issuance costs/discounts										190	190	191
Provision for doubtful accounts										0	0	0
Gain on sale of assets or stations										0	0	0
Impairment of intangible assets and goodwill										0	0
Fair value adjustment of derivative instruments												0
Impairment charges - equity interest in Pulser Media Inc.											0
Deferred income taxes										(1,018)	(900)	(942)
Stock-based compensation expense										0	0	0
Gain on early extinguishment of debt										0	0
Earnings (loss) from consolidated subsidiaries										0	0	0
Changes in assets and liabilities										2,354	2,059	(7,814)
Net cash provided by operating activities										0	0	(9,979)
Cash flows from investing activities:
Proceeds from sale of assets or stations										0	0
Restricted cash										0	0	0
Capital expenditures										0	0	0
Proceeds from exchange of assets or stations												0
Acquisitions less cash acquired												0
Net cash provided by (used in) investing activities										0	0	0
Cash flows from financing activities:
Intercompany transactions, net										0	0	35,000
Repayment of borrowings under term loans and revolving credit facilities										0	0	(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	0
Proceeds from exercise of options												0
Deferred financing costs												(21)
Net cash used in financing activities										0	0	9,979
Increase (decrease) in cash and cash equivalents										0	0	0
Cash and cash equivalents at beginning of period					$ 0				$ 0	0	0	0
Cash and cash equivalents at end of period		$ 0				$ 0				$ 0	$ 0	$ 0

Segment Data (Details)

Segment Data (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net revenue	$ 299,541	$ 286,136	$ 287,193	$ 268,530	$ 308,825	$ 289,441	$ 299,334	$ 271,079	$ 1,141,400	$ 1,168,679	$ 1,263,423
Income tax benefit (expense)									26,154	45,840	(10,254)
Non operating expense, including net interest expense									128,085	113,819	139,807
LMA fees									(12,824)	(10,129)	(7,195)
Depreciation and amortization									(87,267)	(102,105)	(115,275)
Stock-based compensation expense									(2,948)	(21,033)	(17,638)
Gain (loss) on sale of assets or stations									(95,695)	2,856	(1,342)
Impairment of intangible assets									(604,965)	(565,584)	0
Less: Impairment charge									0	(19,364)	0
Gain on early extinguishment of debt									8,017	13,222	0
Net (loss) income	$ (543,677)	$ 46,321	$ 1,066	$ (14,429)	$ (4,599)	$ (542,179)	$ 12,299	$ (12,015)	(510,720)	(546,494)	11,769
Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA									241,176	294,631	359,714
Operating Segments | Radio Station Group
Segment Reporting Information [Line Items]
Net revenue									802,396	796,383	838,567
Segment Adjusted EBITDA									218,192	241,673	273,483
Operating Segments | Westwood One
Segment Reporting Information [Line Items]
Net revenue									336,610	368,968	421,000
Segment Adjusted EBITDA									22,984	52,958	86,231
Corporate and Other | Corporate and Other
Segment Reporting Information [Line Items]
Net revenue									2,394	3,328	3,856
Corporate and other									(35,309)	(35,486)	30,188
Adjustments
Segment Reporting Information [Line Items]
Income tax benefit (expense)									26,154	45,840	(10,254)
Non operating expense, including net interest expense									(136,102)	(127,041)	(139,807)
LMA fees									(12,824)	(10,129)	(7,195)
Depreciation and amortization									(87,267)	(102,105)	(115,276)
Stock-based compensation expense									(2,948)	(21,035)	(17,638)
Gain (loss) on sale of assets or stations									95,695	(2,856)	1,343
Impairment of intangible assets									(604,965)	(565,580)	0
Less: Impairment charge									0	(19,364)	0
Acquisition-related and restructuring costs									(1,817)	(16,641)	(28,326)
Franchise and state taxes									(530)	50	(604)
Gain on early extinguishment of debt									$ 8,017	$ 13,222	$ 0

Schedule II, Valuation and Qual

Schedule II, Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 4,923	$ 6,004	$ 5,306
Charged to Costs and Expenses	1,103	4,501	4,302
Deductions	(1,335)	(5,582)	(3,604)
Balance at End of Year	4,691	4,923	6,004
Valuation allowance on deferred taxes
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	17,173	18,991	16,802
Charged to Costs and Expenses	32	517	2,189
Deductions	0	(2,335)	0
Balance at End of Year	$ 17,205	$ 17,173	$ 18,991