Cumulus Media (CMLS) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 28, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38108
Entity Registrant Name	Cumulus Media Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-5134717
Entity Address, Address Line One	3280 Peachtree Road,
Entity Address, Address Line Two	NW Suite 2200
Entity Address, City or Town	Atlanta,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30305
City Area Code	404
Local Phone Number	949-0700
Title of 12(b) Security	Class A common stock, par value $0.0000001 per share
Trading Symbol	CMLS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Central Index Key	0001058623
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		18,445,643
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,040,152

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 124,978	$ 271,761
Accounts receivable, less allowance for doubtful accounts of $5,867 and $6,745 at June 30, 2021 and December 31, 2020, respectively	179,562	201,275
Trade receivable	2,600	1,986
Assets held for sale	12,962	0
Prepaid expenses and other current assets	32,521	27,942
Total current assets	352,623	502,964
Property and equipment, net	192,776	208,692
Operating lease right-of-use assets	151,840	157,568
Broadcast licenses	824,164	825,590
Other intangible assets, net	134,514	144,387
Deferred income tax assets	11,734	7,779
Other assets	8,655	12,758
Total assets	1,676,306	1,859,738
Current liabilities:
Accounts payable and accrued expenses	93,928	94,128
Current portion of operating lease liabilities	28,053	28,121
Trade payable	1,860	1,537
Current portion of term loan due 2026	0	5,250
Total current liabilities	123,841	129,036
2020 revolving credit facility	0	60,000
Paycheck Protection Program ("PPP") loans	20,000	0
Term loan due 2026, net of debt issuance costs of $2,654 and $3,850 at June 30, 2021 and December 31, 2020, respectively	353,586	460,311
6.75% senior notes, net of debt issuance costs of $5,035 and $5,486 at June 30, 2021 and December 31, 2020, respectively	444,660	447,350
Operating lease liabilities	126,006	129,273
Financing liabilities, net	222,253	222,802
Other liabilities	14,285	13,375
Total liabilities	1,304,631	1,462,147
Commitments and contingencies (Note 9)
Stockholders’ equity:
Treasury stock, at cost, 226,659 and 174,222 shares at June 30, 2021 and December 31, 2020, respectively	(2,937)	(2,414)
Additional paid-in-capital	339,457	337,042
Retained earnings	35,155	62,963
Total stockholders’ equity	371,675	397,591
Total liabilities and stockholders’ equity	1,676,306	1,859,738
Class A Common Stock
Stockholders’ equity:
Common stock	0	0
Class B Common Stock
Stockholders’ equity:
Common stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Accounts receivable, less allowance for doubtful accounts	$ 5,867	$ 6,745
Debt issuance costs	$ 2,654	$ 3,850
Common stock, shares issued (in shares)	20,712,454
Common stock, shares outstanding (in shares)	20,485,795
Treasury stock, shares (in shares)	226,659	174,222
Class A Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (usd per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	18,672,302	18,135,956
Common stock, shares outstanding (in shares)	18,445,643	17,961,734
Class B Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (usd per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	2,040,152	2,416,253
Common stock, shares outstanding (in shares)	2,040,152	2,416,253
6.75% Senior Notes
Condensed Financial Statements, Captions [Line Items]
Debt issuance costs	$ 5,035	$ 5,486
Stated rate	0.0675%	0.0675%
6.75% Senior Notes | Senior Notes
Condensed Financial Statements, Captions [Line Items]
Stated rate	6.75%

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net revenue	$ 224,718	$ 146,022	$ 426,446	$ 373,936
Operating expenses:
Content costs	82,882	65,725	173,030	154,291
Selling, general and administrative expenses	93,063	79,904	183,161	183,531
Depreciation and amortization	13,163	13,122	26,573	25,912
Local marketing agreement fees	193	1,006	689	2,053
Corporate expenses	22,971	10,331	39,409	22,139
(Gain) loss on sale or disposal of assets or stations	(179)	3,767	(462)	5,583
Impairment of intangible assets	0	4,509	0	4,509
Total operating expenses	212,093	178,364	422,400	398,018
Operating income (loss)	12,625	(32,342)	4,046	(24,082)
Non-operating expense:
Interest expense	(18,091)	(15,888)	(35,640)	(33,047)
Other income (expense), net	314	(59)	174	(60)
Total non-operating expense, net	(17,777)	(15,947)	(35,466)	(33,107)
Loss before income taxes	(5,152)	(48,289)	(31,420)	(57,189)
Income tax (expense) benefit	(739)	11,973	3,611	13,522
Net loss	$ (5,891)	$ (36,316)	$ (27,809)	$ (43,667)
Basic and diluted loss per common share (see Note 8, "Loss Per Share"):
Basic: (Loss) Earnings per share (USD per share)	$ (0.29)	$ (1.79)	$ (1.36)	$ (2.15)
Diluted: (Loss) Earnings per share (USD per share)	$ (0.29)	$ (1.79)	$ (1.36)	$ (2.15)
Weighted average basic common shares outstanding (in shares)	20,475,348	20,332,970	20,447,553	20,279,022
Weighted average diluted common shares outstanding (in shares)	20,475,348	20,332,970	20,447,553	20,279,022

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2019		15,681,439	1,926,848	68,658
Beginning balance at Dec. 31, 2019	$ 455,216	$ 0	$ 0	$ (1,171)	$ 333,705	$ 122,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,351)					(7,351)
Shares returned in lieu of tax payments (in shares)				75,493
Shares returned in lieu of tax payments	(1,072)			$ (1,072)
Conversion of Class B Common Stock (in shares)		38,563	(38,563)
Exercise of warrants (in shares)		121,114
Issuance of common stock (in shares)		112,569
Stock based compensation expense	719				719
Ending balance (in shares) at Mar. 31, 2020		15,953,685	1,888,285	144,151
Ending balance at Mar. 31, 2020	447,512	$ 0	$ 0	$ (2,243)	334,424	115,331
Beginning balance (in shares) at Dec. 31, 2019		15,681,439	1,926,848	68,658
Beginning balance at Dec. 31, 2019	455,216	$ 0	$ 0	$ (1,171)	333,705	122,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(43,667)
Ending balance (in shares) at Jun. 30, 2020		17,743,414	2,574,600	174,222
Ending balance at Jun. 30, 2020	412,010	$ 0	$ 0	$ (2,414)	335,409	79,015
Beginning balance (in shares) at Mar. 31, 2020		15,953,685	1,888,285	144,151
Beginning balance at Mar. 31, 2020	447,512	$ 0	$ 0	$ (2,243)	334,424	115,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(36,316)					(36,316)
Shares returned in lieu of tax payments (in shares)				30,071
Shares returned in lieu of tax payments	(171)			$ (171)
Exercise of warrants (in shares)		1,723,253	686,315
Issuance of common stock (in shares)		66,476
Stock based compensation expense	985				985
Ending balance (in shares) at Jun. 30, 2020		17,743,414	2,574,600	174,222
Ending balance at Jun. 30, 2020	412,010	$ 0	$ 0	$ (2,414)	335,409	79,015
Beginning balance (in shares) at Dec. 31, 2020		17,961,734	2,416,253	174,222
Beginning balance at Dec. 31, 2020	397,591	$ 0	$ 0	$ (2,414)	337,042	62,963
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,917)					(21,917)
Shares returned in lieu of tax payments (in shares)				33,666
Shares returned in lieu of tax payments	(315)			$ (315)
Conversion of Class B Common Stock (in shares)		298,347	(298,347)
Issuance of common stock (in shares)		67,635
Stock based compensation expense	1,057				1,057
Ending balance (in shares) at Mar. 31, 2021		18,327,716	2,117,906	207,888
Ending balance at Mar. 31, 2021	376,416	$ 0	$ 0	$ (2,729)	338,099	41,046
Beginning balance (in shares) at Dec. 31, 2020		17,961,734	2,416,253	174,222
Beginning balance at Dec. 31, 2020	397,591	$ 0	$ 0	$ (2,414)	337,042	62,963
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(27,809)
Ending balance (in shares) at Jun. 30, 2021		18,445,643	2,040,152	226,659
Ending balance at Jun. 30, 2021	371,675	$ 0	$ 0	$ (2,937)	339,457	35,155
Beginning balance (in shares) at Mar. 31, 2021		18,327,716	2,117,906	207,888
Beginning balance at Mar. 31, 2021	376,416	$ 0	$ 0	$ (2,729)	338,099	41,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,891)					(5,891)
Shares returned in lieu of tax payments (in shares)				18,771
Shares returned in lieu of tax payments	(208)			$ (208)
Conversion of Class B Common Stock (in shares)		77,754	(77,754)
Issuance of common stock (in shares)		40,173
Stock based compensation expense	1,358				1,358
Ending balance (in shares) at Jun. 30, 2021		18,445,643	2,040,152	226,659
Ending balance at Jun. 30, 2021	$ 371,675	$ 0	$ 0	$ (2,937)	$ 339,457	$ 35,155

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (27,809)	$ (43,667)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	26,573	25,912
Amortization of right of use assets	9,518	6,809
Amortization and write-off of debt issuance costs	1,889	1,541
Provision for doubtful accounts	(1,296)	3,702
(Gain) loss on sale or disposal of assets or stations	(462)	5,583
Impairment of intangible assets	0	4,509
Deferred income taxes	(3,955)	(4,784)
Stock-based compensation expense	2,415	1,704
Non-cash interest expense on financing liabilities	2,008	400
Non-cash imputed rental income	(2,222)	0
Changes in assets and liabilities (excluding acquisitions and dispositions):
Accounts receivable	23,010	84,866
Trade receivable	(614)	(697)
Prepaid expenses and other current assets	(4,580)	(9,762)
Operating leases, net	(7,055)	9,522
Other assets	3,646	(4,396)
Accounts payable and accrued expenses	(977)	(33,468)
Trade payable	323	115
Other liabilities	279	4,100
Net cash provided by operating activities	20,691	51,989
Cash flows from investing activities:
Proceeds from sale of assets or stations	91	78,333
Proceeds from insurance reimbursement	750	0
Capital expenditures	(11,971)	(5,575)
Net cash (used in) provided by investing activities	(11,130)	72,758
Cash flows from financing activities:
Repayment of borrowings under term loan	(113,171)	(2,626)
Repayments of Senior Debt	(3,141)	0
Repayments of borrowings under the 2020 revolving credit facility	(60,000)	0
Proceeds from PPP loans	20,000	0
Borrowings under the 2020 revolving credit facility	0	60,000
Financing costs	0	(444)
Shares returned in lieu of tax payments	(523)	(1,243)
Transaction costs for financing liability	(7)	0
Proceeds from financing liability	2,635	0
Repayments of financing liabilities	(1,994)	(171)
Repayments of finance lease obligations	(143)	(356)
Net cash (used in) provided by financing activities	(156,344)	55,160
(Decrease) increase in cash and cash equivalents	(146,783)	179,907
Cash and cash equivalents at beginning of period	271,761	17,007
Cash and cash equivalents at end of period	$ 124,978	$ 196,914

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - 6.75% Senior Notes	Jun. 30, 2021	Dec. 31, 2020	Jun. 26, 2019
Stated rate	0.0675%	0.0675%
Senior Notes
Stated rate	6.75%		6.75%

Nature of Business, Interim Fin

Nature of Business, Interim Financial Data and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business, Interim Financial Data and Basis of Presentation	Nature of Business, Interim Financial Data and Basis of Presentation Cumulus Media Inc. (and its consolidated subsidiaries, except as the context may otherwise require, "CUMULUS MEDIA," "we," "us," "our," or the "Company") is a Delaware corporation, organized in 2018, and successor to a Delaware corporation with the same name that had been organized in 2002. Nature of Business CUMULUS MEDIA (NASDAQ: CMLS) is a leading media, advertising, and marketing services company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 413 owned-and-operated stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across nearly 7,300 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the CUMULUS Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company has one reportable segment and presents the comparative periods on a consolidated basis to reflect the one reportable segment. In the opinion of management, the Company's unaudited Condensed Consolidated Financial Statements include all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented herein. The accompanying condensed consolidated balance sheet as of December 31, 2020, was derived from the Company’s audited financial statements as of December 31, 2020, and our accompanying unaudited Condensed Consolidated Financial Statements as of June 30, 2021 and for the periods ended June 30, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. The financial condition and results for the interim periods are not necessarily indicative of those that may be expected for any future interim period or for the full year. The unaudited Condensed Consolidated Financial Statements herein should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including significant estimates related to bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, valuation assumptions for impairment analysis, certain expense accruals, leases and, if applicable, purchase price allocations. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. We assessed these aforementioned estimates and judgments utilizing information reasonably available to us and considering the unknown future impacts of the novel coronavirus disease ("COVID-19") pandemic. The business and economic uncertainty resulting from the COVID-19 pandemic has made such estimates and assumptions more difficult to calculate. While there was not a material impact to our key estimates as of and for the quarter ended June 30, 2021, our estimates may change based on the magnitude and duration of COVID-19, as well as other factors. Actual amounts and results may differ materially from these estimates. Comprehensive Loss Comprehensive loss includes net loss and certain items that are excluded from net loss and recorded as a separate component of stockholders' equity. During the six months ended June 30, 2021 and 2020, the Company had no items of other comprehensive loss and, therefore, comprehensive loss does not differ from reported net loss. Assets Held for Sale Long-lived assets to be sold are classified as held for sale in the period in which they meet all the criteria for the disposal of long-lived assets. The Company measures assets held for sale at the lower of their carrying amount or fair value less cost to sell. On June 10, 2021, the Company entered into an agreement to sell certain land, a single-story building and certain related equipment in the Company's Nashville, TN market ("Nashville Sale") to a third party. The transaction closed on August 2, 2021. The assets held for sale financial statement line item of the Company’s Condensed Consolidated Balance Sheet is primarily composed of the Nashville Sale. As of June 30, 2021, assets held for sale was $13.0 million. As of December 31, 2020, the Company had no assets held for sale. Tower Sale The Company completed the final closing with Vertical Bridge REIT, LLC for the sale of substantially all of the Company's broadcast communications tower sites and certain other related assets (the "Tower Sale") on June 30, 2021, for net proceeds of $2.6 million. In connection with the Tower Sale, the Company will be entering into individual site leases for the continued use of substantially all of the assets that were included in the Tower Sale. As the terms of the Tower Sale arrangement contain a repurchase option, the leaseback was not accounted for as a sale. The carrying amount of the leased back assets will remain on the Company's books and continue to be depreciated over their remaining useful lives. The proceeds received for the leased back assets have been recorded as a financing liability . Supplemental Cash Flow Information The following summarizes supplemental cash flow information to be read in conjunction with the unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 June 30, 2020 Supplemental disclosures of cash flow information: Interest paid $ 31,876 $ 30,598 Income taxes paid (refunded) 5,480 (202) Supplemental disclosures of non-cash flow information: Trade revenue $ 18,777 $ 14,921 Trade expense 18,479 14,172 Noncash principal change in financing liabilities (22) 410 Recent Accounting Standards Updates ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326) ("ASU 2016-13"). In June 2016, the FASB issued ASU 2016-13 which requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of "probable" has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset's origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard was effective for public business entities, excluding Smaller Reporting Companies ("SRC"), for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The standard is effective for SRCs for fiscal years beginning after December 15, 2022. Early adoption is permitted

Revenues

Revenues	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue Recognition Revenues are recognized when control of the promised goods or services are transferred to the customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following table presents revenues disaggregated by revenue source (dollars in thousands): Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Advertising revenues $ 220,764 $ 142,873 Non-advertising revenues 3,954 3,149 Total revenue $ 224,718 $ 146,022 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Advertising revenues $ 417,200 $ 367,413 Non-advertising revenues 9,246 6,523 Total revenue $ 426,446 $ 373,936 Advertising Revenues Substantially all of the Company's revenues are from advertising, primarily generated through (i) the sale of broadcast radio advertising time and advertising and promotional opportunities across digital audio networks to local, regional, national and network advertisers and (ii) remote/event revenue. The Company considers each advertising element a separate contract, and thus a separate performance obligation, as a result of both the customer's and the Company's respective ability to stop transferring promised goods or services during the contract term without notice or penalty. As a result, revenue associated with these contracts is recognized at the time advertising or other services, for example hosting an event, are delivered. The Company's payment terms vary by the type and location of customer and the products or services offered. The term between invoicing and when payment is due is generally not significant. There are no further obligations for returns, refunds or similar obligations related to the contracts. The Company records deferred revenues when cash payments, including amounts which are refundable, are received in advance of performance. Non-Advertising Revenues Non-advertising revenue does not constitute a material portion of the Company's revenue and primarily consists of licensing content, and to a lesser degree, imputed tower rental income and satellite rental income. Trade and Barter Transactions The Company provides commercial advertising inventory in exchange for goods and services used principally for promotional, sales, programming and other business activities. Programming barter revenue is derived from an exchange of programming content, to be broadcast on the Company's airwaves, for commercial advertising inventory, usually in the form of commercial placements inside the show exchanged. Trade and barter value is based upon management's estimate of the fair value of the products, supplies and services received. Trade and barter revenue is recorded when commercial spots are aired, in the same pattern as the Company's normal cash spot revenue is recognized. Trade and barter expense is recorded when goods or services are consumed. For the three months ended June 30, 2021 and 2020, amounts reflected under trade and barter transactions were: (1) trade and barter revenues of $8.5 million and $5.8 million, respectively; and (2) trade and barter expenses of $8.9 million and $6.1 million, respectively. For the six months ended June 30, 2021 and 2020, amounts reflected under trade and barter transactions were: (1) trade and barter revenues of $18.8 million, and $14.9 million, respectively; and (2) trade and barter expenses of $18.5 million, and $14.2 million, respectively. Capitalized Costs of Obtaining a Contract The Company capitalizes certain incremental costs of obtaining contracts with customers which it expects to recover. For contracts with a customer life of one year or less, commissions are expensed as they are incurred. For new local direct contracts where the new and renewal commission rates are not commensurate, management capitalizes commissions and amortizes the capitalized commissions over the average customer life. These costs are recorded within selling, general and administrative expenses in our unaudited Condensed Consolidated Statements of Operations. As of June 30, 2021 and December 31, 2020, the Company recorded an asset of approximately $5.7 million and $5.8 million, respectively, related to the unamortized portion of commission expense on new local direct revenue.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The gross carrying amount and accumulated amortization of the Company’s intangible assets as of June 30, 2021 and December 31, 2020 are as follows (dollars in thousands): Indefinite-Lived Definite-Lived Total Gross Carrying Amount Trademarks Affiliate and producer relationships Broadcast advertising Tower income contracts Other Balance as of December 31, 2020 $ 825,590 $ 19,760 $ 130,000 $ 32,000 $ 13,592 $ 11,060 $ 1,032,002 Assets held for sale (680) — — — — — (680) Dispositions (746) (5) — — (5) (4) (760) Balance as of June 30, 2021 $ 824,164 $ 19,755 $ 130,000 $ 32,000 $ 13,587 $ 11,056 $ 1,030,562 Accumulated Amortization Balance as of December 31, 2020 $ — $ — $ (30,530) $ (16,533) $ (3,902) $ (11,060) $ (62,025) Amortization Expense — — (5,909) (3,200) (755) — (9,864) Dispositions — — — — 1 4 5 Balance as of June 30, 2021 $ — $ — $ (36,439) $ (19,733) $ (4,656) $ (11,056) $ (71,884) Net Book Value as of June 30, 2021 $ 824,164 $ 19,755 $ 93,561 $ 12,267 $ 8,931 $ — $ 958,678 The Company performs impairment testing of its indefinite-lived intangible assets annually as of December 31 of each year and on an interim basis if management believes events or circumstances indicate that its indefinite-lived intangible assets may be impaired. The Company reviews the carrying amount of its definite-lived intangible assets, primarily broadcast advertising and affiliate relationships, for recoverability prior to its annual impairment test and whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company considered the current and expected future economic and market conditions surrounding COVID-19, and other potential indicators of impairment and determined a triggering event had not occurred which would necessitate any interim impairment tests during the three months ended June 30, 2021. We will continue to monitor changes in economic and market conditions, including those related to COVID-19, and if any events or circumstances indicate a triggering event has occurred, we will perform an interim impairment test of our intangible assets at the appropriate time.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consisted of the following as of June 30, 2021 and December 31, 2020 (dollars in thousands): June 30, 2021 December 31, 2020 Term Loan due 2026 $ 356,240 $ 469,411 Less: current portion of Term Loan due 2026 — (5,250) 6.75% Senior Notes 449,695 452,836 2020 Revolving Credit Facility — 60,000 PPP Loans 20,000 — Less: Total unamortized debt issuance costs (7,689) (9,336) Long-term debt, net $ 818,246 $ 967,661 Refinanced Credit Agreement (Term Loan due 2026) On September 26, 2019, the Company entered into a new credit agreement by and among Cumulus Media New Holdings Inc., a Delaware corporation and an indirect wholly-owned subsidiary of the Company ("Holdings"), certain other subsidiaries of the Company, Bank of America, N.A., as Administrative Agent, and the other banks and financial institutions party thereto as Lenders (the "Refinanced Credit Agreement"). Pursuant to the Refinanced Credit Agreement, the lenders party thereto provided Holdings and its subsidiaries that are party thereto as co-borrowers with a $525.0 million senior secured Term Loan (the "Term Loan due 2026"), which was used to refinance the remaining balance of the then outstanding term loan (the "Term Loan due 2022"). Amounts outstanding under the Refinanced Credit Agreement bear interest at a per annum rate equal to (i) the London Inter-bank Offered Rate ("LIBOR") plus an applicable margin of 3.75%, subject to a LIBOR floor of 1.00%, or (ii) the Alternative Base Rate (as defined below) plus an applicable margin of 2.75%, subject to an Alternative Base Rate floor of 2.00%. The Alternative Base Rate is defined, for any day, as the per annum rate 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 rate identified by Bank of America, N.A. as its "Prime Rate" and (iii) one-month LIBOR plus 1.00%. As of June 30, 2021, the Term Loan due 2026 bore interest at a rate of 4.75% per annum. Amounts outstanding under the Term Loan due 2026 amortize in equal quarterly installments of 0.25% of the original principal amount of the Term Loan due 2026 with the balance payable on the maturity date. The maturity date of the Term Loan due 2026 is March 26, 2026. Debt discounts and issuance costs of $5.1 million were capitalized and amortized over the term of the Term Loan due 2026. On August 7, 2020, the Company entered into an agreement with Vertical Bridge REIT, LLC, for the sale of substantially all of the Company's broadcast communications tower sites and certain other related assets (the "Tower Sale"). O n September 30, 2020, pursuant to the Term Loan due 2026, the Company was required to pay down at closing of the Tower Sale $49.0 million. As a result of the pay down, the Company wrote-off approximately $0.4 million of debt issuance costs related to the Term Loan due 2026. The Company was also required by the provisions of the Term Loan due 2026 to prepay any remaining amounts of the net proceeds from the Tower Sale and the Company's previously announced sale of land in Bethesda, MD, in June 2020 (the "Land Sale" and, together with the Tower Sale, the "Sale") not reinvested in accordance with the Term Loan. On May 25, 2021, the Company repaid approximately $89 million of its Term Loan due 2026 related to this mandatory prepayment obligation. Approximately $65 million of the prepayment related to the Land Sale and approximately $23 million of the prepayment related to the Tower Sale. Additionally, as a result of the expiration of the May 2021 Tender Offer (as defined below), the Company applied the untendered amount of approximately $23 million towards an incremental prepayment of the Term Loan due 2026. In conjunction with the prepayments, the Company wrote-off approximately $0.9 million of debt issuance costs related to the Term Loan due 2026. As of June 30, 2021, the Company had approximately $356 million outstanding under its Term Loan due 2026. As of June 30, 2021, we were in compliance with all required covenants under the Refinanced Credit Agreement. 2020 Revolving Credit Agreement On March 6, 2020, Holdings and certain of the Company’s other subsidiaries, as borrowers (the “Borrowers”), and Intermediate Holdings entered into a $100.0 million revolving credit facility (the “2020 Revolving Credit Facility") pursuant to a Credit Agreement (the "2020 Revolving Credit Agreement"), dated as of March 6, 2020, with Fifth Third Bank, as a lender and Administrative Agent and certain other lenders from time to time party thereto. The 2020 Revolving Credit Facility refinances and replaces the Company’s 2018 Revolving Credit Agreement entered into pursuant to that certain Credit Agreement dated as of August 17, 2018, by and among Holdings, the Borrowers, Intermediate Holdings and certain lenders and Deutsche Bank AG New York Branch, as a lender and Administrative Agent. The 2020 Revolving Credit Facility has a maturity date of March 6, 2025. Availability under the 2020 Revolving Credit Facility is tied to a borrowing base equal to 85% of the accounts receivable of the Borrowers, subject to customary reserves and eligibility criteria and reduced by outstanding letters of credit. Under the 2020 Revolving Credit Facility, up to $10.0 million of availability may be drawn in the form of letters of credit and up to $10.0 million of availability may be drawn in the form of swing line loans. Borrowings under the 2020 Revolving Credit Facility bear interest, at the option of Holdings, based on LIBOR plus a percentage spread of 1.00% or the Alternative Base Rate. The Alternative Base Rate is defined, for any day, as the per annum rate equal to the rate identified as the “Prime Rate” by Fifth Third Bank. In addition, the unused portion of the 2020 Revolving Credit Facility will be subject to a commitment fee of 0.25%. The 2020 Revolving Credit Facility contains customary LIBOR successor provisions. The issuance of the 2020 Revolving Credit Agreement was evaluated in accordance with ASC 470-50-40 - Debt-Modifications and Extinguishments - Derecognition , to determine whether the refinance transaction should be accounted for as a debt modification or extinguishment of the 2018 Revolving Credit Agreement. The Company expensed approximately $0.6 million of unamortized debt issuance costs related to the exiting lender from the Revolving Credit Agreement. Costs incurred with third parties for issuance of the 2020 Revolving Credit Agreement totaled approximately $0.4 million and were capitalized and will be amortized over the term of the 2020 Revolving Credit Agreement. On May 17, 2021, the Company completed a $60.0 million repayment of the 2020 Revolving Credit Facility. As of June 30, 2021, $4.3 million was outstanding under the 2020 Revolving Credit Facility, representing letters of credit. As of June 30, 2021, the Company was in compliance with all required covenants under the 2020 Revolving Credit Agreement. 6.75% Senior Notes On June 26, 2019, Holdings (the "Issuer"), and certain of the Company's other subsidiaries, entered into an indenture, dated as of June 26, 2019 (the "Indenture") with U.S. Bank National Association, as trustee, governing the terms of the Issuer's $500,000,000 aggregate principal amount of 6.75% Senior Secured First-Lien Notes due 2026 (the "6.75% Senior Notes"). The 6.75% Senior Notes were issued on June 26, 2019. The net proceeds from the issuance of the 6.75% Senior Notes were applied to partially repay existing indebtedness under the Term Loan due 2022. In conjunction with the issuance of the 6.75% Senior Notes, debt issuance costs of $7.3 million were capitalized and are being amortized over the term of the 6.75% Senior Notes. On November 3, 2020, the Company completed a tender offer (the "November 2020 Tender Offer") pursuant to which it accepted and cancelled $47.2 million in aggregate principal amount of the 6.75% Notes as a result of the Tower Sale. As a result of the November 2020 Tender Offer, the Company wrote-off approximately $0.6 million of debt issuance costs related to the 6.75% Notes accepted and canceled in the transaction. Pursuant to the terms of the Indenture, the Company made a tender offer (the "May 2021 Tender Offer") with respect to the prorated portion of the remaining net proceeds from the Tower Sale which it determined would not be reinvested by the end of the reinvestment period of approximately $26 million of the 6.75% Notes. On June 23, 2021, the May 2021 Tender Offer expired and approximately $3 million aggregate principal amount of the 6.75% Notes was validly tendered and accepted for cancellation. The Company directed the untendered amount of approximately $23 million towards an additional prepayment of the Term Loan due 2026. As a result of the tender offers, the Company had approximately $450 million of 6.75% Notes outstanding as of June 30, 2021. As of June 30, 2021, the Issuer was in compliance with all required covenants under the Indenture. Paycheck Protection Program The Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") and the Consolidated Appropriations Act (collectively, the "COVID-19 Relief Measures") were enacted in response to the COVID-19 pandemic. The COVID-19 Relief Measures and related notices include several significant provisions, including delaying certain payroll tax payments and providing eligibility for loans under the Paycheck Protection Program for public broadcasting entities meeting specified requirements. On April 1, 2021, and in light of the uncertainties that the COVID-19 pandemic continued to present to the Company, the media industry, and the economy, in general, certain subsidiaries of the Company received unsecured loans in an aggregate principal amount of $18.3 million under the Paycheck Protection Program (or "PPP") evidenced by promissory notes with Fifth Third Bank. Together with previous unsecured loans funded under the PPP during the first quarter of 2021, certain subsidiaries of the Company have received unsecured loans under the PPP in an aggregate principal amount of $20 million. PPP Loans received prior to April 1, 2021 were recorded within Other liabilities in the Condensed Consolidated Balance Sheet as of March 31, 2021. Those loans (the "PPP Loans"), which provided additional liquidity for the Company’s subsidiaries, have various maturity dates through April 1, 2026 and accrue interest at an annual rate of 1.0%. Principal and interest payments will be deferred, with interest accruing, until after the period in which the Company may apply for loan forgiveness pursuant to the PPP. After the deferral period, the Company will make monthly principal and interest payments, amortized over the remaining term of the loan. The loan may be prepaid at any time prior to maturity with no prepayment penalties. The promissory notes evidencing the PPP Loans contain customary events of default relating to, among other things, payment defaults and provisions of the promissory notes. The PPP permits borrowers to apply for forgiveness for some or all of the loans based on meeting certain criteria. The Small Business Administration (the "SBA") continues to issue guidance surrounding the criteria for loan forgiveness, and although the Company intends to use the proceeds from the PPP Loans for qualified expenses and to apply for forgiveness, there can be no assurance whether such applications for forgiveness will be approved by the SBA. Other than as outlined above, we do not currently expect the COVID-19 Relief Measures to have a material impact on our financial results or on our liquidity. We will continue to monitor and assess the impact the COVID-19 Relief Measures may have on our business and financial results.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table shows the gross amount and fair value of the Term Loan due 2026 and 6.75% Senior Notes (dollars in thousands): June 30, 2021 December 31, 2020 Term Loan due 2026: Gross value $ 356,240 $ 469,411 Fair value - Level 2 357,131 460,023 6.75% Senior Notes: Gross value $ 449,695 $ 452,836 Fair value - Level 2 469,931 464,157 As of June 30, 2021, the Company used trading prices from a third party of 100.3% and 104.5% to calculate the fair value of the Term Loan due 2026 and the 6.75% Senior Notes, respectively. As of December 31, 2020, the Company used trading prices from a third party of 98.0% and 102.5% to calculate the fair value of the Term Loan 2026 and the 6.75% Senior Notes, respectively. The fair value of the Company's 2020 Revolving Credit Facility as of December 31, 2020 approximates its carrying amount as a result of the market interest rates of this item and is classified as Level 3 within the fair value hierarchy. The fair value of the Company's PPP loans as of June 30, 2021 approximates the carrying amount as a result of the market interest rates of this item and is classified as Level 3 within the fair value hierarchy.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2021, the Company recorded an income tax expense of $0.7 million on pre-tax book loss of $5.2 million, resulting in an effective tax rate of approximately (14.3)%. For the three months ended June 30, 2020, the Company recorded an income tax benefit of $12.0 million on pre-tax book loss of $48.3 million, resulting in an effective tax rate of approximately 24.8%. For the six months ended June 30, 2021, the Company recorded an income tax benefit of $3.6 million on pre-tax book loss of $31.4 million, resulting in an effective tax rate of approximately 11.5%. For the six months ended June 30, 2020, the Company recorded an income tax benefit of $13.5 million on pre-tax book loss of $57.2 million, resulting in an effective tax rate of approximately 23.6%. The differences between the effective tax rates and the federal statutory rate of 21.0% for the three and six month periods ended June 30, 2021, are primarily driven by improved annual forecasted results, the effects of certain statutory non-deductible expenses including disallowed executive compensation and parking, and state and local income taxes. The differences between the effective tax rates and the federal statutory rate of 21.0% for the three and six month periods ended June 30, 2020 primarily relate to state and local income taxes and the effect of certain statutory non-deductible expenses. The Company recognizes the benefits of deferred tax assets only as its assessment indicates that it is more likely than not that the deferred tax assets will be recognized in accordance with ASC Topic 740, Income Taxes ("ASC 740"). The Company reviews the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to utilize existing deferred tax assets. As of June 30, 2021, the Company has not recorded a valuation allowance since the Company continues to believe, on the basis of its evaluation, that its deferred tax assets meet the more likely than not recognition standard for recovery. The Company will continue to monitor the valuation of deferred tax assets, which requires judgment in assessing the likely future tax consequences of events that are recognized in the Company's financial statements or tax returns as well as judgment in projecting future profitability.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock Pursuant to the Company’s amended and restated certificate of incorporation, the Company is authorized to issue an aggregate of 300,000,000 shares of stock divided into three classes consisting of: (i) 100,000,000 shares of new Class A common stock; (ii) 100,000,000 shares of new Class B common stock; and (iii) 100,000,000 shares of preferred stock. As of June 30, 2021, the Company had 20,712,454 aggregate issued shares of common stock, and 20,485,795 outstanding shares consisting of: (i) 18,672,302 issued shares and 18,445,643 outstanding shares designated as Class A common stock; and (ii) 2,040,152 issued and outstanding shares designated as Class B common stock. Shareholder Rights Plan On May 20, 2020, our Board adopted a rights plan and declared a dividend of (a) one Class A right (a "Class A Right") in respect of each share of the Company's Class A common stock, par value $0.0000001 per share (the "Class A Common Shares"), (b) one Class B right (a "Class B Right") in respect of each share of the Company's Class B common stock, par value $0.0000001 per share (the "Class B Common Shares" and together with the Class A Common Shares, the "Common Shares"), (c) one Series 1 warrant right (a "Series 1 Warrant Right") in respect of each of the Company's Series 1 warrants (the "Series 1 Warrants"), and (d) one Series 2 warrant right (a "Series 2 Warrant Right," and together with the Class A Rights, the Class B Rights and the Series 1 Warrant Rights, the "Rights") in respect of each of the Company's Series 2 warrants (the "Series 2 Warrants," and together with the Series 1 Warrants, the "Warrants"). The dividend distribution was made on June 1, 2020 to the Company's stockholders and Warrant holders of record on that date. The Rights were not initially exercisable and traded with the shares of the Company’s common stock. The Rights expired, with no rights having become exercisable, in accordance with their terms at the close of business on April 30, 2021.

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Loss Per Share	Loss Per ShareThe Company calculates basic loss per share by dividing net loss by the weighted average number of common shares outstanding, excluding unvested restricted shares. The Company calculates diluted loss per share by dividing net loss by the weighted average number of common shares outstanding plus the dilutive effect of all outstanding share-based awards, including stock options and restricted stock awards. Warrants generally are included in basic and diluted shares outstanding because there is little or no consideration paid upon exercise of the Warrants. For the three and six months ended June 30, 2021, due to the net loss attributable to the Company common stockholders, potential common shares that would cause dilution, such as employee stock options, restricted shares and other stock awards, have been excluded from the diluted share count because their effect would have been anti-dilutive. The Company applies the two-class method to calculate loss per share. Because both classes share the same rights in dividends and losses, loss per share (basic and diluted) is the same for both classes. The following table presents the basic and diluted loss per share, and the reconciliation of basic to diluted weighted average common shares (in thousands): Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Basic Loss Per Share Numerator: Undistributed net loss from operations $ (5,891) $ (36,316) Basic net loss attributable to common shares $ (5,891) $ (36,316) Denominator: Basic weighted average shares outstanding 20,475 20,333 Basic undistributed net loss per share attributable to common shares $ (0.29) $ (1.79) Diluted Loss Per Share Numerator: Undistributed net loss from operations $ (5,891) $ (36,316) Diluted net loss attributable to common shares $ (5,891) $ (36,316) Denominator: Basic weighted average shares outstanding 20,475 20,333 Diluted weighted average shares outstanding 20,475 20,333 Diluted undistributed net loss per share attributable to common shares $ (0.29) $ (1.79) Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Basic Loss Per Share Numerator: Undistributed net loss from operations $ (27,809) $ (43,667) Basic net loss attributable to common shares $ (27,809) $ (43,667) Denominator: Basic weighted average shares outstanding 20,448 20,279 Basic undistributed net loss per share attributable to common shares $ (1.36) $ (2.15) Diluted Loss Per Share Numerator: Undistributed net loss from operations $ (27,809) $ (43,667) Diluted net loss attributable to common shares $ (27,809) $ (43,667) Denominator: Basic weighted average shares outstanding 20,448 20,279 Diluted weighted average shares outstanding 20,448 20,279 Diluted undistributed net loss per share attributable to common shares $ (1.36) $ (2.15)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Future Commitments The radio broadcast industry’s principal ratings service is Nielsen Audio ("Nielsen"), which publishes surveys for domestic radio markets. Certain of the Company’s subsidiaries have agreements with Nielsen under which they receive programming ratings information. The remaining aggregate obligation under the agreements with Nielsen is approximately $71.4 million as of June 30, 2021 and is expected to be paid in accordance with the agreements through December 2022. 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, 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 content and to pay for talent, executives, research, weather and traffic information and other content and 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. As of June 30, 2021, the Company believes that it will meet all such material minimum obligations. Legal Proceedings We have been, and expect in the future to be, a party to various legal proceedings, investigations or claims. In accordance with applicable accounting guidance, we record accruals for certain of our outstanding legal proceedings when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. We evaluate, at least on a quarterly basis, developments in our legal proceedings or other claims that could affect the amount of any accrual, as well as any developments that would result in a loss contingency to become both probable and reasonably estimable. When a loss contingency is not both probable and reasonably estimable, we do not record a loss accrual. If the loss (or an additional loss in excess of any prior accrual) is reasonably possible and material, we disclose an estimate of the possible loss or range of loss, if such estimate can be made. The assessment of whether a loss is probable or reasonably possible and whether the loss or a range of loss is estimable, involves a series of judgments about future events, which are often complex. Even if a loss is reasonably possible, we may not be able to estimate a range of possible loss, particularly where (i) the damages sought are substantial or indeterminate, (ii) the proceedings are in the early stages, (iii) the matters involve novel or unsettled legal theories or a large number of parties, or (iv) various factors outside of our control could lead to vastly different outcomes. In such cases, there is considerable uncertainty regarding the ultimate resolution of such matters, including the amount of any possible loss. In August 2015, the Company was named as a defendant in two separate putative class action lawsuits relating to its 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 U.S. 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 U.S. District Court for the Southern District of New York and claimed, 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, 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. As a result of that case (to which Cumulus Media Inc. was not a party) the New York case against Cumulus Media Inc., was voluntarily dismissed by the plaintiffs on April 3, 2017. On October 11, 2018, President Trump signed the Orrin G. Hatch-Bob Goodlatte Music Modernization Act (the "Music Modernization Act") into law, which, among other things, provides new federal rights going forward for owners of pre-1972 Recordings. The question of whether public performance rights existed for Pre-1972 recordings under state law prior to the enactment of the new Music Modernization Act is still being litigated in the Ninth Circuit as a result of a case filed in California. The Company is not a party to that case, and is not yet able to determine what effect that proceeding will have, if any, on its financial position, results of operations or cash flows. On February 24, 2020, two individual plaintiffs filed a putative class action lawsuit against the Company in the U.S. District Court for the Northern District of Georgia alleging claims regarding the Cumulus Media Inc. 401(k) Plan (the "Plan"). The case alleges that the Company breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) in the oversight of the Plan, principally by selecting and retaining certain investment options despite their higher fees and costs than other available investment options, causing participants in the Plan to pay excessive recordkeeping fees, and by failing to monitor other fiduciaries. The plaintiffs seek unspecified damages on behalf of a class of Plan participants from February 24, 2014 through the date of any judgment. On May 28, 2020, the Company filed a motion to dismiss the complaint. On December 17, 2020 the Court entered an order dismissing one of the individual plaintiffs and all claims against the Company except those that arose on or after February 24, 2019 (i.e., one year prior to the filing of the Complaint). On March 24, 2021, the Company filed a motion seeking dismissal of all remaining claims. The Company intends to continue to defend the case vigorously. The Company is currently unable to reasonably estimate what effect the ultimate outcome might have, if any, on its financial position, results of operations or cash flows.

Nature of Business, Interim F_2

Nature of Business, Interim Financial Data and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Cumulus Media Inc. (and its consolidated subsidiaries, except as the context may otherwise require, "CUMULUS MEDIA," "we," "us," "our," or the "Company") is a Delaware corporation, organized in 2018, and successor to a Delaware corporation with the same name that had been organized in 2002.
Basis of Presentation	Basis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company has one reportable segment and presents the comparative periods on a consolidated basis to reflect the one reportable segment. In the opinion of management, the Company's unaudited Condensed Consolidated Financial Statements include all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented herein. The accompanying condensed consolidated balance sheet as of December 31, 2020, was derived from the Company’s audited financial statements as of December 31, 2020, and our accompanying unaudited Condensed Consolidated Financial Statements as of June 30, 2021 and for the periods ended June 30, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. The financial condition and results for the interim periods are not necessarily indicative of those that may be expected for any future interim period or for the full year. The unaudited Condensed Consolidated Financial Statements herein should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including significant estimates related to bad debts, intangible assets, income taxes, stock-based compensation, contingencies, litigation, valuation assumptions for impairment analysis, certain expense accruals, leases and, if applicable, purchase price allocations. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. We assessed these aforementioned estimates and judgments utilizing information reasonably available to us and considering the unknown future impacts of the novel coronavirus disease ("COVID-19") pandemic. The business and economic uncertainty resulting from the COVID-19 pandemic has made such estimates and assumptions more difficult to calculate. While there was not a material impact to our key estimates as of and for the quarter ended June 30, 2021, our estimates may change based on the magnitude and duration of COVID-19, as well as other factors. Actual amounts and results may differ materially from these estimates.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss and certain items that are excluded from net loss and recorded as a separate component of stockholders' equity. During the six months ended June 30, 2021 and 2020, the Company had no items of other comprehensive loss and, therefore, comprehensive loss does not differ from reported net loss.
Assets Held for Sale	Assets Held for Sale Long-lived assets to be sold are classified as held for sale in the period in which they meet all the criteria for the disposal of long-lived assets. The Company measures assets held for sale at the lower of their carrying amount or fair value less cost to sell. On June 10, 2021, the Company entered into an agreement to sell certain land, a single-story building and certain related equipment in the Company's Nashville, TN market ("Nashville Sale") to a third party. The transaction closed on August 2, 2021. The assets held for sale financial statement line item of the Company’s Condensed Consolidated Balance Sheet is primarily composed of the Nashville Sale. As of June 30, 2021, assets held for sale was $13.0 million. As of December 31, 2020, the Company had no assets held for sale. Tower Sale The Company completed the final closing with Vertical Bridge REIT, LLC for the sale of substantially all of the Company's broadcast communications tower sites and certain other related assets (the "Tower Sale") on June 30, 2021, for net proceeds of $2.6 million. In connection with the Tower Sale, the Company will be entering into individual site leases for the continued use of substantially all of the assets that were included in the Tower Sale. As the terms of the Tower Sale arrangement contain a repurchase option, the leaseback was not accounted for as a sale. The carrying amount of the leased back assets will remain on the Company's books and continue to be depreciated over their remaining useful lives. The proceeds received for the leased back assets have been recorded as a financing liability .
Recent Accounting Standards Updates	Recent Accounting Standards Updates ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326) ("ASU 2016-13"). In June 2016, the FASB issued ASU 2016-13 which requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of "probable" has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset's origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard was effective for public business entities, excluding Smaller Reporting Companies ("SRC"), for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The standard is effective for SRCs for fiscal years beginning after December 15, 2022. Early adoption is permitted

Nature of Business, Interim F_3

Nature of Business, Interim Financial Data and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Cash Flow Statement	The following summarizes supplemental cash flow information to be read in conjunction with the unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 June 30, 2020 Supplemental disclosures of cash flow information: Interest paid $ 31,876 $ 30,598 Income taxes paid (refunded) 5,480 (202) Supplemental disclosures of non-cash flow information: Trade revenue $ 18,777 $ 14,921 Trade expense 18,479 14,172 Noncash principal change in financing liabilities (22) 410

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents revenues disaggregated by revenue source (dollars in thousands): Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Advertising revenues $ 220,764 $ 142,873 Non-advertising revenues 3,954 3,149 Total revenue $ 224,718 $ 146,022 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Advertising revenues $ 417,200 $ 367,413 Non-advertising revenues 9,246 6,523 Total revenue $ 426,446 $ 373,936

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of June 30, 2021 and December 31, 2020 are as follows (dollars in thousands): Indefinite-Lived Definite-Lived Total Gross Carrying Amount Trademarks Affiliate and producer relationships Broadcast advertising Tower income contracts Other Balance as of December 31, 2020 $ 825,590 $ 19,760 $ 130,000 $ 32,000 $ 13,592 $ 11,060 $ 1,032,002 Assets held for sale (680) — — — — — (680) Dispositions (746) (5) — — (5) (4) (760) Balance as of June 30, 2021 $ 824,164 $ 19,755 $ 130,000 $ 32,000 $ 13,587 $ 11,056 $ 1,030,562 Accumulated Amortization Balance as of December 31, 2020 $ — $ — $ (30,530) $ (16,533) $ (3,902) $ (11,060) $ (62,025) Amortization Expense — — (5,909) (3,200) (755) — (9,864) Dispositions — — — — 1 4 5 Balance as of June 30, 2021 $ — $ — $ (36,439) $ (19,733) $ (4,656) $ (11,056) $ (71,884) Net Book Value as of June 30, 2021 $ 824,164 $ 19,755 $ 93,561 $ 12,267 $ 8,931 $ — $ 958,678
Schedule of Finite-Lived Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of June 30, 2021 and December 31, 2020 are as follows (dollars in thousands): Indefinite-Lived Definite-Lived Total Gross Carrying Amount Trademarks Affiliate and producer relationships Broadcast advertising Tower income contracts Other Balance as of December 31, 2020 $ 825,590 $ 19,760 $ 130,000 $ 32,000 $ 13,592 $ 11,060 $ 1,032,002 Assets held for sale (680) — — — — — (680) Dispositions (746) (5) — — (5) (4) (760) Balance as of June 30, 2021 $ 824,164 $ 19,755 $ 130,000 $ 32,000 $ 13,587 $ 11,056 $ 1,030,562 Accumulated Amortization Balance as of December 31, 2020 $ — $ — $ (30,530) $ (16,533) $ (3,902) $ (11,060) $ (62,025) Amortization Expense — — (5,909) (3,200) (755) — (9,864) Dispositions — — — — 1 4 5 Balance as of June 30, 2021 $ — $ — $ (36,439) $ (19,733) $ (4,656) $ (11,056) $ (71,884) Net Book Value as of June 30, 2021 $ 824,164 $ 19,755 $ 93,561 $ 12,267 $ 8,931 $ — $ 958,678

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Components of Long-term Debt	The Company’s long-term debt consisted of the following as of June 30, 2021 and December 31, 2020 (dollars in thousands): June 30, 2021 December 31, 2020 Term Loan due 2026 $ 356,240 $ 469,411 Less: current portion of Term Loan due 2026 — (5,250) 6.75% Senior Notes 449,695 452,836 2020 Revolving Credit Facility — 60,000 PPP Loans 20,000 — Less: Total unamortized debt issuance costs (7,689) (9,336) Long-term debt, net $ 818,246 $ 967,661

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Gross Amounts and Fair Value	The following table shows the gross amount and fair value of the Term Loan due 2026 and 6.75% Senior Notes (dollars in thousands): June 30, 2021 December 31, 2020 Term Loan due 2026: Gross value $ 356,240 $ 469,411 Fair value - Level 2 357,131 460,023 6.75% Senior Notes: Gross value $ 449,695 $ 452,836 Fair value - Level 2 469,931 464,157

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Common Share	The following table presents the basic and diluted loss per share, and the reconciliation of basic to diluted weighted average common shares (in thousands): Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Basic Loss Per Share Numerator: Undistributed net loss from operations $ (5,891) $ (36,316) Basic net loss attributable to common shares $ (5,891) $ (36,316) Denominator: Basic weighted average shares outstanding 20,475 20,333 Basic undistributed net loss per share attributable to common shares $ (0.29) $ (1.79) Diluted Loss Per Share Numerator: Undistributed net loss from operations $ (5,891) $ (36,316) Diluted net loss attributable to common shares $ (5,891) $ (36,316) Denominator: Basic weighted average shares outstanding 20,475 20,333 Diluted weighted average shares outstanding 20,475 20,333 Diluted undistributed net loss per share attributable to common shares $ (0.29) $ (1.79) Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Basic Loss Per Share Numerator: Undistributed net loss from operations $ (27,809) $ (43,667) Basic net loss attributable to common shares $ (27,809) $ (43,667) Denominator: Basic weighted average shares outstanding 20,448 20,279 Basic undistributed net loss per share attributable to common shares $ (1.36) $ (2.15) Diluted Loss Per Share Numerator: Undistributed net loss from operations $ (27,809) $ (43,667) Diluted net loss attributable to common shares $ (27,809) $ (43,667) Denominator: Basic weighted average shares outstanding 20,448 20,279 Diluted weighted average shares outstanding 20,448 20,279 Diluted undistributed net loss per share attributable to common shares $ (1.36) $ (2.15)

Nature of Business, Interim F_4

Nature of Business, Interim Financial Data and Basis of Presentation (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021USD ($)segmentmarketstationaffiliate	Dec. 31, 2020USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of owned-and-operated stations | station	413
Number of markets | market	86
Number of affiliate stations | affiliate	7,300
Number of reportable segments | segment	1
Assets held for sale	$ 13,000,000	$ 0
Proceeds from divestiture of businesses	$ 2,600,000

Nature of Business, Basis of Pr

Nature of Business, Basis of Presentation and Summary of Significant Accounting Policies (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental disclosures of cash flow information:
Interest paid	$ 31,876	$ 30,598
Income taxes paid (refunded)	5,480	(202)
Supplemental disclosures of non-cash flow information:
Trade revenue	18,777	14,921
Trade expense	18,479	14,172
Noncash principal change in financing liabilities	$ (22)	$ 410

Revenues (Disaggregated by Reve

Revenues (Disaggregated by Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 224,718	$ 146,022	$ 426,446	$ 373,936
Advertising revenues (broadcast, digital, non-traditional revenue (NTR) and trade)
Disaggregation of Revenue [Line Items]
Revenue	220,764	142,873	417,200	367,413
Non-advertising revenues (tower rental and other)
Disaggregation of Revenue [Line Items]
Revenue	$ 3,954	$ 3,149	$ 9,246	$ 6,523

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net revenue	$ 224,718	$ 146,022	$ 426,446	$ 373,936
Trade revenue			18,777	14,921
Trade expense			18,479	14,172
Asset related to unamortized portion of commission expense	5,700		$ 5,700		$ 5,800
Advertising Barter Transactions
Disaggregation of Revenue [Line Items]
Net revenue	8,500	5,800		14,900
Other expenses	$ 8,900	$ 6,100		$ 14,200

Intangible Assets (Gross Carryi

Intangible Assets (Gross Carrying Amount and Accumulated Amortization) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Finite-Lived Intangible Assets, Accumulated Amortization Activity [Roll Forward]
Accumulated Amortization, beginning balance	$ (62,025)
Amortization Expense	(9,864)
Dispositions	5
Accumulated amortization, ending balance	(71,884)
Intangible Assets Activity [Roll Forward]
Beginning balance	1,032,002
Assets held for sale	(680)
Dispositions	(760)
Ending balance	1,030,562
Net Book Value	958,678
FCC licenses
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	825,590
Assets held for sale	(680)
Dispositions	(746)
Ending balance	824,164
Net Book Value	824,164
Trademarks
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	19,760
Assets held for sale	0
Dispositions	(5)
Ending balance	19,755
Net Book Value	19,755
Affiliate and producer relationships
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	130,000
Assets held for sale	0
Dispositions	0
Ending balance	130,000
Finite-Lived Intangible Assets, Accumulated Amortization Activity [Roll Forward]
Accumulated Amortization, beginning balance	(30,530)
Amortization Expense	(5,909)
Dispositions	0
Accumulated amortization, ending balance	(36,439)
Net Book Value	93,561
Broadcast advertising
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	32,000
Assets held for sale	0
Dispositions	0
Ending balance	32,000
Finite-Lived Intangible Assets, Accumulated Amortization Activity [Roll Forward]
Accumulated Amortization, beginning balance	(16,533)
Amortization Expense	(3,200)
Dispositions	0
Accumulated amortization, ending balance	(19,733)
Net Book Value	12,267
Tower income contracts
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	13,592
Assets held for sale	0
Dispositions	(5)
Ending balance	13,587
Finite-Lived Intangible Assets, Accumulated Amortization Activity [Roll Forward]
Accumulated Amortization, beginning balance	(3,902)
Amortization Expense	(755)
Dispositions	1
Accumulated amortization, ending balance	(4,656)
Net Book Value	8,931
Other
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	11,060
Assets held for sale	0
Dispositions	(4)
Ending balance	11,056
Finite-Lived Intangible Assets, Accumulated Amortization Activity [Roll Forward]
Accumulated Amortization, beginning balance	(11,060)
Amortization Expense	0
Dispositions	4
Accumulated amortization, ending balance	(11,056)
Net Book Value	$ 0

Long-Term Debt (Schedule of Deb

Long-Term Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
PPP Loans	$ 20,000	$ 0
Less: Total unamortized debt issuance costs	(7,689)	(9,336)
Long-term debt, net	818,246	967,661
Term Loan due 2026
Debt Instrument [Line Items]
Long-term debt, gross	356,240	469,411
Less: current portion	0	(5,250)
6.75% Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 449,695	$ 452,836
Stated rate	0.0675%	0.0675%
2020 Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 60,000
PPP Loans
Debt Instrument [Line Items]
PPP Loans		$ 0

Long-Term Debt (Refinanced Cred

Long-Term Debt (Refinanced Credit Agreement (Term Loan due 2026)) (Details) - USD ($) $ in Thousands	May 25, 2021	Nov. 03, 2020	Sep. 30, 2020	Sep. 26, 2019	May 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term line of credit						$ 0	$ 60,000
6.75% Senior Notes
Debt Instrument [Line Items]
Stated rate						0.0675%	0.0675%
Write-off		$ 600
Outstanding Long-term loan						$ 449,695	$ 452,836
Term Loan due 2026
Debt Instrument [Line Items]
Outstanding Long-term loan						$ 356,240	$ 469,411
Tower Sale | 6.75% Senior Notes
Debt Instrument [Line Items]
Repayments of debt					$ 26,000
Term Loan Due 2026
Debt Instrument [Line Items]
Long-term line of credit				$ 525,000
Basis spread on variable rate				1.00%
Stated rate						4.75%
Amortization of outstanding loan principal amount, quarterly installment				0.25%
Debt discounts and issuance costs						$ 5,100
Repayments of debt	$ 89,000		$ 49,000
Write-off			$ 400			$ 900
Term Loan Due 2026 | 6.75% Senior Notes
Debt Instrument [Line Items]
Repayments of debt					$ 23,000
Term Loan Due 2026 | Land Sale
Debt Instrument [Line Items]
Repayments of debt	65,000
Term Loan Due 2026 | Tower Sale
Debt Instrument [Line Items]
Repayments of debt	$ 23,000
Term Loan Due 2026 | London Interbank Offered Rate
Debt Instrument [Line Items]
Basis spread on variable rate				3.75%
Term Loan Due 2026 | London Interbank Offered Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Term Loan Due 2026 | Alternative Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate				2.75%
Term Loan Due 2026 | Alternative Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				2.00%
Term Loan Due 2026 | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%

Long-Term Debt (2020 Revolving

Long-Term Debt (2020 Revolving Credit Agreement) (Details) - USD ($)	May 17, 2021	Mar. 06, 2020	Jun. 30, 2021
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100,000,000
Borrowing base		85.00%
Unused capacity, commitment fee rate		0.25%
Debt instrument, unamortized discount			$ 600,000
Debt discounts and issuance costs			400,000
Repayments of debt	$ 60,000,000
Letters of credit outstanding			$ 4,300,000
Revolving Credit Facility | Alternative Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000
Swing Line Loans
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000

Long-Term Debt (6.75% Senior No

Long-Term Debt (6.75% Senior Notes) (Details) - USD ($)	Jun. 23, 2021	May 25, 2021	Nov. 03, 2020	Sep. 30, 2020	May 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 26, 2019
Debt Instrument [Line Items]
Senior note outstanding						$ 444,660,000	$ 447,350,000
Term Loan Due 2026
Debt Instrument [Line Items]
Stated rate						4.75%
Repayments of debt		$ 89,000,000		$ 49,000,000
Write-off				$ 400,000		$ 900,000
Tower Sale | Term Loan Due 2026
Debt Instrument [Line Items]
Repayments of debt		$ 23,000,000
6.75% Senior Notes
Debt Instrument [Line Items]
Stated rate						0.0675%	0.0675%
Debt instrument, face amount								$ 500,000,000
Write-off			$ 600,000
6.75% Senior Notes | Term Loan Due 2026
Debt Instrument [Line Items]
Repayments of debt					$ 23,000,000
6.75% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Stated rate						6.75%		6.75%
Debt issuance costs								$ 7,300,000
Repayments of debt	$ 3,000,000		$ 47,200,000
Senior note outstanding						$ 450,000,000
6.75% Senior Notes | Tower Sale
Debt Instrument [Line Items]
Repayments of debt					$ 26,000,000

Long-Term Debt (Paycheck Protec

Long-Term Debt (Paycheck Protection Program) (Details) - Paycheck Protection Program - USD ($) $ in Millions	Apr. 01, 2021	Mar. 31, 2021
Line of Credit Facility [Line Items]
Unsecured Debt	$ 18.3	$ 20
Stated rate		1.00%

Fair Value Measurements (Gross

Fair Value Measurements (Gross Amounts and Fair Value of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 26, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross value	$ 818,246	$ 967,661
Term Loan Due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross value	356,240	469,411
6.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross value	$ 449,695	$ 452,836
6.75% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated rate	6.75%	6.75%
Fair value - Level 2 | Term Loan Due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	$ 357,131	$ 460,023
Fair value - Level 2 | 6.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	$ 469,931	$ 464,157
6.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated rate	0.0675%	0.0675%
6.75% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated rate	6.75%		6.75%

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	Jun. 30, 2021	Dec. 31, 2020
Term Loan Due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading prices rate to calculate the fair value	100.30%	98.00%
6.75% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading prices rate to calculate the fair value	104.50%	102.50%
6.75% Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated rate	6.75%	6.75%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax (expense) benefit	$ (739)	$ 11,973	$ 3,611	$ 13,522
Income (loss) before income taxes	$ 5,152	$ 48,289	$ 31,420	$ 57,189
Effective tax rate	(14.30%)	24.80%	11.50%	23.60%

Stockholders' Equity (Details)

Stockholders' Equity (Details)	May 20, 2020$ / shares	Jun. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Class of Stock [Line Items]
Stock shares authorized (in shares)		300,000,000
Preferred stock, shares authorized (in shares)		100,000,000
Common stock, shares issued (in shares)		20,712,454
Common stock, shares outstanding (in shares)		20,485,795
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		100,000,000	100,000,000
Common stock, shares issued (in shares)		18,672,302	18,135,956
Common stock, shares outstanding (in shares)		18,445,643	17,961,734
Common stock, par value (usd per share) | $ / shares	$ 0.00	$ 0.00	$ 0.00
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		100,000,000	100,000,000
Common stock, shares issued (in shares)		2,040,152	2,416,253
Common stock, shares outstanding (in shares)		2,040,152	2,416,253
Common stock, par value (usd per share) | $ / shares	$ 0.00	$ 0.00	$ 0.00
Class A Right
Class of Stock [Line Items]
Conversion ratio	1
Class B Right
Class of Stock [Line Items]
Conversion ratio	1
Series 1 Warrant Right
Class of Stock [Line Items]
Conversion ratio	1
Series 2 Warrant Right
Class of Stock [Line Items]
Conversion ratio	1

(Loss) Earnings Per Share (Deta

(Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic Loss Per Share
Undistributed net loss from operations	$ (5,891)	$ (36,316)	$ (27,809)	$ (43,667)
Basic net loss attributable to common shares	$ (5,891)	$ (36,316)	$ (27,809)	$ (43,667)
Basic weighted average shares outstanding (in shares)	20,475,348	20,332,970	20,447,553	20,279,022
Basic undistributed net loss per share attributable to common shares (USD per share)	$ (0.29)	$ (1.79)	$ (1.36)	$ (2.15)
Diluted Loss Per Share
Undistributed net loss from operations	$ (5,891)	$ (36,316)	$ (27,809)	$ (43,667)
Diluted net loss attributable to common shares	$ (5,891)	$ (36,316)	$ (27,809)	$ (43,667)
Basic weighted average shares outstanding (in shares)	20,475,348	20,332,970	20,447,553	20,279,022
Diluted weighted average shares outstanding (in shares)	20,475,348	20,332,970	20,447,553	20,279,022
Diluted undistributed net loss per share attributable to common shares (USD per share)	$ (0.29)	$ (1.79)	$ (1.36)	$ (2.15)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining aggregate obligation under the agreements with Nielsen Audio	$ 71.4