Cumulus Q3 2017 Financials Released

Cumulus has reported Q3 2017 net revenues of $287 million, up .4 % from the same period last year. Net income was $1.3 million. Adjusted EBITDA was $61.8 million, up 40% from the same period last year. "Our strong third quarter performance plainly demonstrates that our operational turnaround plan is working," says Pres./CEO Mary Berner. "We are focused on addressing our excessive debt load on a parallel track to our operational turnaround plan. We are working with our advisors to proactively explore a range of alternatives to restructure our balance sheet, and continuing productive discussions with our creditors. Regardless of the path forward, we have ample cash to operate our business." More here.