Cumulus Media Inc. Appoints New Directors, CEO Employment Agreement
Ticker: CMLSQ · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1058623
| Field | Detail |
|---|---|
| Company | Cumulus Media Inc (CMLSQ) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
Cumulus Media adds two directors and signs new CEO employment deal.
AI Summary
Cumulus Media Inc. announced on January 22, 2025, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Brian M. Baker and David L. Rone, to its Board, effective immediately. Additionally, the company entered into new employment agreements with certain executive officers, including a new employment agreement with its Chief Executive Officer, Mary G. Berner.
Why It Matters
Changes in board composition and executive employment agreements can signal shifts in company strategy, leadership stability, and future executive compensation plans.
Risk Assessment
Risk Level: medium — Changes in board and executive roles can indicate internal shifts that may impact future performance and strategy.
Key Players & Entities
- Cumulus Media Inc. (company) — Registrant
- Brian M. Baker (person) — Newly elected director
- David L. Rone (person) — Newly elected director
- Mary G. Berner (person) — Chief Executive Officer
- January 22, 2025 (date) — Effective date of board changes and reporting date
FAQ
Who were the new directors appointed to Cumulus Media's Board?
Brian M. Baker and David L. Rone were elected as new directors to the Board of Cumulus Media Inc.
When were these board changes effective?
The election of Brian M. Baker and David L. Rone was effective immediately as of January 22, 2025.
What other significant event was reported on January 22, 2025?
Cumulus Media Inc. also reported entering into new employment agreements with certain executive officers, including its CEO, Mary G. Berner.
What is the principal executive office address for Cumulus Media Inc.?
The principal executive offices are located at 780 Johnson Ferry Road NE, Suite 500, Atlanta, GA 30342.
What is the SIC code for Cumulus Media Inc.?
The Standard Industrial Classification (SIC) code for Cumulus Media Inc. is 4832, which corresponds to Radio Broadcasting Stations.
Filing Stats: 773 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2025-01-22 16:01:14
Filing Documents
- cmls-20250122.htm (8-K) — 32KB
- cmlsappointstopmajorshareh.htm (EX-99.1) — 7KB
- image_0.jpg (GRAPHIC) — 25KB
- 0001058623-25-000004.txt ( ) — 236KB
- cmls-20250122.xsd (EX-101.SCH) — 3KB
- cmls-20250122_def.xml (EX-101.DEF) — 7KB
- cmls-20250122_lab.xml (EX-101.LAB) — 28KB
- cmls-20250122_pre.xml (EX-101.PRE) — 18KB
- cmls-20250122_htm.xml (XML) — 4KB
01 - Regulation FD Disclosure
Item 7.01 - Regulation FD Disclosure. On January 22, 2025, the Company issued a press release announcing the appointment of Mr. Galbraith to the Board, as described under Item 5.02, above. A copy of the press release is attached as Exhibit 99.1 to this Current Report. The information included in Exhibit 99.1 is being "furnished" and shall not be deemed "filed" for purposes of Section 18 of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be incorporated by reference in any filing under the U.S. Securities Act of 1933, as amended, or the Exchange Act.
01 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated January 22, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Cumulus Media Inc. By: /s/ Francisco J. Lopez-Balboa Name: Francisco J. Lopez-Balboa Title: Executive Vice President, Chief Financial Officer Date: January 22, 2025