ATLANTA, June 12, 2019 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS), announced today that Cumulus Media New Holdings Inc., its indirect wholly owned subsidiary, has priced $500 million in aggregate principal amount of 6.750% senior secured first-lien notes due 2026. This represents an increase of $200 million over the amount previously announced. The sale of the Notes is expected to close on June 26, 2019, subject to customary closing conditions. The Issuer expects to use the net proceeds of the offering to partially repay existing indebtedness under its senior secured term loan facility.

About Cumulus Media

A leader in the radio broadcasting industry, Cumulus Media Inc. (NASDAQ: CMLS) combines high quality local programming with iconic, nationally syndicated media, sports, and entertainment brands to deliver premium content choices to the more than 250 million people reached each month through its 428 owned-and-operated stations broadcasting in 87 U.S. media markets (including eight of the top 10), approximately 8,000 broadcast radio stations affiliated with its Westwood One network and numerous digital channels. Together, the Cumulus Radio Station Group and Westwood One platforms make Cumulus one of the few media companies that can provide advertisers with national reach and local impact. The Cumulus Radio Station Group and Westwood One are the exclusive radio broadcast partners to some of the largest brands in sports, entertainment, news, and talk, including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYs, the Academy of Country Music Awards, the Billboard Music Awards, and more. Additionally, it is the nation's leading provider of country music and lifestyle content through its NASH brand, which serves country fans nationwide through radio programming, exclusive digital content, and live events. For more information, visit www.cumulusmedia.com.