CUMULUS MEDIA INC. (NASDAQ:CMLS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 – Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 8, 2017, and in accordance with the Listing Rules of The NASDAQ Stock Market LLC (“NASDAQ”), Cumulus Media Inc. (the “Company”) filed an appeal of the September 1, 2017 notification (the “Notice”) the Company received from the Listing Qualifications Department of NASDAQ relating to the Company’s previously disclosed failure to comply with the minimum stockholders’ equity requirement contained in NASDAQ Listing Rule 5550(b)(1) (the “Rule”).

Had the Company not filed the appeal, the Notice provided that trading in the Company’s Class A common stock on NASDAQ would have been suspended on September 11, 2017, and the Class A common stock would have thereafter been removed from listing on NASDAQ. In accordance with the NASDAQ Listing Rules, the Company’s Class A common stock will continue to trade on the Nasdaq Capital Market while the appeal is pending. There can be no assurance that the Company will be successful in its appeal and that the NASDAQ hearing panel will grant the Company’s request for an extension of time to regain compliance with the Rule. If the Company is unsuccessful in its appeal, or it is not able to regain compliance with the Rule within any extension of time granted by the NASDAQ hearing panel, the Company expects that trading in its Class A common stock on the NASDAQ Capital Market would thereafter be suspended and the stock would be removed from listing on NASDAQ.

About CUMULUS MEDIA INC. (NASDAQ:CMLS)

Cumulus Media Inc. (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees. Its broadcast advertising includes the sale of commercial advertising time to local, national and network clients. Its digital advertising includes the sale of advertising and promotional opportunities across its Websites and mobile applications. Its across the nation platform generates content distributable through both broadcast and digital platforms. Its categories of advertisers consist of amusement and recreation; banking and mortgage; furniture and home furnishings; arts and entertainment; food and beverage services; healthcare services; automotive dealers; food and beverage stores, and telecommunications.

CUMULUS MEDIA INC. (NASDAQ:CMLS) Recent Trading Information

CUMULUS MEDIA INC. (NASDAQ:CMLS) closed its last trading session down -0.002 at 0.390 with 71,301 shares trading hands.