Radio Giant Cumulus Files for Bankruptcy
December 11, 2017
Atlanta-based radio giant Cumulus Media has filed to reorganize in Chapter 11 bankruptcy, with $2.4 billion in debt. It has reached an agreement with 69% of its term loan holders.
Cumulus’ pre-packaged restructuring agreement with lenders will reduce the company’s debt by more than $1 billion. The filing took place at United States Bankruptcy Court for the Southern District of New York.
Read more at: http://variety.com/2017/music/news/radio-cumulus-media-files-bankruptcy-chapter-11-1202626609/
Get the Media Source Newsletter on your smartphone or tablet now!
 |
iphone |
 |
Android |
Ken Ham’s new book, Gospel Reset, has been sent as a mass mailing to 266,000 American churches, along with complimentary tickets for church leaders to visit the three leading world-class Christian themed attractions in the US.
Posted on September 20, 2018The verses from Paul's letter to the Ephesians were broadcast on radio and Flemish TV station VRT...
Posted on September 19, 2018Evangelist and humanitarian Franklin Graham says the sexual assault allegation against Supreme Court nominee Brett Kavanaugh is irrelevant.
Posted on September 19, 2018The Recording Industry Association of America Tuesday (Sept. 18) praised Senate passage of the Music Modernization Act...
Posted on September 19, 2018
