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

 


Latest News

On Capitol Hill, it’s open season on religious beliefs

Apparently it’s now in vogue – if you’re a liberal senator – to question President Donald Trump’s nominees about their faith and religious beliefs.

Posted

Egypt Cabinet Legalizes 166 Unlicensed Church Properties

The Cabinet of Egypt has passed legislation that purports to legalize 166 church properties throughout the nation...

Posted

California Legislature Moving to Pass Super Net Neutrality

California Senate Bill SB 822 was passed out of Senate Energy, Utilities and Communications on an 8-3 vote this week...

Posted

Democratic FCC commissioner stepping down

A Democratic commissioner on the top U.S. telecommunications regulator said on Tuesday she is stepping down after more than eight years...

Posted

More News


Headlines