Tag: Cumulus Bankruptcy
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Cumulus Media Wins Court Approval for Chapter 11 Bankruptcy Extension
The company now has until October 30th to file a reorganization plan and until December 29th to solicit acceptances.
Cumulus Receives Approval for Bankruptcy Restructuring
As part of the plan, the company will go private with its debt holders converting that debt into equity in the organization.
Cumulus Media Reports 10% Revenue Decline During 2025
"Looking ahead, we remain focused on building on the core strengths of the Company to maximize value."
Cumulus Media Reaches Agreement to Keep Mary Berner as CEO Post-Bankruptcy
Berner's base salary is set at $1.25 million annually, with a target bonus equal to 100% of her salary and a maximum payout of up to 200% depending on performance.
Radio Can Remain Relevant Through An Industry-Wide Personality Power Play
"While large, heavily leveraged groups struggle under debt, medium and smaller markets continue to thrive and serve their communities."
Cumulus Lawsuit Against Nielsen Due to Bankruptcy Filing
U.S. District Judge Jeannette Vargas issued the order Wednesday, ruling that the case must be paused under federal bankruptcy law.
What Advice News/Talk Radio PDs Would Give Cumulus Counterparts Following Bankruptcy Announcement
"It feels wrong to say 'just keep your head down and do what you always do,' but I would say just keep your head down and do what you always do."
What Does the Future Hold for Cumulus Following Chapter 11 Bankruptcy?
For employees, competitors, and industry watchers, the first reaction is understandable. Bankruptcy carries a stigma that’s hard to shake. In most industries, it historically meant failure and liquidation.
Cumulus Files for Prepackaged Chapter 11 Bankruptcy
"It became clear that Cumulus’s remaining debt burden limited our ability to fully realize the Company’s potential, and this agreement represents a major step forward."