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.
"The connection that powers sports radio has never been the transmitter, the brand name on the building or the corporate strategy outlined in a quarterly earnings call. It’s the host behind the microphone building a daily relationship with an audience that chooses to spend time with them."
"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."
"There is so much new breaking news every day in the world of sports. It’s not playing ‘Stairway to Heaven’ again. Literally, every time you tune in there is something new going on."
"With our powerful brands and strong digital marketing service options, we have the ability to drive incredible results for our clients and I look forward to working with our talented team to do just that."
That injunction being lifted now allows Nielsen to re-enact its policy of joining national ratings with the purchase of local market data, at least temporarily.