Cumulus Could be Out of Bankruptcy in Early May

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    A flurry of documents were filed with the bankruptcy court on Tuesday, including a schedule of trial dates that could lead to the confirmation of Cumulus’ bankruptcy filing. U.S. Bankruptcy Court Judge Shelley Chapman is overseeing Cumulus’ case, which began back in November of 2017. Trial dates to confirm the reorganization plan will begin Friday and continue on April 16, 17 and 18 with closing arguments scheduled for May 1. Cumulus is attempting to eliminate over $1 Billion in debt and has the support of its Term Loan Lenders which were owed over $1.73 Billion.

    4 COMMENTS

    1. There’s something inherently wrong about sneaking out of over $1 billion in debt because of poor management decisions, legally or not. I worked for Cumulus for 10 years, and watched them slash salaries, eliminate positions, and force people to take time off without pay in the interest of keeping the company breathing, while the Dickeys and the rest of the board were pulling multi-million dollar salaries out of the seemingly destitute company. “No worries! We’ll just file bankruptcy again and retire some more debt!” Consolidation has ruined this business.

    2. For me, they all can go to hell!! The Broadcasting Industry has became a corrupt MAFIA with the FCC working as their back yard DOG who does every thing the Big Guys Dictates them to do!

      For Example:
      The RULE SAYS that no broadcaster should own more then 7 stations per market, yet thanks to their stupid and corrupt RULES, The FCC allows the big broadcasters to USE Translators feed with DIGITAL SIGNALS to function as totally new Independent Radio stations in those already filled with 7 signals markets!! So, Ihearth Media, Cumulus, and others; now they all have more then 7 fully commercial signals per market clearly violating the FCC statues thanks to the stupid and Corrupt MAFIA called the BROADCASTERS, and their Pet, THE FCC!!!

      Rules, Loopholes, and Violations like this are all over the place always protecting the BIG GUYS! At the end, the American people is the one who suffers because when the Elite Controls 95% of our Radio Airwaves, We as people, we have a huge freedom of Speech Problem in our hands!!

      Solutions: DISSOLVE THE CORRUPT FCC!!! This Government’s Branch its so corrupt that only a major surgery in the form of a complete Dissolvent, may yield to start it from the ground up all over again!!

      NO TRANSLATOR MAY BE USED TO BROADCAST Another new format if the company who owns the FORMAT has already used their 7 Radio stations allowed by the FCC Rules!! PERIOD!!

      Those new translators may be sold, or leased to new Local Minorities, so they may have the right to Broadcast as well!!!

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