The final paperwork continues for Cumulus to emerge from Chapter 11 bankruptcy and erase half of its $2 billion in debt. A 148 page document has been file by U.S. Bankruptcy Judge Shelley Chapman confirming Cumulus’ reorganization plan. Chapman writes that the plan is “approved and Cumulus is authorized to implement their provisions and consummate the plan without any further authorization by the Bankruptcy Court.” The document filed by the court states that the confirmation order is a final order and the period in which an appeal must be filed will commence upon entry of this order.”
