Cumulus Makes $50 Million Debt Payment


On Monday morning, Cumulus announced that it has made a $50 million voluntary debt prepayment as the company continues to reduce its leverage. The payment was funded by the net proceeds from the sale of KLOS-FM in Los Angeles to Meruelo Media, which closed lat week, as well as cash on hand generated from operations. With this payment, Cumulus has reduced debt by approximately $250 million since emerging from Chapter 11 on June 4, 2018. Cumulus’ debt is now $1.05 billion.


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