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Back in early November, Cumulus CFO John Abbot said, "We have too much debt." He's been on the job for six months and has said Cumulus' debt problem is what he was spending the majority of his time on. Since she took over as CEO, Mary Berner has also stressed the importance of reducing debt. She's repeatedly pointed out that Cumulus' over-levered capital structure was "real and will continue to limit our turnaround potential.” So here's what Cumulus announced on Wednesday to reduce debt and extend debt maturity...

CNBC has a follow-up to its report that SiriusXM was interested in purchasing the company. CNBC's David Faber reported on Wednesday that Pandora is looking at potential acquirers beyond SiriusXM to give it leverage if SiriusXM does pursues a deal. Faber reported last week that the music streaming service was open to selling itself and was willing to engage with SiriusXM. MORE HERE

Republican Congressman Greg Walden and Democratic Congressman John Yarmuth introduced the bill Wednesday. If approved, it would eliminate the FCC's ban on owning a broadcast radio or television station and a newspaper in the same market. NAB President and CEO Gordon Smith was quick to approve the move...

FCC Commissioner Ajit Pai spoke at the Free State Foundation's 10th Anniversary Luncheon this week and did not hold back. Pai has not been a big fan of the current Chairman, Thomas Wheeler, and is being talked about as a possible replacement for Wheeler when he departs the agency, when the Trump administration takes over.

Following the $150,000 purchase of WETN-FM in Wheaton, Illinois, this week, broker George Reed of Media Services Group tells us that Educational Media Foundation is picking up WLFV-FM in Midlothian, VA, and WARV-FM in Petersburg, VA, from Larry Wilson's Alpha Media. EMF will send a check for $2 million to Alpha for the two Virginia FMs. Both stations will flip to the K-Love format.

The Mentoring & Inspiring Women in Radio Group is now taking applications for the 2017 Mildred Carter Mentoring Program. The deadline to apply is Friday, January 6, 2017.

That’s what the Knoxville Country station helped raise, December 5, to benefit victims of the recent Gatlinburg wildfires. An 18-hour on-air/online (#SmokyMtnStrong Radiothon) radiothon raised $315,000 through call-in pledges, and $500,000 over the Net to the My People Fund, in partnership with the Dollywood Foundation.

The two syndicated jocks have kept up their holiday tradition of “Breaking and Entering” people’s homes – but these “home invasions” are about giving, not snatching. Along with their Hoodlum Elves, the pair have delighted folks in markets such as Charlotte, Birmingham, Columbia, NC for more than a decade. But this year it was Albermarle, NC.

Last month, the Radio Music Licensing Committee filed an antitrust complaint against Irving Azoff's Global Music Rights organization for what it called anticompetitive behavior. Wednesday GMR filed its own lawsuit against the radio industry calling it a "cartel" and alleging that more than 10,000 U.S. radio stations wrongfully colluded to underpay songwriters to play songs on the radio.

In 2015, four of the ten highest billing radio stations in America were on the AM band totaling approximately $167 million. For sure there are many others across the country not doing well. AM broadcasters have been asking the FCC for technical help, for what seems like a decade, as the digital world of crisp clean listening picks listeners off year after year. This with the MMTC sent a letter to the Trump administration asking the new government to decommission the AM band. We turned to broadcast attorney John Garziglia to get his opinion on that plan. Here's what he had to say.