{"id":334431,"date":"2026-03-07T21:57:09","date_gmt":"2026-03-07T21:57:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/334431\/"},"modified":"2026-03-07T21:57:09","modified_gmt":"2026-03-07T21:57:09","slug":"cumulus-media-owner-of-radio-stations-the-ticket-the-wolf-and-wbap-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/334431\/","title":{"rendered":"Cumulus Media, owner of radio stations The Ticket, The Wolf and WBAP, files for bankruptcy"},"content":{"rendered":"

NEW YORK \u2014 Cumulus Media, an audio entertainment company that owns 394 radio stations, a radio syndication business and a podcast network, filed for bankruptcy protection late Wednesday in Texas with \u200ba restructuring deal that would eliminate most of the company\u2019s $697 million in debt.<\/p>\n

Cumulus said in \u200cits bankruptcy filing that its debt had become unsustainable due to unrelenting challenges such as increasing competition from digital audio and streaming platforms, changes in the advertising market, and recurring annual declines in its radio audiences. The company previously \u200bfiled for bankruptcy in 2017.<\/p>\n

The company owns and operates six radio stations in North Texas, including:<\/p>\n

99.5 The Wolf\/KPLX-FM (country)WBAP-AM NewsTalk 820 AM\/93.3 FM (news\/talk)Sportsradio 96.7FM\/1310 AM\u00a0The Ticket\/KTCK-FM (sports)93.3 FM-HD2 Country Legends & Texas Classics\/WBAP-HD2 (classic country)New Country 96.3\/KSCS-FM (country)KLIF 570 AM\/96.3 FM-HD2 (news\/talk)<\/p>\n

The restructuring deal would wipe out Cumulus\u2019 existing equity shares and \u200bput the company under the ownership of its lenders, if approved in bankruptcy \u2060court. The deal is supported by the company\u2019s lenders, and it would eliminate approximately $592 million in \u200bdebt, according to Cumulus\u2019 bankruptcy court filings.<\/p>\n

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\u201cThe prepackaged process is intended to address the company\u2019s debt efficiently \u200bwith no disruption to our operations, our people, and our strategies,\u201d Cumulus CEO Mary Berner said in a Thursday statement.<\/p>\n

Cumulus reported $553.6 million in net revenue for the nine months that ended on Sept. 30, with a net loss \u200bof $65.6 million over that period, according to the company\u2019s filings with the U.S. Securities and Exchange Commission.<\/p>\n

Cumulus \u200bsaid its decline was hastened by a legal dispute<\/a> with Nielsen Audio, which provides ratings data that network broadcasters use \u200cto sell \u2060advertising.<\/p>\n

Nielsen changed its policy in late 2024 to require radio companies to buy data separately for all local markets in which they operate, rather than allowing them to buy only nationwide radio data, according to Cumulus\u2019 court filings.<\/p>\n

Cumulus sued over the change, arguing that the new policy raised Cumulus\u2019 costs by \u200bforcing it to buy \u200bunwanted local ratings data \u2060products and preventing it from identifying and dropping products that did not generate positive returns. That litigation is ongoing, and Cumulus won an initial injunction \u200bthat was later stayed by an appeals court, according to its bankruptcy \u200bcourt filings.<\/p>\n

Other large \u2060radio companies, like Audacy<\/a> and iHeartRadio<\/a>, have also used bankruptcy to restructure their debts in recent years.<\/p>\n

Cumulus Media is based in Atlanta and it has 3,000 employees. The bankruptcy proposal was filed in the Southern District of Texas.<\/p>\n

\u2014 Dietrich Knauth<\/p>\n

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