{"id":587342,"date":"2026-04-16T07:50:16","date_gmt":"2026-04-16T07:50:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/587342\/"},"modified":"2026-04-16T07:50:16","modified_gmt":"2026-04-16T07:50:16","slug":"judge-approves-cumulus-media-bankruptcy-restructuring","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/587342\/","title":{"rendered":"Judge Approves Cumulus Media Bankruptcy Restructuring"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/04\/cumulus2018.png\" alt=\"Cumulus Media 2018 Mary Berner\" width=\"200\" height=\"200\" class=\"alignright size-thumbnail wp-image-168779\"  \/>Less than six weeks after filing for Chapter 11 bankruptcy restructuring, Cumulus Media has received approval to affirm its restructuring removing $660 million in debt.<\/p>\n<p>The confirmation by US Bankruptcy Judge Alfredo R. P\u00e9rez will see Cumulus become a privately held company with its debt holders converting their debt into equity in the restructured company. Mary Berner will remain as CEO and Francisco Lopez-Balboa as CFO at least through the end of the year through new employment agreements. A new Board of Directors will be appointed. The new ownership will have the holders of Cumulus\u2019 2029 secured notes receiving  95% of the equity in the company. Other note holders will receive the remaining 5% equity and current shareholders being eliminated. <\/p>\n<p>Cumulus will now be required to file a transfer of control application and receive FCC approval to exit Chapter 11.<\/p>\n<p>Berner said, \u201cWhen we initiated this prepackaged restructuring in March, we did so with a clear objective: to right-size our balance sheet to support long-term success. The court\u2019s prompt approval of our plan keeps us firmly on track to eliminate approximately $600 million in debt and positions us to emerge with a significantly stronger financial foundation. We look forward to completing the restructuring and emerging as a well-capitalized company, better equipped to compete in the evolving audio landscape.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Less than six weeks after filing for Chapter 11 bankruptcy restructuring, Cumulus Media has received approval to affirm&hellip;\n","protected":false},"author":2,"featured_media":350624,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53],"tags":[88,216],"class_list":{"0":"post-587342","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-music","8":"tag-entertainment","9":"tag-music"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/587342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=587342"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/587342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/350624"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=587342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=587342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=587342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}