RUMOR MILL
Tuesday, June 5, 2018
CUMULUS EMERGES FROM CHAPTER 11
Cumulus Media reports that it has emerged from Chapter 11 bankruptcy protection. The broadcast giant says it has reduced its debt load by $1 billion (from $2.34b to $1.3b) and as a result "emerge[s] as a stronger and more competitive company," according to CEO Mary Berner.
The company filed for Chapter 11 protection in November of last year.
The restructuring eliminates all previous equity, though some former stakeholders will be issued shares of common stock according to a formula we don't even remotely understand.
Stay tuned for the next chapter.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)rumor mail
