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Wednesday, November 29, 2017

CUMULUS' NEXT CHAPTER: 11

Cumulus has filed Chapter 11 bankruptcy reorganization to restructure its debt, according to reports. An Inside Radio story notes that the company has reached an agreement with a lenders' group to shrink its debt load by $1 billion+, and that the broadcasting giant—which claims to have "ample cashon hand"—expects normal operation to continue through the process. Details here.

 
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