Home Featured Top Slider Cumulus, Owner Of 446 U.S. Radio Stations, Files For Bankruptcy Protection, Stock...

Cumulus, Owner Of 446 U.S. Radio Stations, Files For Bankruptcy Protection, Stock Falls 45%

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Photo by Mpho Mojapelo on Unsplash under the Creative Commons License

Hypebot reports: “Broadcast radio may not be dead, but it certainly is on life support. Cumulus Media has filed for Chapter 11 Bankruptcy protection, as it struggles with $2.4 billion in debt. Cumulus was delisted from the NASDAQ last week, and earlier this month defaulted on a $24 million debt payment. Top Cumulus owned music stations include classic rocker KLOS in LA, Triple At KFOG and rocker KSAN in San Francisco, and WPLJ in New York City.”

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