US EditionRadio station owner Cumulus Media files for bankruptcy to cut $600 ...
The prepackaged Chapter 11 filing aims to cut $592 million of debt and shift ownership to creditors, addressing long-term industry and pandemic-driven financial pressures.
- Cumulus Media filed for Chapter 11 protection on March 5, 2026, in the Southern District of Texas to eliminate about $600 million in obligations through a prepackaged deal.
- Facing digital competition and shifting ad dollars, Cumulus said its debt became unsustainable due to pandemic-related commuting changes, ad diversion, rising costs, and stalled 2024 debt exchange attempts.
- Financial disclosures reveal Cumulus operates 394 radio stations and reported $553.6 million net revenue with a $65.6 million net loss for the nine months to September 30, 2025.
- Under the plan, all existing funded debt will be canceled as lenders receive full equity and $50 million in new convertible notes; Cumulus says its asset-based revolving credit facility will be amended to maintain liquidity.
- Industry observers note that other large 'radio companies like Audacy and iHeartRadio have used bankruptcy in recent years, with prepackaged filings often leading to quicker resolutions.
14 Articles
14 Articles
Cumulus files for bankruptcy, again
Sponsored by Riverside. Podcast growth is increasingly multi-platform. A top show expanded to video with Riverside and grew RSS 15%. Expand your reach with Riverside without rebuilding your stack. Start for free. Cumulus Media has filed for bankruptcy. The company, which owns the Cumulus Podcast Network and Westwood One, is trying to eliminate around $600mn of debt. It’ll continue operating under chapter 11 protection in the meantime. Competito…
Radio Giant Cumulus Files for Bankruptcy, Citing $600M Debt & Growth of Digital Streaming
Radio giant Cumulus Media filed for bankruptcy Thursday (March 5) to eliminate $600 million in debt, citing “persistent industry-wide declines” in revenue and listeners moving to digital streaming services like Spotify, according to court documents obtained by Billboard. The company, which owns 394 stations in 84 markets across the country, filed the Chapter 11 case as part of a so-called pre-packaged deal with its lenders in return for equity…
Cumulus Media files for bankruptcy, announces debt restructuring
The logo of Cumulus Media. (Image: Handout/Graphic: The Desk) Cumulus Media has filed for Chapter 11 bankruptcy protection as part of a restructuring plan designed to eliminate roughly $600 million in debt and place the radio broadcaster on stronger financial footing. The Atlanta-based company filed voluntary petitions on Thursday in the U.S. Bankruptcy Court for the Southern District of Texas, launching a prepackaged reorganization process supp…
A Major Owner of FM & AM Radio Stations is Declaring Bankruptcy
Cumulus Media, one of the largest radio broadcasters in the United States, has initiated Chapter 11 bankruptcy proceedings as part of a strategic effort to eliminate a substantial portion of its outstanding debt and bolster its financial stability. The company announced an agreement with key creditors to wipe out approximately $600 million in obligations through […] The post A Major Owner of FM & AM Radio Stations is Declaring Bankruptcy appeare…
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