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Possible Bankruptcy for Cumulus Media

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According to recent press and people familiar with the matter, Cumulus Media Inc.  recently started talks with two separate groups of creditors who own big chunks of the Company’s $2.4 billion in debt. The talks could lead to a bankruptcy filing, according to people familiar with the matter. While Cumulus and its advisers are in talks with lenders and bondholders, the situation remains fluid and an out-of-court debt restructuring remains possible, the people added. Read more on distressed companies.

The post Possible Bankruptcy for Cumulus Media appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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