Current posture
Cumulus Media remains in Chapter 11 under final cash-collateral authority, with the June monthly operating report Dkt. 491 providing the latest permitted docket evidence of ongoing case administration through June 30, 2026. The company entered bankruptcy on March 5 with a prepackaged restructuring after persistent declines in broadcast advertising, competition from digital audio, elevated interest expense and higher ratings-data costs continued to pressure liquidity despite a 2024 exchange that pushed most maturities to 2029. As detailed in the first-day declaration Dkt. 15, Cumulus had approximately $697.1 million in funded debt, concentrated in the 2029 term loan and first-lien notes, plus an ABL facility and smaller 2026 obligations. The restructuring path is a creditor-led debt-for-equity recapitalization rather than a sale. The filed prepackaged plan Dkt. 20 proposed rolling the ABL claims into restated exit financing, allowing the 2029 secured claims at approximately $168.6 million and distributing $50 million of exit convertible notes and 95% of the new common equity to those holders, subject to dilution. Other funded-debt holders would share the remaining 5% of new equity; general unsecured claims would remain…
Updated Aug 6, 2026
Proof of Claim - Claim 203 - 2690354260811000000000001:26-90354:General Unsecured
Docket 203 · Aug 11, 2026
Certificate of Service re: 1) Debtors Motion for Entry of an Order Extending the Time Within Which the Debtors May Remove Actions; and 2) Order Extending the Time Within Which the Debtors May Remove Actions (Filed By Kurtzman Carson Consultants, LLC d/b/a Verita Global ).(Related document(s):[409] Order on Motion to Extend Time) (Gershbein, Evan)
Docket 521 · Aug 10, 2026
Certificate of Service re Documents Served on July 31, 2026 (Filed By Kurtzman Carson Consultants, LLC d/b/a Verita Global ).(Related document(s):[479] Debtor-in-Possession Monthly Operating Report, [480] Debtor-in-Possession Monthly Operating Report, [481] Debtor-in-Possession Monthly Operating Report, [482] Debtor-in-Possession Monthly Operating Report, [483] Debtor-in-Possession Monthly Operating Report, [484] Debtor-in-Possession Monthly Operating Report, [485] Debtor-in-Possession Monthly Operating Report, [486] Debtor-in-Possession Monthly Operating Report, [487] Debtor-in-Possession Monthly Operating Report, [488] Debtor-in-Possession Monthly Operating Report, [489] Debtor-in-Possession Monthly Operating Report, [490] Debtor-in-Possession Monthly Operating Report, [491] Debtor-in-Possession Monthly Operating Report, [492] Debtor-in-Possession Monthly Operating Report, [493] Debtor-in-Possession Monthly Operating Report, [494] Debtor-in-Possession Monthly Operating Report, [495] Debtor-in-Possession Monthly Operating Report, [496] Debtor-in-Possession Monthly Operating Report, [497] Debtor-in-Possession Monthly Operating Report, [498] Debtor-in-Possession Monthly Operating Report, [499] Debtor-in-Possession Monthly Operating Report, [500] Debtor-in-Possession Monthly Operating Report, [501] Debtor-in-Possession Monthly Operating Report, [502] Debtor-in-Possession Monthly Operating Report, [503] Debtor-in-Possession Monthly Operating Report, [504] Debtor-in-Possession Monthly Operating Report, [505] Debtor-in-Possession Monthly Operating Report, [506] Debtor-in-Possession Monthly Operating Report, [507] Debtor-in-Possession Monthly Operating Report, [508] Debtor-in-Possession Monthly Operating Report, [509] Debtor-in-Possession Monthly Operating Report, [510] Debtor-in-Possession Monthly Operating Report, [511] Debtor-in-Possession Monthly Operating Report, [512] Debtor-in-Possession Monthly Operating Report, [513] Debtor-in-Possession Monthly Operating Report,
Docket 522 · Aug 10, 2026
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