Cumulus Media Cuts Debt in Bankruptcy Deal

Cumulus Media's bankruptcy restructuring has been approved by a U.S. judge, clearing the way for the company to shed $592 million in debt. This approval hands over control of the radio station owner to its lenders. The court in Houston, Texas, gave the green light after creditors overwhelmingly backed the deal.

Finalization now depends on approval from the U.S. Federal Communications Commission. Cumulus filed for bankruptcy in March, citing significant debt and losses due to increased competition from digital audio platforms, shifts in advertising, and declining radio audiences. The company owns 393 radio stations and a podcast network.

Financial statements from April 10 showed Cumulus had a net revenue of $741.7 million in 2025, a 10.3% decrease from the prior year, with a net loss of $200.7 million. The company also faced a legal dispute with Nielsen Audio over ratings data pricing. This is not Cumulus's first bankruptcy; it previously filed in 2017.