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 […]
