Additionally, Cumulus was removed from NASDAQ during the last week of November. Cumulus also defaulted on repaying a $24 million debt.
Cumulus Hopes Bankruptcy Will Allow the Company to Better Use Its Resources
Cumulus hopes that the protections of bankruptcy will relieve some of the financial stress its felt and allow the company to place its “focus” on their resources (including their people) so that they are better able to compete in the changing entertainment market.
