Cumulus Defends Valuation To Open Ch. 11 Plan Confirmation

Law360, New York (April 12, 2018, 10:34 PM EDT) -- Bankrupt radio giant Cumulus Media Inc. began a trial Thursday to confirm a Chapter 11 restructuring plan that would reduce its bloated debt by just over $1 billion, squaring off against junior creditors who complain they are being shortchanged by a deal that undervalues the company's total worth.

Attorneys for Cumulus kicked off a weeklong trial in New York bankruptcy court, touting the virtue of receiving a "fresh start" through a restructuring plan that significantly reduces the nearly $2.4 billion worth of funded debt the broadcast...
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