Cumulus Media is conducting a new round of layoffs, affecting both sales and programming employees, as the firm moves toward a formal exit from
bankruptcy, Radio Ink reports. This mirrors other industry layoffs, including one by iHeartMedia this summer in dozens of markets. Cumulus entered prepackaged bankruptcy in March.
Heath Freeman, president of Alden Global Capital, has obtained a roughly 32% voting interest in the reorganized Cumulus. Read the whole story at Radio Ink »