On Thursday RBR+TVBR exclusively reported on the rapid acceleration of Cumulus Media stock by Brigade Capital Management, a member of the “Ad-Hoc Cross-Holder Committee” — the group comprised of holders of $2.025 million in term loans and 7.75% senior notes due May 2019 that objected to Cumulus’ restructuring plan.
We now know a second lender has taken a beneficial ownership stake in Cumulus.
