On February 27, Cumulus Media announced a strategic move alongside its Q4 2023 earnings report, seeking to optimize the company’s capital structure. Through its subsidiary Cumulus Media New Holdings Inc., the broadcaster launched an initiative to extend its debt maturity by three years while increasing the interest rate by two percentage points.
The first wave of that Exchange Offer and Consent Solicitation saw a second extension on March 27.
Now, another extension has been declared by the Atlanta-based publicly traded audio content creation and distribution company led by CEO Mary Berner.
