Unsecured Creditors, Cross Holders Objections ‘Anticipated’ By Cumulus


Just before noon on Wednesday, the Official Committee of Unsecured Creditors of Cumulus Media filed an objection to the confirmation of the first amended joint plan of reorganization submitted by the nation’s No. 2 radio broadcasting company to the U.S. Bankruptcy Court in New York.

Minutes later, an ad hoc Cross-Holder Committee followed the lead of Cumulus’ unsecured creditors by also following an objection to the joint plan of reorganization.

By 3pm, Cumulus Media responded by sending a statement to the media explaining that the twin objections “were anticipated.”

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