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Podcast: Podnews Daily - podcast industry news
Episode: Cumulus files for bankruptcy, again
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Cumulus Media has filed for bankruptcy. The company, which owns the Cumulus Podcast Network and Westwood One, is trying to eliminate around $600mn of debt. It’ll continue operating under chapter 11 protection in the meantime.
Competitors iHeartMedia filed for bankruptcy in Mar 2018, emerging in May 2019. Audacy also filed for bankruptcy in Jan 2024 (emerging in Sept). Cumulus itself last filed for bankruptcy less than ten years ago, in...