---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-023855"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2026-03-05T23:59:59+00:00"
generated_at: "2026-05-15T19:17:37.465786+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media files prepackaged Ch.11; $592M debt equitized; equity cancelled for no recovery

## Summary
- Prepackaged Chapter 11 filed March 4; Plan equitizes ~$592M debt, cutting annual cash interest ~$49M.
- Existing Class A and Class B common stock cancelled for no recovery; holders receive nothing.
- Consenting 2029 note/lenders to receive $50M Exit Notes + 95% of new common stock.
- Two directors (Castro, Kushner) resigned; Elizabeth Abrams and David Tolley appointed per RSA.
- Company continues operations as debtor-in-possession; ABL lenders get new ABL loans.

## SEC filing metadata
- accession: 0001104659-26-023855
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2026-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.04, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000110465926023855/0001104659-26-023855-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000110465926023855/tm267873d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-023855
- JSON: https://secwatch.observer/filing/0001104659-26-023855.json
- Plain text: https://secwatch.observer/filing/0001104659-26-023855.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.