{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-044909","form_type":"8-K","ticker":"CMLS","cik":"0001058623","company_name":"CUMULUS MEDIA INC","filed_at":"2026-04-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:31.888457+00:00","generated_at":"2026-05-15T05:26:37.437734+00:00","sec_items":["1.03","5.02","7.01","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.95,"confidence":"high","headline":"Cumulus Media's Chapter 11 plan confirmed; eliminates ~$600M debt, existing equity cancelled","bullets":["Bankruptcy Court confirmed Plan of Reorganization on April 15, 2026; FCC approval required before emergence.","Plan eliminates approximately $600 million in debt; existing common stock cancelled with no distribution.","New common stock to be issued but not listed on any exchange; company to deregister and suspend SEC reporting.","CEO Mary Berner (base salary reduced to $1.25M) and CFO Frank Lopez-Balboa ($700K) signed amended employment agreements.","10% of new common stock reserved for Management Incentive Plan (MIP Pool) for employees and directors."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-044909","json":"https://secwatch.observer/filing/0001104659-26-044909.json","markdown":"https://secwatch.observer/filing/0001104659-26-044909.md","text":"https://secwatch.observer/filing/0001104659-26-044909.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926044909/0001104659-26-044909-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1058623/000110465926044909/tm2611967d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T05:26:37.437734+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}