---
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"
generated_at: "2026-05-15T05:26:37.437734+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media's Chapter 11 plan confirmed; eliminates ~$600M debt, existing equity cancelled

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- confidence: high
- sec_items: 1.03, 5.02, 7.01, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-044909
- JSON: https://secwatch.observer/filing/0001104659-26-044909.json
- Plain text: https://secwatch.observer/filing/0001104659-26-044909.txt

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