Cumulus Media, which is based in Atlanta, on March 5, 2026, filed for bankruptcy protection in a prepackaged deal with lenders that erases $600 million in debt. (Rodney Ho/AJC)
For the second time in the past decade, Atlanta-based Cumulus Media has filed for bankruptcy protection to reduce debt.
Facing headwinds from a shrinking business, the nation’s second-largest radio company has made a “prepackaged” bankruptcy filing. A press release said this will allow the company “to eliminate approximately $600 million of debt, substantially deleveraging its balance sheet and enhancing its ability to execute on strategic priorities.”
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Cumulus Media in Atlanta owns more than 400 stations nationwide including four in Atlanta: Q99.7, 99X, New Country 101.5 and OG 97.9. This is the hallway entrance into Cumulus Atlanta. (Rodney Ho/AJC)
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Steve Craig in the studio at Cumulus Atlanta. It’s not the same space as he had when he last left but it is now decorated in 99X memorabilia. (Rodney Ho/AJC)
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Rodney Ho writes about entertainment for The Atlanta Journal-Constitution including TV, radio, film, comedy and all things in between. A native New Yorker, he has covered education at The Virginian-Pilot, small business for The Wall Street Journal and a host of beats at the AJC over 20-plus years. He loves tennis, pop culture & seeing live events.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.ajc.com ’
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