Brief: In First Year Post-Emergence, Cumulus Media Achieves $200 Mln Debt Reduction Milestone

Cumulus Media

05/06/2019 14:26

June 5 (Reuters) - Cumulus Media Inc  CMLS.O :
    * IN FIRST YEAR POST-EMERGENCE, CUMULUS MEDIA ACHIEVES $200
MILLION DEBT REDUCTION MILESTONE
    * CUMULUS MEDIA - DEBT PREPAYMENT IS BEING FUNDED BY NET
PROCEEDS
OF PREVIOUSLY ANNOUNCED SALE OF SIX RADIO STATIONS TO
EDUCATIONAL MEDIA FOUNDATION
    * CUMULUS MEDIA INC - NET LEVERAGE HAS DECLINED FROM
APPROXIMATELY
5.8X AT EMERGENCE TO APPROXIMATELY 4.8X WITH THIS PAYMENT.

Source text for Eikon:  ID:nGNX4STg7n 
Further company coverage:  CMLS.O 

 ((Reuters.Briefs@thomsonreuters.com;))