Cumulus Media has cleared its biggest remaining hurdle to exiting bankruptcy. The FCC has granted the broadcaster’s applications to transfer control of its licenses to its new shareholders, following a pledge from CEO Mary Berner that newsroom staffing will hold steady.
FCC records show the lead application was granted days after Cumulus sent a letter to FCC Chairman Brendan Carr on Aug. 14 reaffirming its public-interest commitments and pledging to maintain current newsroom staffing levels for a minimum of two years. Cumulus filed prepackaged Chapter 11 bankruptcy in March, and a federal judge approved its reorganization plan in April.
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