Cumulus Media Hires Paul Weiss, Porter Hedges for Restructuring

Atlanta-based Cumulus Media Inc. and 40 of its affiliated companies filed for Chapter 11 bankruptcy protection Wednesday in the Southern District of Texas.

Cumulus Media, which provides programming to 394 radio stations in 84 markets, cited liabilities between $1 billion and $10 billion and lists more than 10,000 potential creditors. The filings show Cumulus Media’s largest creditors are Bank of America ($321 million), U.S. Bank Trust ($318 million), Hogan Lovells ($3.5 million), Irving-based Infinite Digital ($743,000), King & Spalding ($254,000), San Antonio-based iHeart Media ($228,000) and Jones Day ($120,000).