October 31, 2018 / 12:08 AM / 10 months ago

Cumulus says terms of its Ch. 11 plan block sweepstakes lawsuit

Radio broadcaster Cumulus Media Inc is seeking to block a class action alleging it ran deceptive sweepstakes, arguing the lawsuit is frivolous and runs afoul of terms in its court-approved bankruptcy reorganization plan.

The plan was approved in May and went into effect in June to help Cumulus cut more than $1 billion in debt. The Atlanta-based company filed for Chapter 11 bankruptcy protection last November in the face of looming debt maturities and competition for listeners and advertisers from digital-streaming and online formats.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2AC9wTz

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