Cumulus Media, owner of 447 radio stations nationwide including KABC and KLOS locally, was dealt a huge blow last week in its effort to reduce its debt. Reuters reports that a federal judge rejected a plan that would have allowed the company to exchange a portion of its $2.4 billion in debt with … other debt.
Category: Radio
WCCO radio to be under new ownership as CBS Radio merges with Entercom
The tax-free merger marks the second time WCCO has shifted ownership since its start more than 90 years ago. CBS Radio bought the station from General Mills predecessor Washburn-Crosby Co.
FCC dialing up changes too late for CBS, Entercom deal
Sweeping changes are likely to come to the FCC under new leadership and President Trump in office, but will most likely not have any impact on the merger between Entercom and CBS Radio. “You can’t just suddenly change the rules, you have to go through a whole notice and comment procedure, then rule-making.