Cumulus Media cancels all common shares under plan
All issued and outstanding Cumulus Media common shares, including Class A, were cancelled under the Plan as the company emerged from Chapter 11.
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Form Type
4
Rhea-AI Filing Summary
Cumulus Media Inc. reported a disposition to the issuer of 162,100 Class A common shares by Collin R. Jones, Executive Vice President, Corporate Strategy & Development and President of Westwood One, on October 16, 2026; his reported direct holdings afterward were zero. The transaction coincided with the Plan’s effective date: all issued and outstanding company common shares, including Class A common stock, were cancelled and extinguished as Cumulus Media emerged from Chapter 11.
Insider Trade Summary
Disposition: 162,100 shares
Disposition
1 txn
Insider
JONES COLLIN R.
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock, par value $0.0000001 per share F1, F2, F3 | 162,100 | -- | -- |
Holdings After Transaction:
Class A Common Stock, par value $0.0000001 per share — 0 shares (Direct)
Footnotes (3)
- F1. On March 4, 2026, the Company and certain of its direct and indirect subsidiaries (collectively with the Company, the "Company Parties") commenced filing voluntary petitions (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under Chapter 11 of Title 11 of the United States Code. On March 5, 2026, the Company Parties filed the Disclosure Statement for the Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates and the Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates in the Chapter 11 Cases in the Bankruptcy Court. On April 13, 2026, the Company Parties filed the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates (as may be amended or supplemented from time to time in accordance with its terms, the "Plan").
- F2. On April 15, 2026, the Bankruptcy Court entered an order confirming the Plan (the "Confirmation Order"). On October 16, 2026 (the "Effective Date"), the Company Parties satisfied the conditions to effectiveness of the Plan set forth in the Confirmation Order and the Plan, the Plan became effective in accordance with its terms and the Company Parties emerged from Chapter 11.
- F3. On the Effective Date, all of the Company's issued and outstanding shares of common stock, including the Company's Class A Common Stock, par value $0.0000001 per share, were cancelled and extinguished pursuant to the Plan.
Key Figures
Shares disposed to issuer: 162,100 shares
Direct shares following transaction: 0 shares
Transaction date: October 16, 2026
3 metrics
Shares disposed to issuer
162,100 shares
Class A common stock; October 16, 2026
Direct shares following transaction
0 shares
Reported position after the October 16, 2026 transaction
Transaction date
October 16, 2026
Disposition of Class A common shares
Key Terms
Chapter 11, Plan of Reorganization, Effective Date, issued and outstanding
4 terms
Chapter 11 regulatory
"seeking relief under Chapter 11"
Chapter 11 is a U.S. bankruptcy process that lets a financially distressed company keep operating while it reorganizes its debts and business plan under court supervision. Think of it as a formal pause that allows the company to renegotiate payments, shed contracts or assets, and seek a path to profitability instead of being liquidated; investors watch it because it can change the value and priority of claims, equity dilution, or the likelihood of recovery.
Plan of Reorganization regulatory
"Modified Joint Prepackaged Chapter 11 Plan of Reorganization"
A plan of reorganization is a formal blueprint used during bankruptcy to rearrange a company’s debts, assets and ownership so it can keep operating. It lays out who gets paid, what creditors and shareholders receive, and how the business will change going forward; think of it as a court-approved debt and recovery roadmap that decides whether investors keep value, receive new securities or cash, or lose their stake.
Effective Date regulatory
"On October 16, 2026 (the "Effective Date")"
The effective date is the specific calendar day when a contract, regulatory action, corporate change, or financial disclosure officially begins to apply and take legal or operational effect. For investors, it marks the moment rules, obligations, ownership, pricing, or reporting change—similar to the exact minute a light switch is flipped—so it determines when rights, liabilities, or market impacts start and which periods or transactions are affected.
issued and outstanding financial
"all of the Company's issued and outstanding shares of common stock"
Issued and outstanding refers to two related counts of a company's stock: "issued" is the total number of shares the company has created and ever sold, while "outstanding" is the number of those shares currently held by outside investors (issued shares minus any the company holds in its treasury). Investors use outstanding shares to calculate ownership percentages, voting power, earnings per share and market capitalization — think of issued shares as all slices baked and outstanding as the slices actually on the table for people to eat.
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