Cumulus Media cancels all common shares in bankruptcy
The Bankruptcy Court confirmed the plan on April 15, 2026, ahead of its October 16, 2026 effective date.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Cumulus Media Inc. director Deborah A. Farrington reported a disposition to the issuer of 62,786 Class A common shares on October 16, 2026, leaving 0 shares reported after the transaction. The company stated that all issued and outstanding common shares, including Class A shares, were cancelled and extinguished under its reorganization plan when it became effective and the company emerged from Chapter 11.
Insider Trade Summary
Disposition: 62,786 shares
Disposition
1 txn
Insider
FARRINGTON DEBORAH A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock, par value $0.0000001 per share F1, F2, F3 | 62,786 | -- | -- |
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
Class A common shares disposed: 62,786 shares
Shares following transaction: 0 shares
Class A common stock par value: $0.0000001 per share
3 metrics
Class A common shares disposed
62,786 shares
Disposition to the issuer on October 16, 2026
Shares following transaction
0 shares
Reported direct holdings after the October 16, 2026 disposition
Class A common stock par value
$0.0000001 per share
Par value stated for the Class A common stock
Key Terms
Chapter 11, Joint Prepackaged Chapter 11 Plan of Reorganization, Confirmation Order, Effective Date
4 terms
Chapter 11 regulatory
"seeking relief under Chapter 11 of Title 11 of the United States Code"
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.
Joint Prepackaged Chapter 11 Plan of Reorganization regulatory
"the Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates"
Confirmation Order regulatory
"the Bankruptcy Court entered an order confirming the Plan (the "Confirmation Order")"
Effective Date regulatory
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When was Cumulus Media's Chapter 11 plan confirmed?
The Bankruptcy Court confirmed Cumulus Media's plan on April 15, 2026. The plan became effective on October 16, 2026, after the company parties satisfied its conditions to effectiveness.
AI-generated analysis. How Rhea-AI works. Not financial advice.
