- Cumulus Media (NASDAQ:CMLS) is now down 25% and stabilizing a bit after a sudden midday drop following a judge's rejection of the company's refinancing plan.
- U.S. District Judge Katherine Polk Failla rejected the company's plan to rework $2.4B in debt, which was opposed by some lenders.
- Cumulus had filed a suit accusing JPMorgan Chase of withholding consent to parts of the plan.
- The company's market cap is down to $23.5M.
Cumulus Media -25% as judge rejects debt refinancing plans
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Symbol | Last Price | % Chg |
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CMLS | - | - |
Cumulus Media Inc. |