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Joele Frank, Wilkinson Brimmer Katcher is handling the Chapter 11 filing of Cumulus Media, the nation’s No. 2 radio station owner/network after IHeartMedia.
The Atlanta-based broadcaster entered the restructuring to slash more than $1B in debt.
CEO Mary Berner assured shareholders that Cumulus has ample cash on hand and expects to carry out its normal business operations throughout the Chapter 11 proceedings.
The reorganization provides an opportunity “to relieve the financial constraints on our continued progress, allowing us to focus our resources on investing in our business and people to strengthen our competitiveness and ultimately drive growth,” said Berner.
Cumulus earned $1.3M on $287M revenues during the quarter ended September. It had $69.4M in cash/cash equivalents.
JFWBK’s Michael Freitag, Aaron Palash and Andrew Squire are working the Cumulus restructuring.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
