Cumulus Emerges From Chapter 11

After nearly two weeks of trial, U.S. Bankruptcy Judge Shelley C. Chapman ruled from the bench in favor of Cumulus over its junior creditors in a fight concerning the company’s value. The parties had been at odds for weeks over total enterprise value calculations, which the company pegged at somewhere between $1.5 billion and $1.7 billion, while unsecured creditors and another group of investors claimed it was worth about $2.2 billion.

Paul, Weiss, Rifkind, Wharton & Garrison LLP led the efforts on behalf of Cumulus. Impact assisted the Paul, Weiss trial team with visual communications consulting and technology assistance through the duration of the trial.