15 Aug 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.