Cumulus Uses KLOS/Los Angeles Sale Proceeds To Knock $50 Million Off Its Debt

Debt Prepayment

CUMULUS MEDIA INC. has used the net proceeds from the closing on JULY 17th of the sale of Rock KLOS/LOS ANGELES to MERUELO MEDIA to make a $50 million voluntary debt prepayment.

CUMULUS said it has reduced its debt by about $250 million since emerging from Chapter 11 bankruptcy on JUNE 4th and now owes approximately $1.05 billion.

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