Feder: Cumulus Media ready to exit bankruptcy

Cumulus Media, parent company of three Chicago radio stations, has found a way out of bankruptcy, Robert Feder writes. The nation's second largest radio operator announced Tuesday that its financial restructuring plan has been approved by U.S. Bankruptcy Court in New York, a move that will allow Cumulus to erase more than $1 billion in debt and emerge from Chapter 11 reorganization before the end of the quarter. Get the full report and more Chicago media news at robertfeder.com.