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- Cumulus has upped their offer and delivered the needed support to do a debt exchange that buys them more time, but there is a big downside.
- Shareholders are in ill humor as they recently rebuked the company, its CEO and c-suite executives – here’s what Cumulus had to admit to the government.
- Cumulus gets a few more years, debt holders get a higher payout but it’s their next move that matters most.
- The best outcome that can be expected from this lopsided debt exchange.
- How both equity and debt investors are likely to get screwed by Cumulus.
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