The Cumulus Bankruptcy Victory

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  1. A painful reckoning is coming at the end of the second quarter.
  2. The real EBITDA (and value of the company) is … (no more “adjusted” numbers).
  3. The new value of Cumulus and how much is debt after bankruptcy– don’t even try to guess.  You’re wrong.
  4. Berner’s next surprising idea to raise much needed cash.
  5. The lenders got most of the equity but they are in ill-humor – here’s why.
  6. What their quick emergence from bankruptcy means for any takeover bidders.

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