BIRMINGHAM, Ala. — Cumulus Media’s prepackaged Chapter 11 bankruptcy is not expected to immediately change programming at its Birmingham radio stations, including conservative talk outlet Talk 99.5.
Cumulus Media Inc. filed for Chapter 11 bankruptcy protection this week as part of a prepackaged deal with lenders that the company says will wipe out most of its remaining debt while keeping its radio stations on the air.
The Atlanta-based broadcaster announced that it has entered into a restructuring support agreement with a majority of its secured lenders and other creditors. Under the plan, Cumulus says it will eliminate roughly $600 million in debt in exchange for equity in the reorganized company and new convertible notes.
The company said it expects to continue operating its more than 400 stations and its Westwood One network during the court-supervised process, with no immediate changes announced for local lineups or staffing.
In Birmingham, Cumulus owns a six-station cluster that includes WZRR-FM (99.5), branded as Talk 99.5, a conservative news-talk station that targets the metro area with local talk shows and syndicated national programming. The group also includes sports stations WJOX-FM (94.5) and WJOX (690 AM), sports outlet WJQX (100.5), urban adult contemporary station WUHT (107.7) and news-talk WAPI (1070 AM/99.5 HD).
Talk 99.5 launched its current format in 2016, when Cumulus flipped WZRR from music to spoken word and began simulcasting news-talk programming that had long aired on WAPI. The move extended the company’s talk brand to the FM band, where most radio listening now occurs, and positioned 99.5 as a key home for conservative political talk in central Alabama.
Cumulus did not immediately detail any station-level cuts or potential asset sales tied to the restructuring. The company has said the prepackaged plan is designed to move quickly through bankruptcy court and emerge with a lighter balance sheet and more flexibility to compete in a fragmented audio market increasingly dominated by digital streaming and podcasting.
For now, the filing adds new financial uncertainty around one of Birmingham’s largest commercial radio operators, even as listeners continue to hear familiar voices on Talk 99.5 and the rest of the local Cumulus cluster.