Silver Lining: Cumulus has completed its financial restructuring and emerged from the Chapter 11 reorganization process (CAT 3/5) following receipt of all required approvals, including from the FCC. "Emerging with a significantly stronger balance sheet, we are more committed than ever to providing engaging content across our national footprint, serving as a lifeline and voice for the local communities we serve, driving meaningful growth for our advertising partners, and delivering value for our new shareholders," says Pres./CEO Mary Berner. Cumulus has appointed a new Board of Directors and will remain under the leadership of its existing management team.