In another sign the broadcast radio industry is struggling to adapt to the onslaught of satellite radio and streaming media, Cumulus Media, owner of 446 radio stations, voluntarily filed for reorganization under Chapter 11 of the Bankruptcy Code. Among their stations are five from Erie: Classy 100 at FM 99.9, Z-102.3, Nash 97.9, 104.3 The Vibe and WRIE AM 1260 and FM 96.3.
Cumulus expects all operations, programming and sales to continue as normal throughout this restructuring process. The Company has ample cash on hand, combined with funds generated from ongoing operations, to support the business …
Broadcast radio is undergoing the same high tech disruption that’s destroying local newspapers. While Cumulus says it plans to continue normal operations and we certainly hope they can, over the long term, technology isn’t slowing down and radio stations face a very uncertain future.
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