Silver Linings Playbook: After entering into a "prepackaged Chapter 11 process" in U.S. Bankruptcy Court for the Southern District of Texas in March (CAT 3/5), Cumulus revealed today (3/15) that the court has approved its reorganization plan, and that it expects to emerge from Chapter 11 following FCC approval. Pres./CEO Mary Berner says, “The court’s prompt approval of our plan keeps us firmly on track to eliminate approximately $600 million in debt and positions us to emerge with a significantly stronger financial foundation. We look forward to completing the restructuring and emerging as a well-capitalized company, better equipped to compete in the evolving audio landscape.”