Cumulus Media raises capital in PIPE transaction

Client(s) Cumulus Media Inc.

Jones Day represented Cumulus Media Inc., the largest pure-play radio broadcast company in the United States based on station count, in connection with its issuance of shares of Series B Preferred Stock in a PIPE transaction to affiliates of Los Angeles-based Canyon Capital and the use of proceeds to redeem all outstanding shares of its Series A Preferred Stock from an affiliate of Macquarie Capital.