Cumulus Media Inc. Adopts Limited-Duration Shareholder Rights Plan
ATLANTA, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ:CMLS) ("Cumulus Media" or the "Company") today announced that its Board of Directors (the "Board") has adopted a limited-duration shareholder rights plan ("Rights Plan") to protect the best interests of all Cumulus Media shareholders. The Rights Plan is effective immediately and will expire on February 20, 2025. The Board may consider an earlier termination of the Rights Plan if circumstances warrant. The limited-duration Rights Plan was adopted in response to the significant accumulation of Cumulus Media stock by Renew Group Private Ltd., an entity based in Singapore (together with its affiliates, the "Group"). In adop
