By Pat Davis, The Paper. and The New Mexico News — New private equity owners of Cumulus Media initiated layoffs in its Albuquerque radio group this week, continuing a nationwide pattern of cuts after being acquired out of bankruptcy.
Cumulus’ Albuquerque market cuts have hit on-air, production and back office teams across a number of stations including conservative talk radio giant 96.3 FM / 770 AM KKOB. Layoffs enacted this week included long-time market manager and Cumulus Vice President Jeff Berry.
While the company’s bankruptcy filings did not provide market-specific financial data for its 330-plus stations, its most recent quarterly operating results (covering the six months ended June 30, 2026) showed that advertising spot revenue fell 13.3% year-over-year, while total net revenue dropped 11.0%. The company had entered bankruptcy with over $600 million in debt, according to court filings. In October, private equity investors Alden Capital Group purchased a controlling share of the radio group and took the company private in a deal to acquire the assets from bankruptcy…