Key Takeaways
- • Alden Capital Group, which acquired a controlling stake in Cumulus Media in October 2026 through a bankruptcy-related take-private, has begun a new round of layoffs across Cumulus's Albuquerque radio group, according to The Paper and The New Mexico News.
- • Cumulus's most recent quarterly results (six months ended June 30, 2026) showed advertising spot revenue down 13.3% year-over-year and total net revenue down 11.0%.
- • The company entered bankruptcy with more than $600 million in debt, according to court filings, and operates over 330 stations nationwide.
- • Cuts hit on-air, production and back-office staff at stations including KKOB (96.3 FM / 770 AM), and long-time Albuquerque market manager and Cumulus Vice President Jeff Berry was among those laid off.
- • The article frames the cuts within Alden's broader newspaper strategy, citing its 2021 acquisition of the Chicago Tribune, where staff fell from about 700 to about 100 after a 20% initial reduction.
Summary
New private equity owners of Cumulus Media initiated layoffs in the company's Albuquerque radio group this week, according to The Paper and The New Mexico News. The cuts affected on-air, production and back-office teams across several stations, including conservative talk station 96.3 FM / 770 AM KKOB. Among those laid off was long-time market manager and Cumulus Vice President Jeff Berry. The article describes the cuts as continuing a nationwide pattern following the company's acquisition out of bankruptcy.
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 its assets from bankruptcy. The company entered bankruptcy with over $600 million in debt, according to court filings. The bankruptcy filings did not disclose market-specific financial data for Cumulus's more than 330 stations. Its most recent quarterly operating results, covering the six months ended June 30, 2026, showed advertising spot revenue down 13.3% year-over-year and total net revenue down 11.0%.
The report places the layoffs in the context of Alden's media strategy. Alden is among the largest newspaper holders in the country, and the article says it has applied a similar approach to local news. It cites Alden's acquisition of the Chicago Tribune for a reported $600 million in 2021, after which it cut 20% of staff within weeks and the paper's former staff of 700 is now reported at about 100. An 2021 Atlantic investigation identified hundreds of Alden-owned newspapers where the company shrank newsrooms to raise profit margins, a strategy the article characterizes as "vulture capitalism."
In a separate development, Leah Black, morning co-host of the Carlos D and Leah Black show on 99.3 "The Q," announced she would add a midday slot on KMGA (Magic 99.5), filling a position left vacant in August when Stephanie Duran exited during an earlier round of reductions. The publisher said other on-air positions were eliminated in the latest round but did not name those affected, to give them time to inform their families and colleagues.
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 its assets from bankruptcy. The company entered bankruptcy with over $600 million in debt, according to court filings. The bankruptcy filings did not disclose market-specific financial data for Cumulus's more than 330 stations. Its most recent quarterly operating results, covering the six months ended June 30, 2026, showed advertising spot revenue down 13.3% year-over-year and total net revenue down 11.0%.
The report places the layoffs in the context of Alden's media strategy. Alden is among the largest newspaper holders in the country, and the article says it has applied a similar approach to local news. It cites Alden's acquisition of the Chicago Tribune for a reported $600 million in 2021, after which it cut 20% of staff within weeks and the paper's former staff of 700 is now reported at about 100. An 2021 Atlantic investigation identified hundreds of Alden-owned newspapers where the company shrank newsrooms to raise profit margins, a strategy the article characterizes as "vulture capitalism."
In a separate development, Leah Black, morning co-host of the Carlos D and Leah Black show on 99.3 "The Q," announced she would add a midday slot on KMGA (Magic 99.5), filling a position left vacant in August when Stephanie Duran exited during an earlier round of reductions. The publisher said other on-air positions were eliminated in the latest round but did not name those affected, to give them time to inform their families and colleagues.
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