Long-term Debt and Other Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

		Successor
	Interest Rate (a)	December 31, 2024		December 31, 2023
TLB-1	7.02 %	$	857	$	866
TLB-2	7.02 %	850		—
TLC (b)	N/A	—		470
Secured Notes	8.63 %	1,200		1,200
PEDFA 2009B Bonds	5.25 %	50		50
PEDFA 2009C Bonds	5.25 %	81		81
Cumulus Digital TLF (b)	N/A	—		182
Total principal		3,038		2,849
Unamortized deferred financing costs and original issuance discounts		(34)		(29)
Total carrying value		3,004		2,820
Less: long-term debt, due within one year		17		9
Long-term debt		$	2,987	$	2,811

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(a)Computed interest rate as of December 31, 2024 (Successor).

(b)See “Recent Transactions” below for additional information on extinguishments of indebtedness.

Schedule of Maturities of Long-Term Debt

Long-term debt maturities as of December 31, 2024 (Successor) were:

	2025		2026		2027		2028		2029		Thereafter		Total
Principal debt maturities	$	17	$	17	$	17	$	17	$	17	$	2,952	$	3,038

Schedule of Line of Credit Facilities

		Successor
		December 31, 2024
	Maturity	Committed Capacity (a)		Direct Cash Borrowings		LCs Issued		Unused Capacity
RCF	December 2029	$	700	$	—	$	—	$	700
LCF	December 2026	900		—		374		526
Total		$	1,600	$	—	$	374	$	1,226

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(a)RCF committed capacity can be used for direct cash borrowings and (or) LCs.

Summary Of Key Terms Of Indebtedness

Certain key terms of our indebtedness include:

	Secured Notes	TLB-1	TLB-2	RCF	LCF	PEDFA Bonds
Maturity:	June 2030	May 2030	December 2031	December 2029	December 2026	2009B: December 2038 2009C: December 2037
Index:	None	Term SOFR	Term SOFR	Term SOFR	None	None
Rate, Applicable Margin, and Amortization:	8.625% per annum fixed rate No applicable margin No amortization	2.50% per annum applicable margin; leverage-based step-downs to 2.25% and 2.00% Amortization 1.00% per annum; paid quarterly	Same as TLB-1	Cash borrowings: 2.00% per annum applicable margin; leverage-based step-downs to 1.75% and 1.50% LCs: LC fee equal to applicable margin above + fronting fee of 0.125% Unused commitments: 0.375%; leverage-based step-down to 0.25% No amortization	LCs: Same as RCF Unused commitments: Same as RCF	5.25% per annum fixed rate No applicable margin No amortization
Prepayment Penalty:	Prior to June 1, 2026: Redeemable at par plus a customary “make-whole” premium. 40% redeemable from the proceeds of certain equity offerings at 108.625%. 10% redeemable at 103% from June 1, 2025 – May 31, 2026 On or after June 1 of the following years: 2026: 104.313%; 2027: 102.156%; 2028 and after: 100%	1.00% to the extent prepaid prior to June 20, 2025 in connection with a repricing transaction	1.00% to the extent prepaid prior to June 13, 2025 in connection with a repricing transaction	None	None	Prior to June 1, 2026: Par plus a customary “make-whole” premium On or after June 1, 2026: Par