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    SEC Form SC 13D filed by Cumulus Media Inc.

    1/23/24 8:18:51 PM ET
    $CMLS
    Broadcasting
    Consumer Discretionary
    Get the next $CMLS alert in real time by email
    SC 13D 1 renewcumulus13d.htm
    CUSIP No. 231082801
    Page 1 of 5 Pages

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    SCHEDULE 13D

    Under the Securities Exchange Act of 1934

    CUMULUS MEDIA INC.
    (Name of Issuer)

    Class A Common Stock, par value $0.0000001 per share
    (Title of Class of Securities)

    231082801
    (CUSIP Number)

    Ravinder Sajwan
    463 MacPherson Road
    Singapore 368181
    +65 6587 7383
    (Name, Address and Telephone Number of Person
    Authorized to Receive Notices and Communications)
    - with copies to -

     
    Peter D. Fetzer
    Foley & Lardner LLP
    777 East Wisconsin Avenue
    Suite 3800
    Milwaukee, WI  53202-5306
    (414) 297-5596
     

    January 22, 2023
    (Date of Event which Requires Filing of this Statement)


    If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box ☒.

    CUSIP No. 231082801
    Page 2 of 5 Pages


    1
    NAME OF REPORTING PERSON
    Renew Group Private Ltd.
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     
    (a)  ☐
    (b) ☐
    3
    SEC USE ONLY
     
    4
    SOURCE OF FUNDS
    WC
     
    5
    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
    ☐
    6
    CITIZENSHIP OR PLACE OF ORGANIZATION
    Singapore
     
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    7
    SOLE VOTING POWER
    1,621,426
     
    8
    SHARED VOTING POWER
    0
     
    9
    SOLE DISPOSITIVE POWER
    1,621,426
     
    10
    SHARED DISPOSITIVE POWER
    0
     
    11
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    1,621,426
     
    12
    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
    ☐
    13
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    10.01%
     
    14
    TYPE OF REPORTING PERSON
    CO
     


    CUSIP No. 231082801
    Page 3 of 5 Pages

    Item 1.
    Security and Issuer
    This Schedule 13D relates to the class A common stock, par value $0.00000001 (“Common Stock”) of Cumulus Media Inc. (the “Company”).  The address of the principal executive offices of the Company is 780 Johnson Ferry Road, NE, Suite 500, Atlanta, Georgia 30342.  This Schedule 13D is being filed pursuant to Rule 13d-1(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), because the Reporting Person (as defined below) intends to monitor the performance and corporate governance of the Company, as well as the actions of the Company’s management and board.  As a result, the Reporting Person is not currently eligible to report its beneficial ownership on Schedule 13G and has transitioned to Schedule 13D.
    Item 2.
    Identity and Background
     
     (a)
    This Schedule 13D is being filed by Renew Group Private Ltd. (the “Reporting Person”). Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal business, occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and the citizenship of the control person, executive officers and directors of the Reporting Person (the “Related Parties”). To the best of the knowledge of the Reporting Person, none of the persons listed on Schedule A beneficially owns any securities of the Company or is a party to any contract, agreement, or understanding required to be disclosed herein.

     
     (b)
    The principal business address of the Reporting Person is 463 MacPherson Road, Singapore 368181.

     
     (c)
    The Reporting Person owns and operates various companies in medical, energy, water, media and other industries for both industrial and consumer use.

     
     (d)-(e)
    During the last five years, none of the Reporting Persons or any of the Related Parties has (i) has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and (ii) has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.

     
     (f)
    Not applicable as the Reporting Person is not a natural person.

    Item 3.
    Source and Amount of Funds or Other Consideration
    In aggregate, the Reporting Person has voting and dispositive power over 1,621,426 shares of Common Stock of the Company acquired at an aggregate cost of $6,835,932.
    As of the date of this filing, the Reporting Person has no margin or other loans outstanding secured by Common Stock.
    Item 4.
    Purpose of Transaction
    This is the Reporting Person’s initial Schedule 13D, after transitioning from its Schedule 13G filing, as discussed above.
    The Reporting Person owns 10.01% of the Company in the aggregate, based upon the Company’s aggregate outstanding shares as of October 20, 2023.
    The Reporting Person intends to monitor the performance and corporate governance of the Company, as well as the actions of the Company’s management and board.  As it deems necessary, the Reporting Person will assert its stockholder rights.
    To the extent the actions described herein may be deemed to constitute a “control purpose” with respect to the Exchange Act, and the regulations thereunder, the Reporting Person has such a purpose.  Except as noted in this Schedule 13D, the Reporting Person does not have any plans or proposals, which relate to, or would result in, any of the matters referred to in paragraphs (b) through (j), inclusive of Item (4) of Schedule 13D.  The Reporting Person may, at any time and from time to time, review or reconsider its positions and formulate plans or proposals with respect thereto.

    CUSIP No. 231082801
    Page 4 of 5 Pages
    Item 5.
    Interest in Securities of the Company
    The percentages used in this Schedule 13D are calculated based upon the number of outstanding shares of the class A Common Stock, 16,196,129, reported as the number of outstanding shares as of October 20, 2023, in the Company’s Quarterly Report on Form 10-Q filed on October 27, 2023. None of the Related Parties beneficially own any shares of the Common Stock, and one of them have had any transactions in the Common Stock within the past 60 days.
    The Reporting person made the following transactions in the Common Stock within the past 60 days:
    Date
    Quantity Buy/(Sell)
    High Price
    Low Price
    Avg Price
    10/19/2023
    (11,600)
    $5.28
    $5.03
    $5.13
    10/20/2023
    70,400
    $5.18
    $4.98
    $4.98
    10/23/2023
    3,822
    $4.99
    $4.99
    $4.99
    10/27/2023
    90,890
    $4.83
    $4.71
    $4.79
    10/30/2023
    68,358
    $4.79
    $4.62
    $4.74
    10/31/2023
    35,066
    $4.58
    $4.47
    $4.53
    11/1/2023
    856
    $4.58
    $4.57
    $4.58
    11/3/2023
    7,485
    $4.99
    $4.91
    $4.93
    11/6/2023
    3,176
    $4.96
    $4.95
    $4.96
    11/8/2023
    33,705
    $4.83
    $4.78
    $4.82
    11/9/2023
    7,625
    $4.83
    $4.78
    $4.81
    11/10/2023
    7,970
    $4.86
    $4.86
    $4.86
    11/13/2023
    6,910
    $4.88
    $4.79
    $4.82
    11/16/2023
    2,600
    $4.97
    $4.95
    $4.95
    11/22/2023
    6,590
    $4.93
    $4.84
    $4.68
    11/24/2023
    67
    $4.96
    $4.95
    $4.96
    11/27/2023
    21,109
    $4.99
    $4.97
    $4.98
    11/28/2023
    207
    $4.94
    $4.91
    $4.91
    11/29/2023
    3,587
    $4.98
    $4.93
    $4.94
    11/30/2023
    19,001
    $4.97
    $4.91
    $4.94
    12/1/2023
    45,151
    $4.97
    $4.95
    $4.97
    12/4/2023
    1,062
    $4.94
    $4.90
    $4.94
    12/5/2023
    2,288
    $4.95
    $4.90
    $4.94
    12/6/2023
    9,121
    $4.93
    $4.87
    $4.92
    12/7/2023
    13,103
    $4.99
    $4.93
    $4.97
    12/8/2023
    3,642
    $4.99
    $4.92
    $4.99
    12/11/2023
    320
    $4.96
    $4.95
    $4.96
    12/12/2023
    79
    $4.99
    $4.99
    $4.99
    12/13/2023
    5,690
    $4.99
    $4.98
    $4.99
    1/5/2024
    441
    $5.00
    $5.00
    $5.00
    1/8/2024
    7,322
    $4.99
    $4.98
    $4.99
    1/10/2024
    1,589
    $4.99
    $4.97
    $4.98
    1/11/2024
    29,642
    $4.95
    $4.94
    $4.95
    1/12/2024
    24,771
    $4.97
    $4.92
    $4.95
    1/16/2024
    23,003
    $4.94
    $4.92
    $4.93
    1/17/2024
    15,668
    $4.94
    $4.92
    $4.94
    1/18/2024
    7,718
    $4.98
    $4.92
    $4.95
    1/19/2024
    127,722
    $5.00
    $4.86
    $4.90
    1/22/2024
    6,317
    $5.03
    $5.03
    $5.03

    Item 6.
    Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company
    None.
    Item 7.
    Material to be Filed as Exhibits
    None.

    CUSIP No. 231082801
    Page 5 of 5 Pages

    SIGNATURES

    After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct.

    Dated: January 23, 2024


    RENEW GROUP PRIVATE LTD.
     
     
     
    By: /s/ Ravinder Sajwan        
     
    Name: Ravinder Sajwan
     
    Title: Chief Executive Officer
     
     


    Schedule A

    Control Person, Executive Officers and Directors of Renew Group Private Ltd.

    Name and Position Renew Group Private Ltd.
    Present Principal Business, Occupation or Employment
    Name, Principal Business and Address of Entity in Which Business Conducted

    Citizenship
           
    Ravinder Sajwan, Chief Executive Officer and Director
    (Control Person)
    Mr. Sajwan is Chief Executive Officer and a Director of Renew Group Private Ltd.
    Renew Group Private, Ltd., a company that owns and operates various companies in medical, energy, water, media and other industries for both industrial and consumer use, located at   463 MacPherson Road, Singapore 368181
    Singapore
         
     
    Weng Peng Low, Vice President – Investments and Finance and Director
     
    Mr. Low is Vice President – Investments and Finance and a Director of Renew Group Private Ltd.
    Renew Group Private, Ltd., a company that owns and operates various companies in medical, energy, water, media and other industries for both industrial and consumer use, located at   463 MacPherson Road, Singapore 368181
    Singapore
         
     
    Indu Rawat, Director
     
    Mrs. Rawat is general partner of IR Investments LP.
    IR Investments, LP is a private partnership that makes investments across a broad spectrum of financial instruments including personal property, commercial paper, common stock, preferred, commodities, futures, partnership interests and debt, located at 5A Shenton Way #31-15 Singapore 068814
    Canada
           


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