CHICAGO -- The White Sox and Chicago Bulls issued a joint statement on Friday regarding Cumulus Media and the future search for a new flagship station for both teams' radio broadcasts.Cumulus announced plans to drop the multiyear deals to broadcast White Sox baseball and Bulls basketball on WLS-AM 890 in

CHICAGO -- The White Sox and Chicago Bulls issued a joint statement on Friday regarding Cumulus Media and the future search for a new flagship station for both teams' radio broadcasts.

Cumulus announced plans to drop the multiyear deals to broadcast White Sox baseball and Bulls basketball on WLS-AM 890 in Chicago, according to numerous reports, as Cumulus tries to emerge from bankruptcy.

"As part of its bankruptcy filing, Cumulus Media informed us this week that it intends to reject its broadcasting rights agreements with both the Chicago White Sox and Chicago Bulls effective February 1, 2018," the statement read. "The Bulls, White Sox and Cumulus have worked to find an amicable solution that would provide broadcast continuity to our fans, while addressing Cumulus's financial issues, but these efforts have been unsuccessful.

"The teams remain confident in finding a radio broadcast solution for their fans, and together, the Bulls and White Sox are exploring all options for a new radio home. The teams will make announcements regarding future broadcast plans as updates are available."

WLS became the White Sox flagship in April 2016. The team is in its third year of a six-year deal with the station.

Scott Merkin has covered the White Sox for MLB.com since 2003. Read his blog, Merk's Works, follow him on Twitter @scottmerkin, on Facebook and listen to his podcast.