Competitors Call BS on iHeart’s Financials

  • Our panel of former and current radio CEOs who know how to break out financials and nail Bob Pittman’s 1st quarter misinformation.
  • How iHeart incorrectly keeps claiming revenue growth.
  • The CEOs correct Pittman on profit, digital and podcasting.
  • Their shocking discovery about iHeart cash flow.

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Wells Fargo Repudiates Audacy Management

Audio First Bombs

The Fallout of Streaming

iHeart Rushing into NFTs

Music Discovery Shocker

Audio First Bombs

New evidence shows the big three missed the one name that could reboot radio

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iHeart Rushing into NFTs

  • You may know NFTs as digital artwork that makes headlines when it sells for crazy sums of money – why iHeart’s Bob Pittman is going balls on in for NFTs even as The Wall Street Journal says sales are flattening.
  • Wait, wait – don’t tell Pittman that Coke, Pepsi and Budweiser are getting in big time and he wants to create audio platform products to further drain money from competitor’s radio buys – his plan.
  • Here’s an easy way to understand the definition of NFTs and that dirty word blockchain.
  • There’s money in it for radio but it’s local not national – here’s a link to a list of opportunities.

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Music Discovery Shocker

  • You may want to sit down for this but in a recent NYU student research project, Tinder beat radio for new music discovery – yes, Tinder, the dating app and here’s why.
  • Older folks who were radio’s sweet spot appear to be moving away from radio to streaming – apps like Spotify – why these radio holdouts are increasingly preferring streaming services of all things.
  • Younger demos are preferring YouTube – there’s a major reason for this now.
  • All is not lost for radio but some innovation is overdue – here’s one way to quickly get back into the music discovery arena even with big commercial loads.

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The Cumulus Takeover

  • We contacted top radio execs who have experience acquiring stations, they say the Cumulus board should have taken Warshaw’s money and run – here’s why they didn’t.
  • Those same execs broke down the real Cumulus numbers for you to read and have concluded the company Warshaw was willing to pay $15-17 a share for is actually worth $7 a share or even less – read their notes and numbers.
  • Just in case Warshaw comes back and offers more money for a company that was worth far less than his financial group was willing to pay, here’s why the deal still doesn’t work.
  • Why shareholders may be contacting their lawyers even as we write this.

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The Cumulus Bill of Goods

Cumulus stock went through the roof yesterday even as the Dow lost over 1,000 points. 

  • What’s driving so much interest in Cumulus?
  • How Mary Berner made over $200 million in debt disappear without paying it down.
  • Why the recently rejected Warshaw takeover attempt is a time bomb waiting to go off.
  • The misery Jeff Warshaw can still make for Mary Berner, the person who holds the CEO job he’s always wanted.

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InsideMusicMedia.com

Warshaw’s Next Move

INSIDE …

  • The likelihood of a second Warshaw offer.
  • The part of Cumulus’ $50 million stock buyback announcement they are keeping to themselves (until you read it).
  • My deadly honest POV: What does Warshaw want with a company that has over $1 billion in debt, that still cannot match its pre-covid revenue in an industry struggling with declining revenues?  The answer.

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