Cumulus Bankruptcy #2

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  • The reasons financial people expect Cumulus to file for a second bankruptcy along with what will trigger it.
  • The affect another bankruptcy will have on the fragile station group and Westwood One.
  • The true financial condition of Cumulus by experts – not speculation or corporate hype we’ve been hearing.
  • The list of costs that should be going down after emerging from bankruptcy that are actually going up.
  • Why Cumulus is suddenly losing key people at the worst time possible.
  • The prognosis for Westwood One.

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5 Questions for the New Cumulus Board

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  • The 5 major questions that the new Cumulus board needs Mary Berner to honestly answer according to analysts and financial people.
  • What constitutes accounting tricks and what are sound and generally accepted accounting principles necessary to stop the bleeding.
  • 11 hours of board questions and concerns boiled down to these indicators of a turnaround or a failure.
  • How to tell the early signs that a second bankruptcy will be needed.
  • Troubling company financial indicators that are rarely discussed in public.
  • The concerning story of what’s really going on today at Westwood One.

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Lew Dickey’s Return

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  • A timetable you can take to the bank – the specific month all of this goes down.
  • What happened to his takeover bid for the failing Cumulus.
  • What Dickey’s first acquisitions will be from these sellers – either in part or whole.
  • The large group that is also being considered.
  • The plan to prevent a repeat of Cumulus 1.0.
  • First look at Dickey’s new management team.

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The Cumulus Lori Lewis Breakup

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  • How a company touting a digital revolution let radio’s acknowledged best social media expert quit?
  • The role “flipping” may have played in her departure.
  • The rumored Mary Berner Hit List – 2 of the alleged targets are gone already – what it means for the others.
  • Money walking out the door – the latest Cumulus top-biller and Key Account Manager also quit Berner.  How that went down.
  • The Cumulus employee who was just fired after commenting on a post by a former Dickey confidant – you have to see this, the post, the comment that ends ugly.
  • Little known details of jealousy and demands of loyalty that may further impact the bottom line that even the board of directors doesn’t know about.

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Entercom’s Toxic Workplace Coverup

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Become a NEW Subscriber and begin with Entercom's Toxic Workplace Coverup here. 

And read these full articles …

            Liberty’s iHeart Takeover

            Cumulus Asset Sales

            Entercom Adopts Cumulus Policies

            Cumulus Future Plans

            Entercom Commission Rate Cut

            iHeart, Cumulus Market Manager Peril

Plus every article for the past year and 3,990 in our archive like these (scroll thru/latest first)

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Liberty’s iHeart Takeover

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And read these full articles …

            Cumulus Asset Sales

            Entercom Adopts Cumulus Policies

            Cumulus Future Plans

            Entercom Commission Rate Cut

            iHeart, Cumulus Market Manager Peril

Plus every article for the past year and 3,989 in our archive like these (scroll thru/latest first)

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Cumulus Asset Sales

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And read these full articles …

            Entercom Adopts Cumulus Policies

            Cumulus Future Plans

            Entercom Commission Rate Cut

            iHeart, Cumulus Market Manager Peril

            Entercom Name Change

Plus every article for the past year and 3,988 in our archive like these (scroll thru/latest first)

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Read some recent FREE SAMPLES here.

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Report news backed by my Witness Protection Program here. 

Inside Music Media contains no advertising.  Accepts no corporate money or consideration.  And is beholden only to subscribers who appreciate it so much that they pay for it.  Thank you.

Entercom Adopts Cumulus Policies

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Become a NEW Subscriber and begin with Entercom Adopts Cumulus Policies here. 

And read these full articles …

            Cumulus Future Plans

            Entercom Commission Rate Cut

            iHeart, Cumulus Market Manager Peril

            Entercom Name Change

            Breakup of Alpha Media

Plus every article for the past year and 3,987 in our archive like these (scroll thru/latest first)

For 27 cents a day, join the thousands of members who read Inside Music Media-- insightful, deadly honest and informative.

Read some recent FREE SAMPLES here.

Talk to Jerry privately here

Report news backed by my Witness Protection Program here. 

Inside Music Media contains no advertising.  Accepts no corporate money or consideration.  And is beholden only to subscribers who appreciate it so much that they pay for it.  Thank you.

Cumulus Future Plans Leaked

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  1. Future RIFs – Berner has repeatedly denied saving money through personnel reductions but now we know how much she actually saved – one time or ongoing?
  2. Selling assets – Is Berner ready to start selling off stations to keep Cumulus afloat?
  3. Money to fix and maintain stations – how Cumulus is planning to handle that going forward.   
  4. DC land sale – Something’s up with the troubled $75 million sale of land near Bethesda that keeps getting delayed.
  5. Podcasting to offset declining local radio?  Wait until you see their plans.
  6. Digital – The surprising approach to a category that Cumulus is betting its future on. 

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Entercom to Slash Commissions

David Field loves the iHeart system of cutting commissions for top sales people.

And, yes, that’s what it has come down to.

Entercom badly needs to get revenue back up after its disastrous merger with CBS Radio and yet what he’s beginning to do is likely to have the opposite effect.

If you want to see what poor morale gets your sales department, look no further than Cumulus that lost many of its best sellers when the company sapped them from selling with corporate red tape and unnecessary procedures.

This trick that Field is going to pull – you’ll see the details in a moment – is his dream compensation strategy because iHeart does it and anything iHeart does, Field seems to want to do.

And second, because he will make more money and the sellers will make less.

Field is not a warm and fuzzy guy.  He doesn’t connect with employees because he makes all the money and they get nickel and dimed to death.

This plan being installed at some Entercom stations right now is the future for the entire merged company as well as dangerous temptation for other groups to follow.

Read the full article here

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