To be really honest, no one knows what Cumulus is worth.

In fact, the new board of directors doesn’t even know because their CEO is using adjusted accounting figures (as other failing radio groups are doing) so they can’t see whether Cumulus is coming back strong or whether its insufficiencies are being covered up.

The bankruptcy court assigned a value to Cumulus when it emerged earlier last year and that’s it.

When I ask people familiar with Cumulus and with extensive background running radio companies to cut through the window dressing and get down to a fair value for Cumulus something strange happens.

Here are the clean numbers.

Read the full article now.

Nobody is making money in radio.

Unless you accept the new digital reality, radio’s impressive reach and free cash flow stream will no longer be enough to both pay debt and post significant profits.

Radio stations are becoming distressed properties.

That’s why it seems like almost every station is on the market right now with no buyers and fewer lenders.

Is this the time to buy into radio?

Read the full article now.

From the beginning of the Mary Berner regime there has been talk about if it could even be possible that a former publishing executive could turn around Cumulus Media.

She had no radio background and her time at Reader’s Digest was marked by two bankruptcies, one that she initiated and one that the board reluctantly refiled after she failed to turn the publishing giant around.

But Berner has lasted long enough to have her employment contract renewed, bonuses paid even with bankruptcy looming and a generous golden parachute agreed upon should she leave the employment of Cumulus.

And that’s the big question – will Berner stay or will she go?

One radio CEO has been IDed at reportedly pitching it and something appears to be up with the board.

Read the full article now.

I get that Bob Pittman has the credibility of a snake oil salesman.

But employees and anyone investing in or doing business with iHeart going forward are in for a big letdown and financial uncertainty.

Yes, the company is coming out of bankruptcy in a few months but as you’re about to read today all the company spin about a new iHeart is not going to happen.

Turns out Bain and iHeart made a big mistake and they are about to pay for it.

You wouldn’t admit this publicly, either, would you?

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            Lew Dickey’s New Non-radio Company

            iHeart’s Suitors

            #1 in Billboard with No Radio Airplay

            The Changing Station Buying/Selling Market

            Beasley’s Financial Troubles

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Today’s topics …

“Fake Local” is about to be replaced by “personalized” radio.  What’s that?

The end of bankruptcy, the beginning of uncertainty at iHeart

#1 in Billboard with NO radio airplay – how is this even possible?

Everything is for sale in radio.  So where are the buyers?

The reason John Malone has to have iHeart.  It’s not for radio

Why Wall Street is hating on Beasley

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Today’s topics …

The end of bankruptcy, the beginning of uncertainty at iHeart

#1 in Billboard with NO radio airplay – how is this even possible?

Everything is for sale in radio.  So where are the buyers?

The reason John Malone has to have iHeart.  It’s not for radio

Why Wall Street is hating on Beasley

Lew Dickey’s new company has a change of plans

Subscribers access all stories here.

Try a monthly or annual subscription here.

Today’s topics …

Everything is for sale in radio.  So where are the buyers?

The reason John Malone has to have iHeart.  Its not for the radio

Why Wall Street is hating on Beasley

Lew Dickey’s new company has a change of plans

Liberty wants to add 2 more media mergers to the iHeart takeover

CEOs publicly talk up radio’s future but secretly look to diversify

Subscribers access all stories here.

Try a monthly or annual subscription here.

Today’s topics …

Lew Dickey’s new company has a change of plans

Liberty wants to add 2 more media mergers to the iHeart takeover

CEOs publicly talk up radio’s future but secretly look to diversify

Are any radio groups safe?  These 3 are bullet proof

Entercom really is in trouble and, yes, David Field could even lose the company

Cumulus is now onboarding new people to fire a large number of existing employees

Subscribers access all stories here.

Try a monthly or annual subscription here.

Today’s topics …

Are any radio groups safe? These 3 are bullet proof

Entercom really is in trouble and, yes, David Field could even lose the company

Cumulus Is now onboarding new people to fire a large number of existing employees

While Cumulus was pivoting to digital, Westwood One just got hit with major defections

The 80’s infusion – is adding more 80’s music working out?

Townsquare’s demise – what it means

Subscribers access all stories here.

Try a monthly or annual subscription here.

Today’s topics …

Entercom really is in trouble and, yes, David Field could even lose the company

Cumulus is now onboarding new people to fire a large number of existing employees

While Cumulus was pivoting to digital, Westwood One just got hit with major defections

The 80’s Infusion – is adding more 80’s music working out?

Townsquare’s demise – what it means

Liberty Media’s iHeart play

Subscribers access all stories here.

Try a monthly or annual subscription here.

Today’s topics …

Cumulus is now onboarding new people to fire a large number of existing employees

While Cumulus was pivoting to digital, Westwood One just got hit with major defections

The 80’s infusion – is adding more 80’s music working out

Townsquare’s demise – what it means

Liberty Media’s iHeart play

Radio predictions for 2019

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Today’s topics …

While Cumulus was pivoting to digital, Westwood One just got hit with major defections

First look at how adding more 80’s music is affecting listeners

Townsquare’s Demise – What it means

Liberty Media’s iHeart play

What radio will look like by December

Soft AC “Breeze” projected ratings

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Today’s topics …

Townsquare’s Demise – What It Means

Liberty Media’s iHeart Play

Radio Predictions for 2019

Soft AC “Breeze” Projected Ratings

Entercom News & Sports Downsizing

Alpha Media’s Selloff Plan

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Beasley, Cumulus, Townsquare and even Entercom have the most to lose because Liberty isn’t just looking to takeover iHeart, it’s thinking even bigger.

Read more >>

_________________________________________________________________________

Scary Predictions for 2019

80% came true last year so what’s ahead for a music performance tax, Mary Berner, Lew Dickey, The Breeze, Entercom’s comeback, 3 groups resorting to auctioning stations, podcasting, voice-activated listening and Spotify. 

Read more >>

_________________________________________________________________________

Projected Ratings of Soft AC “Breeze” Format

PDs tracking early meter results show “The Breeze” is killing it.  But unfortunately, Air Supply and friends appear to be killing the wrong thing.

Read more >>

_________________________________________________________________________

Entercom’s Salary Dump

David Field promised Wall Street Entercom would save $110 million in shared expenses after the CBS merger.  As 2019 starts, he’s only half way there.  As revenue declines, this promises to get ugly.

 Read more >>

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