Proud Mary is back to playing her A game.
Claiming that she has turned Cumulus around but the assertion appears to have no relationship to the facts according to people familiar with the internal workings of Cumulus.
The truth is – Cumulus is not a turnaround, it is a very troubled company.
Just because Mary Berner says it is so does not make it so and that is backed up by facts.
The happy talk radio trade press fell for Cumulus proclaiming a “victory lap” although the facts suggest a weakened company that is misleading the public as to the seriousness of their situation.
Here are the facts from financial people close to Cumulus based on their recently filed 10-K.
- How financial experts close to Cumulus debunk dubious company claims of a financial turnaround.
- Cumulus says revenue is up – here are the real results with specific figures.
- What is the truth about Cumulus’ cash flow based on correct numbers.
- How bad is their debt – a critical indicator of future performance is revealed.
- What to watch to predict more station and asset sales like the ones to EMF for quick cash and low return.
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Jerry will appear with Lew & John Dickey together on stage at the 2019 Conclave in Minneapolis June 20thin a deadly honest conversation about Cumulus and the future of the radio focusing on growth opportunities for radio people in the new modern media. Details here.