As predicted, Cumulus CEO Mary Berner allowed CFO John Abbot to fall on his sword yesterday and leave the company.
No immediate replacement is being named.
All of this plus Cumulus’ increasing tendency to adjust revenue figures and “paint lipstick on a pig” has led to speculation that either Abbot won’t put up with it any longer and he resigned or Abbot wouldn’t put up with it any longer and his contract was not renewed.
In either case, investors should be prying their eyes wide open on this one because it means something more than just a personnel change.
In spite of Berner’s happy talk about Abbot no longer having to make the long commute to Atlanta, the real story is scary different.
Recent Posts
- Inside iHeart’s Barter Machine
- The Audience That Stayed
- Foreigners to Radio’s Rescue
- Should Radio Demand a Button on the Digital Dashboard?
- What Everyone Is Missing at Cumulus
- Independent Owners Retirement Crisis
- Are Beasley’s Major Markets Next
- The Plan for Westwood One
- Listener Supported Commercial Stations
- Bye Bye Market Managers