Audacy Misses on Revenue, Debt Soars
- Wall Street knows this in spite of a third quarter effort to sanitize disappointing financial results – their stock is now less than 25 cents away from being worth $2 – and that’s with the mighty former CBS assets included.
- Their financial crisis is being covered up by misleading the public comparing 3rd quarter revenue to the weakest comp in the radio industry’s history – the same three months of pandemic last year because when you dig into where they really are you can see the turmoil that is ahead for Audacy.
- They’ve made some bonehead moves to pump up the real numbers and it’s possible to compute the actual number Audacy has to earn to break even – that’s a number worth studying.
Read the full article here
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