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
Recent Posts
- iHeart’s SiriusXM Non-Merger
- iHeart/SiriusXM Merger -- Seriously?
- Beasley Restructuring Reality Check
- The Mystery of the Disappearing Ratings
- Missing David Field
- Lenders Seize Control of Cumulus
- What iHeart Isn’t Saying
- “Pausing” Radio Stations
- Radio’s Smoking Gun
- Leadership Vacuum Backfiring at Saga