Hi there, Jerry here. Disturbing news from Cumulus as revenue tanks 11.5%, another quarter, another big miss. Yes, more layoffs, cutbacks, firing market managers prevent paying bonuses but it’s even worse. We dive into it and the serious repercussions it has on the company and other nervous radio groups.
CEO Berner is planning another Reader’s Digest-type bankruptcy but lenders are in ill-humor and demanding huge concessions. You can bet Urban One, Beasley and Salem are glued to Cumulus.
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