Among brokers, the word is that almost every radio station is for sale.

That’s an over exaggeration, but it points to the desperate situation facing owners of radio stations.

The question is:  with few buyers and an industry that has been trending downward in revenue, what happens if owners who have to sell can’t find a buyer?

• Panicked sellers can’t find buyers – here’s their 3 other options.
• Why so many station owners want out so badly.
• Prices are going down and still no buyers – what’s up with that?
• No sale, no problem – look at the radio station of the future if owners have to keep them.
• The one way sellers can find a buyer this minute – today – without lowering their prices – so why are they refusing.

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Analysts may be starting to see things my way as it relates to Entercom.

Their stock price has been sinking from a $16 high before the CBS Radio acquisition to within a quarter from being a $4 stock as of close yesterday.

And that means institutional buyers may either be forbidden from investing in “ETM” by their own rules or because they have increasing concern.

Either way the CBS merger is appearing to be the bust we called it from outset and evidence of incompetence are everywhere around the company’s attempt to clean up their mess.

• Even Wall Street is starting to turn on Entercom – their reasons, concerns, eye-popping quotes.
• What one thing that almost nobody in radio can name is worrying the financial community the most about Entercom.
• Previously untold details of how Entercom staves off the dumping of their stock – and it’s all legal if not deceiving.
• Surprising doubts percolating from fans of David Field concerning Entercom’s growth plan.
• Real concerns about the all-news stations Entercom bought from CBS Radio – identified and analyzed.

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Jerry will appear with Lew & John Dickey together on stage at the 2019 Conclave in Minneapolis June 20^thin 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.

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.

Read the full article 

Compare monthly vs. annual subscriptions here

Report news in confidence here.

Jerry will appear with Lew & John Dickey together on stage at the 2019 Conclave in Minneapolis June 20^thin 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.