A few conference calls ago, Lew “Tricky” Dickey told the world that he was going to hire a search firm to find a non-family member to join the Cumulus executive team.
We were led to believe that his board instructed him to do it.
But months later, no non-Dickey was hired.
No outsider joining the company.
Instead the same old same old regional firewall that Lew Dickey controls – a bunch of puppet managers jumping to his every command.
So the question is with the company $2.5 billion in debt and the stock in the toilet, how close is Lew Dickey from getting laid off?
I laughed in disbelief when I first heard of the notion.
But investors are in no mood to lose their money on empty promises.
If you’re already a subscriber, thank you for joining our group. Just click through and unlock the content.
If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.
- Why the Cumulus board never really asked Lew Dickey to hire a non-Dickey to join the company – they have plans of their own.
- All you hear about is the managers the Dickeys fire, but there is a bigger problem – they can only find retreads to fill key positions.
- Once the fair-haired boy of Cumulus – the one reason why investors might make a change at the top if 2015 continues to get away from Lew.
- Think the board hasn’t been thinking about replacing Lew? Check out this Golden Parachute. This is a serious separation package.
- Prepare for a major Hail Mary to save the company before investors’ money is wiped out any further.
The answers start here.
If you would like to read this story, see an option to gain access to my entire archive of 2,976 pieces and get daily email delivery, see your choices here …
Report news here.
Talk to Jerry privately here.
Reserve a seat for my Philly Conference one week from today – here.
Sign up to get these teasers every day for free here
About Inside Music Media: Read by more people than any other media newsletter of its kind. Contains no advertising. Is insightful, deadly honest, entertaining and informative. Accepts no corporate money. And is beholden only to subscribers.
- Audacy’s Troubled Bankruptcy Talks
- The Fix is in for Radio Boards of Directors
- A Surprising Winner in Post-Pandemic Radio Revenue
- Radio’s Cash Infusion Secrets
- One Side Ready to Blink in Audacy Bankruptcy
- What if Audacy Employees Threaten to Leave Unless Board Quits
- Unraveling at Urban One
- iHeart Trade/Barter Secrets
- New Cash Crisis at Audacy
- What iHeart Is Covering Up