Wall Street loves a loser.
Cumulus first quarter results were down 23.8% but their stock closed UP last week.
iHeart was down 21% year over year and their stock went UP almost $3.
Audacy went down 19% and their stock only lost 20 cents in shareholder value.
Apparently, there is money to be made when companies claw their way to the bottom and now after sprucing up the radio sector’s worst numbers, Proud Mary Berner is predicting a big comeback in the next quarter.
Something is wrong here so I asked radio executives familiar with Cumulus operations and some competitors to weigh in on their chances to remain solvent.
Do you have information you want to share with Jerry confidentially? Email him privately here
- Format Flips Are Alarmingly Increasing
- Townsquare Crushing iHeart in Miller Kaplans
- Ex-Audacy San Diego Employees Tell All
- Sellers Are Virtually Giving Away Their Stations
- Ex-Employee Outs Abusive Workplace at Audacy
- Owners Bailing on Radio as a Standalone Business
- The New iHeart Office Plans for 50% Staff Reduction
- 27 Audacy Employees Exit in One Market Alone
- iHeart: White People Need Not Apply
- Local Ad Growth Warning