Since I reported that Cumulus and/or Lew Dickey could be involved in picking up some CBS Radio stations, their stock has increased by over 40% although it has given back some of the increases.
You’ve got to appreciate how piss poor Cumulus stock had been performing.
Over the last year it was worth a mere quarter and some change.
Then CEO Mary Berner executed (a bad word, sorry) a reverse stock split and the stock price was artificially increased to several dollars.
Until the bottom fell out.
And on November 10th Cumulus was worth a dollar again even after the one for eight reverse split.
Panic set in.
And now, the market – which never lies because greedy bastards are like the canary in the coalmine when it comes to protecting their financial investments --- is speaking to us.
It must be the prospect of buying some CBS stations or Lew Dickey riding to the rescue of the company he tanked.
But that’s not all.
When greedy bastards speak (with their money), Jerry listens.
Something big is up.
Something not already known that investors feel in their greedy little hands.
It could only be one thing.
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- The CBS Merger in Trouble
- The Fate of Walker & Milner at Cumulus
- Townsquare's Rescue Plan
- The Surprise Entercom/CBS Spin-off Buyer
- Less than 2 Months Cash Left at iHeart
- Crackdown on Cumulus Market Managers
- iHeart -- Low on Operational Cash
- Entercom-CBS DOJ Desperation
- Cumulus Cutting Employees’ Pay
- The Acquisition Entercom Does After the CBS Merger