I thought Cumulus was between a rock and a hard place.
The “victory lap” and turnaround that they are selling this week is far from that. In fact, Cumulus is still in a precarious position unless it gets to choose its own facts.
That they were forced to sell iconic WPLJ-FM, New York and other major market properties to EMF for a lot less than they were worth is not the win-win they are trying to sell the public.
Who calls selling major market stations a win-win when you essentially vacate a market?
After all, they must have needed the money to remain as a going concern.
Cumulus sold those valuable assets for virtually nothing not to keep operating or investing in future businesses as they tried to spin it to the public.
You could almost forgive and understand that.
Mary could now use the proceeds to fund her wall – I mean, her podcasting business.
But it’s worse.
Is Mary Berner even still calling the shots?
Remember this name – Paul Stone.
Where is the $103.5 million EMF check really going?
Are more Cumulus stations being readied for sale?
- Townsquare’s a Takeover Target
- Cutbacks On Deck for Entercom
- Katz Strong-arming Stations
- Panic at Entercom
- Nielsen’s Overnight Ratings
- The Emmis, Beasley, Urban One Deals
- Entercom’s Expense Cutting Shortfall
- Radio’s 3 New Rising Competitors
- The Liberty Takeover of iHeart
- Investors Growing Impatient with Entercom