Lew Dickey didn’t spend $260 million for Westwood One only to see it wither away like this.
Mary Berner all but announced everything is for sale at Cumulus publicly (except Dallas) but she artfully stayed away from commenting on the big elephant in the room – their underperforming radio network.
No statement of support and continued ownership.
No growth plans other than previously mentioned podcasting rep deals.
No sale sign.
Yet Westwood One has two big insurmountable problems begging the question – what are the Cumulus lenders currently overseeing the company going to do with Westwood One.
Are there any interested buyers remaining?
Why is their profit shrinking faster than anticipated?
Is there a plan for shedding Westwood One entirely in a breakup?
The mixed signals as described by those behind the scenes.
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