When Bad Things Happen to Good Radio

One of my readers broke down the bad news for me yesterday about the market capitalization of several radio companies.

Keep in mind that many radio stocks had already entered no man's land way in advance of the turbulent stock market. Capitalization is the price of the stock multiplied by the number of outstanding shares.

Citadel, for example, has a capitalization of $70 million. Keep in mind that they paid $2.7 billion (like in "b" billion) for ABC alone. Their debt ratio is through the roof.

Entercom comes in at $88 million. They are worth more than most radio groups but incredibly, not even worth $100 million&hellip