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Audacy/Cumulus Rumors

JJSPC said:
Will be time to shut off some more AM's and secondary FM's again soon.
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I believe the lenders want paid more than the company showing a "profit". Reducing positive cash flow will not help to pay debt. They should be in a "cash survival" mode. One would hope they have already shut down the negative cash flow operations. If the advertising income of a station covers all cash expenses and generates cash they have to keep it operational. I bet their "in-house accountants" are very busy.

*In the past corporations could "sell" tax loses. If they revist court again IMHO: they sould come out as an private LLC with the debt holders getting all the equity in exchange for part or all their debt. Then they could take the paper losses directly off their taxes.
 
From Lance's article:

In particular we’ve been told that the company’s Digital Sales departments have received significant cuts.
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Obviously we don't know recent details for Audacy since they are now a private company, but that sets off some alarm bells. Across the industry, digital sales have been a bright spot. If that's no longer the case, the story for radio companies is even more bleak.
 
PTBoardOp93 said:
Across the industry, digital sales have been a bright spot. If that's no longer the case, the story for radio companies is even more bleak.
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It's a good point if Audacy was committed to digital content. Compare the digital footprint at WINS to WTOP.

Perhaps this is a response to digital sales at Audacy being lower than they are at other similar companies.
 
TheBigA said:
It's a good point if Audacy was committed to digital content. Compare the digital footprint at WINS to WTOP.

Perhaps this is a response to digital sales at Audacy being lower than they are at other similar companies.
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There's a big difference between DIGITAL CONTENT and DIGITAL SALES.

Digital Sales are those selling packages that include social media, third party FAST TV, and the like. What Audacy is doing is consolidating to having all sales people sell those instead of dedicated digital sales teams.
 
More details are emerging in the rumors about Audacy & Cumulus merging. The lawsuit between Jeff Warshaw & Soros Management alleges that at one point in 2023, an investor in Cumulus was going to buy Audacy debt. That debt was ultimately bought by Soros.

www.insideradio.com

Cumulus Media Claims Become Flashpoint In Warshaw–Soros Lawsuit.

Did Cumulus nearly merge with Audacy three years ago? And did that potential deal have a role in how the Soros Fund Management wound up with control of Audacy? Those
www.insideradio.com www.insideradio.com

Prior to this, Warshaw made a bid to buy Cumulus. That bid was turned down.
 


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