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BAD NEWS FOR FURMAN AND THE 895

M

midwestxfiles

Guest
Cumulus Media is the latest broadcaster to go the private equity buyout route. The radio company announced this morning that it has agreed to be bought for 1.3 billion bucks by an investor group affiliated with Merrill Lynch Global Private Equity. Founder and CEO Lew Dickey is also a lead partner in the group, which proposes to buy out public shareholders for 11.75 per share, a 40.4% premium over Friday's closing price. The going-private transaction has been endorsed by the independent directors of the Cumulus board.

Added debt service is never a good thing.

So what does this mean? It means all the talk about adding more and more people for StooperTalk, a station that is approaching its first year anniversary with no ratings and few commercials will now fall further into irrelevancy.

The 895 didn't see this one coming!
 
Will the swap for Q102 and WSWD take place before this sale?
 
I don't expect you to know the facts mr. midwest, but the former Susquehanna stations are not involved in this. That's CMP Susquehanna
 
midwestxfiles said:
Cumulus Media is the latest broadcaster to go the private equity buyout route. The radio company announced this morning that it has agreed to be bought for 1.3 billion bucks by an investor group affiliated with Merrill Lynch Global Private Equity. Founder and CEO Lew Dickey is also a lead partner in the group, which proposes to buy out public shareholders for 11.75 per share, a 40.4% premium over Friday's closing price. The going-private transaction has been endorsed by the independent directors of the Cumulus board.

Added debt service is never a good thing.

So what does this mean? It means all the talk about adding more and more people for StooperTalk, a station that is approaching its first year anniversary with no ratings and few commercials will now fall further into irrelevancy.

The 895 didn't see this one coming!
Click to expand...

How is that any different than the Clear Channel Private Equity buyout that at last check seems to have stalled out? Also you are wrong about added debt never being a good thing. There is a tax benefit to business debt, plus the ideal is that the money borrowed for the added debt will create more profits. Its basic business.
 
Elephant said:
I don't expect you to know the facts mr. midwest, but the former Susquehanna stations are not involved in this. That's CMP Susquehanna
Click to expand...

Facts generally don't matter to someone who is in such dire need of medication. 8)
 
Elephant said:
I don't expect you to know the facts mr. midwest, but the former Susquehanna stations are not involved in this. That's CMP Susquehanna
Click to expand...
The Business Journal reported yesterday (not that it means anything) that the stations included in the sale were WRRM, MOJO, and 96-5 The Star. LOL
Looks like they need to hire a proofreader.
 
i must say, as a defender of 965 from the start, i haven't listened to more than 5min in the last month or so. The Sound is just too freaking great. that station continues to amaze me, though with the addition of a few hack-jocks to muck up the music, it's lost a few points with me and the wife. quit yapp'n and play the music!!!

anyway...i did tune in yesterday during my drive home only to cringe when angie read the traffic sponsored by "do your shar for cleaner air"! D'oh!
 
I agree. I dont think Furman needs those extra voices in the studio.
 
midwestxfiles said:
Cumulus Media is the latest broadcaster to go the private equity buyout route. The radio company announced this morning that it has agreed to be bought for 1.3 billion bucks by an investor group affiliated with Merrill Lynch Global Private Equity. Founder and CEO Lew Dickey is also a lead partner in the group, which proposes to buy out public shareholders for 11.75 per share, a 40.4% premium over Friday's closing price. The going-private transaction has been endorsed by the independent directors of the Cumulus board.
Click to expand...

Execs want to take Cumulus Media private

http://www.ajc.com/search/content/business/stories/2007/07/23/cumulus0724.html
 
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