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Cumulus Announces Sale of Binghamton Stations to Townsquare

B

bmcglynn

Just noticed that Townsquare will be acquiring Binghamton stations from Cumulus as part of a sale/swap. Should be interesting in that Townsquare controls a few stations in the periphery of Binghamton.

Brian
 
Joy.....haven't done much with the NJ properties. Would be interesting to see if they do anything with Wild, Hawk, The Whale, WNBF, and WYOS.
 
"De-leveraging of our balance sheet."

Radio-Info said:
Townsquare Media is acquiring the Cumulus clusters in Augusta-Waterville (Maine), Bangor, Binghamton, Bismarck, Grand Junction, Killeen-Temple, New Bedford, Odessa-Midland, Presque Isle, Sioux Falls and Tuscaloosa. Cumulus gains the Townsquare Media clusters in Bloomington, Illinois and Peoria, and there's $116 million in cash involved, as well.

Townsquare's Steven Price says "this transaction represents a continued investment in the local media business in small and mid-sized markets." Cumulus CEO Lew Dickey says the deal "represents strategic portfolio management which enables us to focus on accretive large market consolidation as well as further de-leveraging of our balance sheet."
Click to expand...

Could Syracuse and/or Buffalo be on the Cumulus De-leveraging Hit List?
 
Seltzer said:
I suspect this will be an improvement over time.
Click to expand...

It will be a HUGE improvement. Cumulus is a notorious slash-and-burn operation. They are running Wilkes-Barre without a local engineer for FIVE stations (one of them a rather unstable directional AM) and I understand that Binghamton likewise has no engineer on site, despite the presence of two directional AM stations that are very engineering-intensive...the Cumulus engineer in Allentown, who is a computer geek, rather than an old-school radio guy, is running everything from Binghamton to Ephrata, PA (Lancaster County). WARM was off the air for three days a couple of weeks ago!

Cumulus is also a revolving door for salespeople, whom they tie up with senseless conference calls and meetings instead of letting them go out on the street to bring in revenue and service their accounts.
 
Binghamton has a mess of part-time people that do/help out in engineering. Seems to be working ok so far. That was set up in the Citadel days and not something Cumulus did. At least when Cumulus came through Binghamton they didn't lay anyone off. Which was very rare. Not that there really was anyone to lay off.
 
bingradio1290 said:
Binghamton has a mess of part-time people that do/help out in engineering. Seems to be working ok so far. That was set up in the Citadel days and not something Cumulus did. At least when Cumulus came through Binghamton they didn't lay anyone off. Which was very rare. Not that there really was anyone to lay off.
Click to expand...

I agree wholeheartedly!
 
Overall, I expect that Town Square will be an improvement over Cumu-less. Town Square is a much less top-down kind of company. At least that's how the folks at both groups here in Buffalo see it.
 
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