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As it assesses the buyout offer put on the table by a Jeff Warshaw-led private equity consortium, Cumulus Media is working with a team of financial and legal advisors. CFO
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Noble Media analyst Michael Kupinski was a lot freer to speak, and he told the conference that the deal as it is currently proposed is unlikely to be accepted. Kupinski said the offer is “well below” what he thinks Cumulus is worth.
We may hear more when the company releases their quarterly earnings next week.
But nobody involved is thinking about making format changes at individual stations. It will take years before anyone whittles down that far into all the stuff. This is all about money, not about music.
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