• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Cumulus selling 55 of its stations....

Well, it could in the sense that they offloaded a bunch of small market stations and got north of $100 million for them. They could invest that money into improving their product in Atlanta and other big markets. Granted, I'm not holding my breath for that (and I don't recommend you do so either!), but you get the idea.
 
Kent said:
Well, it could in the sense that they offloaded a bunch of small market stations and got north of $100 million for them. They could invest that money into improving their product in Atlanta and other big markets. Granted, I'm not holding my breath for that (and I don't recommend you do so either!), but you get the idea.
Click to expand...
...or they could use the cash in their ongoing pursuit of Lincoln Financial Media, which would affect Q100 in a big way.
 
That's assuming the $116 Million doesn't need to pay back any banks. There must be money owed on those stations unless radio stations are paying their monthly nut with stock options.

This company is still fairly new to be able to own any of their own notes.
 
I think "reducing debt" was mentioned somewhere in one of the reports I looked at this AM. Is any of the debt is revolving or is it mostly fixed notes. IIRC they pretty much refinanced everything when they took on Citadel. There might (most likely) be some covenants that require them to pay down the debt when assets (radio properties) are sold. If the sale price is more than 10X the positive cash flow these clusters are generating it could be a good thing for Cumulus.
 
I know they refi'ed a bunch of debt when they absorbed Cumulus Radio Partners (the old Susquehanna) and Citadel. Didn't they also sell off some equity in the process (maybe as part of the formation of Cumulus Radio Investors???) to retire some debt?
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom