Jim "Radio Is Dead" Cramer Suggests Buying Stock In Radio!

[DToTheJ]

You may recall a couple of years ago how Jim Cramer had said that "radio as we know it is dead" (original thread in this forum can be found here).

Apparently, either Jimbo has gone back on his word, or ran out of stocks to talk about.

I did not see his CNBC show "Mad Money" tonight, but one of my radio pals on Facebook has, and here is what he is reporting Cramer has said on tonight's show, via Facebook status:

"Jim Cramer just declared that radio is coming back thanks to election $$$ being spent this year for the November election. He's recommending Entercom (ETM). That loud noise you hear is me laughing hysterically."

Yeah, me, too, for Cramer apparently flip-flopping.

 

[Fake_Lew]

It's about time Cramer got it right.

 

[TheBigA]

Jim was one of those who continued to extol the virtues of Sirius, and how the merger with XM was going to lead to huge profits and huge payoffs for stockholders. He continued to beat the drum for Mel and his gang as the stock continued to drop. Taking stock advice from Jim Cramer is like taking political advice from Glen Beck.

 

[Element9]

Jim was one of those who continued to extol the virtues of Sirius, and how the merger with XM was going to lead to huge profits and huge payoffs for stockholders. He continued to beat the drum for Mel and his gang as the stock continued to drop. Taking stock advice from Jim Cramer is like taking political advice from Glen Beck.

Good analogy. I'd have included Ben Stein in the list of gum bangers gone awry. Stein, the economic savant, was braying about the housing bubble having no significance or impact on the economy. Unlike Beck, at least Cramer has bona fides in the market, experience and a JD. Yes, and Stein has a wall full of degrees as well. Still, he's a shmuck. And his commercials suck, too. Apparently, Aurelius Capital Management has some motive to buy shares of Citadel.

The Wall Street Journal reports Citadel's scale-skinned CEO isn't too happy about being challenged by one of his own species known as Aurelius Capital Management.

RBR.com reports: "Citadel Broadcasting Corporation has asked the judge overseeing its Chapter 11 bankruptcy proceeding to void stock purchases by Aurelis Capital Management and other entities associated with its Senior Managing Member, Mark Brodsky ... Aurelis disclosed in an SEC filing that since late March it has acquired 16.7 million shares of Citadel’s common stock for a total of $1,213,477.13. That’s an average of just under 7.3 cents per share." If nothing else, Aurelius bumped up Citadel's share price.