What the Hell is going on with Regent?
The recent stockholder fight resulted in additional members added to the board of directors. Since that time, Regent has sold off several radio stations, and has cut back at others.
According to their 3rd quarter report, revenues were up nearly 25% for the quarter, but the company had a net loss of $1.3-million for the quarter. The biggest change in expenses was interest payments - up $2.5-million dollars in the quarter, and up over $8-million for the year. That's nearly a 3-fold increase. Who the heck are they borrowing from - Simon Legree?
It seems to me that there might be a problem with upper management here.
The recent stockholder fight resulted in additional members added to the board of directors. Since that time, Regent has sold off several radio stations, and has cut back at others.
According to their 3rd quarter report, revenues were up nearly 25% for the quarter, but the company had a net loss of $1.3-million for the quarter. The biggest change in expenses was interest payments - up $2.5-million dollars in the quarter, and up over $8-million for the year. That's nearly a 3-fold increase. Who the heck are they borrowing from - Simon Legree?
It seems to me that there might be a problem with upper management here.