The CUMULUS MEDIA Board of Directors named MARY G. BERNER CEO of the company, just two weeks ago (NET NEWS 9/29). That appointment is effective TODAY (10/13). BERNER joined the CUMULUS board this past MAY. She succeeds LEW DICKEY, the company's Founder/CEO, who will continue to serve as Vice Chairman and as a director of the company.
BERNER is now perched atop the CUMULUS MEDIA Leadership page on the company website which writes:
"MARY BERNER became Chief Executive Officer of CUMULUS MEDIA, INC. in OCTOBER 2015. Over more than three decades, she has established a track record of leading media companies to deliver strong financial performance and growth. Prior to joining CUMULUS, BERNER served as President and CEO of MPA -- THE ASSOCIATION OF MAGAZINE MEDIA where she leveraged her deep understanding of media to aggressively champion the magazine media industry. In recognition of her work, Ms. BERNER was named one of the Top Women in Media by FOLIO MAGAZINE in 2014.
"Ms. BERNER also previously served as Chief Executive Officer of READER’S DIGEST ASSOCIATION where she developed and executed a successful turnaround strategy, oversaw the restructuring of the company’s acquisition-related debt and the subsequent doubling of the company’s stock price, and optimized its brands and assets including through the development of new digital revenue streams. Under her direction, the $2 billion global media and direct marketing company launched 83 websites and 31 mobile apps, and built Allrecipes into the world’s largest food website.
I like the relationship they have with Crestview. Crestview owns 1/4 of the shares. This seems to be the direction they want the company to go, so I have high hopes. Got in around .82. Best of luck to you.
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well they didnt sh--can the ceo because the CO. was doing so great,,,,,im a big believer in fm/am is here to stay along with there rdio investment ,,,,but i have lost 10 s of thousands of dollars thinking it cant go any lower it can,,,,,hopefully this gal can pull a rabbitt out of a hat,,,goodluck to all!!!
I think because for so many years, Lew's management was not good. You could get away with "not good" radio station management 20 years ago, as there was so little competition. You could sorta print money and if a station was not working, you called in a simpleton consultant and switched formats.
They got thinking they knew what they were doing, borrowed too much, and had not a clue what to do when the economy went south and the industry kept changing. Furthermore, I dont think any of the upper management really loved radio, in the way that people who make it interesting love it.
When times got even tougher this year, Lew kept selling stock, which further depressed everyone else.
They also paid for all the radio assets from Dial Global mess, and did not have a bigger picture of what those assets were or how to take advantage of that legacy.
It usually is the day after earnings I believe. At that point any executive can purchase. Lets hope Crestview and the New CEO both put down some money.
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This company is making money..... Next year even better, according to the 8 analysts on Yahoo...Why is this company getting battered to 52 week lows?????
lets hope it is not stock spit, because it would have to be a reverse split to get share price up. I hope Crestview buys a #$%$ ton more after the blackout period is over.That will move us aboe a buck.
I think we see news in less than 2 weeks. Cumulus stock dropped under a dollar September 18th. 30 days under a dollar and I think they get delisted. So I think we either see a stock split or something great upcoming news that will rise the pps. Place your bets.
The men you mentioned are all American heroes. Pointing out on a daily basis the constant criminality of the biggest fraud and POS that we have ever had in the WH. But none of that has anything to do with CMLS. CMLS is down because the economy is slipping and they have approx. $2.0B in DEBT versus a market cap of $160M. It must suck to go through life filled with your hatred and your stupidity combined.
Ha! You know everything about each of the shows you hate. Because you listen.
Cumulus has a lot of different properties that have nothing to do with politics. But you enjoy listening to El Rushbo.
Listening to a morbidly obese man call black people 'thugs' every 2 seconds isn't entertainment. Listening to hannity cry about benghazi and hilary's emails for an hour every weekday for two and a half years isn't entertainment. Listening to mark levin call obama an 'isl@mo-n@zi' tens of thousands of times isn't entertainment. None of it is entertainment, it is pure hatred.
If you invest in trash, your returns will be trash, as the longs have discovered.