Should be interesting to hear how 2nd Qtr Sales were for Cumulus. Since they have to attack Rush & Hannity... must mean sales are down and it's all their fault rather than Cumulus's. Remember Lew Dickey said at the end of the 1st Qtr that things were looking really good for a strong 2nd Qtr. Since he's attacking Talk Radio again.... 2nd Qtr must be flat or down.
It's a lot easier to plug in an all sports network and have no salaries. Throw together some sales gimmick out of Atlanta for a National Sales Platform for sports. Ratings don't matter.... get rid of expensive salaries and put in cheap programming. Cumulus need's to paydown their debt as their sinking in it.
Here's the problem.... Lew Dickey will not make his number to show a profit in Qtr 1 so he decides to throw out an attack on Rush over the weekend. He will use this excuse again when they go over why they didn't reach the targeted goals for Qtr 1. Truth be told.... Lew Dickey hasn't made a profit... even during the Good Years in Radio. He's now looking at trying to buy CBS Radio and roll his debt into that company like he did when they bought Citadel. Keep kicking the can down the road.... pretty soon there will be nothing left of the can.
I would sell this stock today and stay far & away from this radio stock.