Impairment of intangible assets and goodwill (565M) in the 3rd qtr. That write down did not affect cash on hand or cash flow. Actually, cash on had was UP in the third qtr. As for 2019/2020 that is 3-4 years away and that's a "very" long time and plenty of time for a company to fix itself. I'm not an insider and don't know the specifics going on inside Cumulus. But, in the past few months debt is being worked on. Dec debt payment and today's announcement. And expect plenty more to come. Other knows, about 200M of property sells within a year...expect that to go directly to debt.
You need to understand what you are talking about. The $465M loss was "fluff" dollars (Rdio right down). It did not affect the cash or cash flow. You can bet that Mary will have great solutions going forward. You need to look forward and not in the rears. 2019/2020 is a long way off and "plenty" of time to right this ship!
"bleak picture" / "bk plan". Not sure what conference call you listened to but, if it was Cumulus you might want to take the wax out of your ears and listen to it again.
I always thought there was a limit on the % they can accumulate per quarter. I hope I'm wrong (sounds like I am) and they can buy as much as their bank account can handle!
Not sure what call you were listening to, but it sure wasn't the call I was on. Why sell a growth engine (WestWoodOne)? They aren't concerted about the delisting. Expect at least a 6 month extension after May 2nd. That's how it works. Just as long as they have a plan, and they do! You might want to "re-listen" to the conference call.
Did you expect things to be good, given 3 months? 2 More quarters and you will see a drastic turn around in both Cumulus as a Company and it's stock price.