Won't go to $3....Maybe down to $3.25 though.......That's the bottom. However, if Oil goes below $15, WLL will be south or 1 buck!
Expecting he will be getting out now
"From the start of her tenure as Cumulus Media CEO last year, Mary Berner pledged to shift station decision-making from the corporate level to the local markets. Yesterday the company announced it had changed reporting structure with local program directors now reporting directly to market managers and given control over day-to-day programming of stations.
Local programmers and operations managers report directly to their market managers, who in turn report to a senior VP. The newly expanded office of programming is positioned “to the side of that,” according to senior VP, content and programming, Mike McVay, “to be a resource activated by the market manager or the SVP.” One of the goals is to better “connect the dots” between programming and sales on the local level.
For her part, Berner says no one knows their markets better than the people who live and work there. “We believe that the injection of more local insight and more effective corporate support into our programming decisions will drive improved ratings outcomes for our stations,” Berner said in a news release. During the past three months, since it first began to allow more local autonomy in decision-making, McVay says the company has improved its ratings in New York, Minneapolis, Dallas and other markets. “We’re seeing ratings growth in the last three months and we expect that to continue,” he says.
You are 100% correct. As for the debt they have plenty of time to pay it down. Just last month they took 64M off the table (2020 debt) by paying 50M and pocketing 14M. Asset sales from two properties this year will knock off another 200M. I'm sure they have lots of other ideas also. Cumulus has many, many, years to work down the debt (2019 "first" line in the sand). Time is on their side. As for Crestview, I see them scooping up all the shares they can when the window opens up. I believe it's 4 times a year, once a quarter. (insider SEC rules). Next window is mid February.
And don't forget...Crestview is an insider! Why would Crestview keep buying up CMLS shares. At these prices they probably want more, but I think there are limits. SEC rules...I think.
Got to go with the BIGGEST bang for the buck!
BTW......Thanks for the laughs!