Musings, observations, and written works from the publisher of Eckhartz Press, the media critic for the Illinois Entertainer, host of Minutia Men, and the writer of "The Living Wills", "$everance," "Just One Bad Century," "Father Knows Nothing," "The Radio Producer's Handbook," and "Records Truly Is My Middle Name"
Friday, March 10, 2017
How bad is the financial situation at Cumulus broadcasting? From Tom Taylor's NOW column...
Cumulus stock closes at 53 cents, though at least the volume was much less than normal. The clock is ticking on the NASDAQ’s $1-minimum closing-price rule, and that’s got to be a concern. “CMLS” stock closed yesterday at 52.5 cents, down 5.5% cents, or nearly 10%. At Thursday’s closing price, the Cumulus market cap is less than $15.4 million.