Cumulus Media, in the words of President/CEO Mary Berner, entered March with a strong financial performance, along with “a favorable capital structure and significant liquidity.”
Then came the novel coronavirus, and a severe economic downturn that heavily impacted a variety of industries — including broadcast media. While Cumulus took swift actions Berner believes will help the audio media company “weather the adverse impacts of the pandemic,” its Q1 financial portrait looks as battered as a coastal community following the arrival of a Category 5 hurricane.
