Flat Net Revenue Clouded By Chapter 11 Talk At Cumulus


Chapter 11. 

It’s now a possibility at the second-biggest radio broadcasting company by number of stations, based on comments made by CFO John Abbot during Cumulus Media‘s Q3 2017 earnings call held prior to Thursday’s Opening Bell on Wall Street.

While consolidated net revenue was statistically flat, moving to $287.24 million, from $286.14 million, consolidated net income slid by 97.2%, to $1.27 million (4 cents per share) from $46.3 million ($1.58).

“Regardless of the path forward, we have ample cash to operate our business.”

That statement came from Cumulus President/CEO Mary Berner ahead of the company’s Q3 earnings call.

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