Cumulus Media on Tuesday morning released its fourth quarter earnings report. On its surface, it is a downbeat assessment of the audio content creation and distribution company’s final three months of 2023, as net revenue was down by some $30 million year-over-year. A $65 million-plus non-cash impairment charge on its station licenses was also seen.
But, is there more to the story, as Cumulus registered higher expenses and saw its net loss significantly widen in the fourth quarter of last year?
