Cumulus Delisted From NASDAQ

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More bad news for Cumulus. On Tuesday, the company received notification from the NASDAQ indicating that, as a result of the company’s noncompliance with NASDAQ listing rules, the company has been delisted and will no longer trade on that exchange, effective immediately.

Cumulus announced as of Wednesday its stock (which was $0.27 Tuesday) will now trade on the OTC market under the same ticker – CMLS. The company said, “other than being on a different exchange, this has absolutely no impact on our business.”

In addition to the delisting, Cumulus is trying to refinance $2 billion in debt and recently decided to skip a $23.6 million interest payment due on November 1.

3 COMMENTS

  1. Over and Out! Welcome to 2018 and the end of the line for most of their stations. And personnel.

    AND Goodbye Radio.

    Radio. A 21st century fax machine. Remember that short lived form of communication. Obsolete just like radio.

    Good Luck!

    • Sounds like wishful thinking. I’ve watched several companies get de-listed and even go through bankruptcy, and none of them lost stations or employees. The only thing they lost was debt. The reality is that radio is still the cheapest, easies, and most efficient platform for audio content. The streaming and internet companies WISH they could have what radio stations have. They talk about it all the time. They recognize the disadvantage they’re working under. And the thing you need to know that with all the success and popularity Pandora has, it has never turned a profit in its 15 year history, and it’s mounting a huge debt that rivals a lot of broadcasting companies.

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