Can The Cumulus Culture Be Fixed?

Mary Berner says yes. She's been hard at work trying to change the culture she's been very critical of since taking over the company after Lew Dickey was pushed out. Berner says the company has new cultural values described by what she calls "FORCE" or Focus, Responsibility, Collaboration, and Empowerment. She says it's become a rallying cry across the company and she's not surprised the company has embraced it.

Cumulus Lost $14.4 Million in Q1

With net income of $24.7 million from the radio stations Cumulus operates, it still lost (net) $14 million in the quarter, compared to $12 million a year earlier. Westwood One lost $2.8 million and the company reported a $36.3 million loss in the corporate department. CEO Mary Berner says she is acutely aware that the challenges Cumulus faces with the balance sheet are significant.
Alfred Liggins_2016

“We Are Very Happy With Our Performance In Q1”

Radio One reported net revenue of $109.1 million from all divisions in Q1, an increase of 3.1% over 2015. Revenue from the radio division decreased 0.5% for the quarter. Radio growth came from Radio One's Charlotte, Cleveland, and Washington D.C. markets, with Houston, Indianapolis, and Philadelphia experiencing the most significant declines.

Radio One Ready To Gamble

CEO Alfred Liggins says his company's final $35 million investment in the MGM casino in National Harbor, Maryland, will be made just before it opens at the end of this year. Eventually, Radio One will own 6.6% of the casino. Liggins said, "It's now real."

NextRadio Scores Home Depot Money

Emmis CEO Jeff Smulyan updated investors on NextRadio during his Thursday earnings call. Smulyan said, America's biggest advertiser, The Home Depot, is now a paying client on NextRadio.

Saga Q1 Revenue Increase 6.3%

That's on a same-station basis and when you add in the recent purchase of WLVQ-FM in Columbus, which Saga began operating in November of 2015, the radio revenue increase jumps to 13.1%. The company also reported free cash flow increased 35.4% to $4.9 million for the quarter. So what did CEO Ed Christian say about the quarter?

Emmis Q4 Revenue Down 6%

Emmis' fourth quarter includes December, January, and February, and CEO Jeff Smulyan reported revenue was down 6% to $36.4 million from $38.8 one year earlier. For the full year, radio revenues were $169.2 million, compared to $176.3 million in the prior year, a decrease of 4%.

Mercury Award Finalists Announced

The Radio Advertising Bureau says 101 radio spots and campaigns have made it to the finals of the 2016 Radio Mercury Awards, which honor outstanding radio created by advertising agencies, production companies, radio stations, and students.

Big First Quarter Interest Payments For iHeart

CFO Rich Bressler (pictured) and Senior Vice President and Treasurer Brian Coleman reported to investors that iHeartMedia's total debt remains at $20.7 billion. That's basically the same as the final debt total at the end of 2015. The company has $979 million on hand and the largest use of cash in Q1 was interest on the company's debt. iHeartMedia paid $549 million in interest.

Beasley Revenue Increases 13.2% In Q1

Beasley has officially been running the stations it received in a swap with CBS for one year now. The $3.2 million increase in revenue in the first quarter primarily reflects higher revenue in the Tampa-St. Petersburg and Charlotte market clusters. Beasley picked up six stations in Tampa, seven in Charlotte, and one in Philadelphia in the swap with CBS.

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