Cumulus Radio on the verge of Collapse

[giantsfan2016]

Cumulus Radio is the next radio company on the verge of collapse after I-Heart.

http://nypost.com/2017/06/11/cumulus-media-is-on-the-brink-of-a-total-collapse/

Both companies suffer from the same problems. Overpaying for stations, taking on way too much debt, and the falling values of stations. IMHO Cumulus should have never bought out the bankrupt Citadel Communications. That only added to their massive debt load. (Citadel went bankrupt after buying the stations owned by ABC outside of 4 or 5 ESPN Radio O&O's and the Radio Disney O&O's. Note ABC sold off all their Radio Disney O&O's except for 1110 in LA, which just flipped from RD's main service to the new RD Country Service).

Cumulus owns hundreds of stations across the country big and small plus the Westwood One Radio Network.

Big Stations including: WABC 770 NYC, WPLJ 95.5 NYC, WNSH 94.7 NYC, WLS 890 Chicago, WLS-FM 94.7 Chicago, KABC 790 (?) LA, etc. WMAL FM 105.9/ 630AM and WRQX 107.3 DC. Small stations including: WICC 600 and WEBE 107.9 Bridgeport CT, WQGN 105.5, WMOS 102.3 and WXLM 980 in New London, CT WMAS 94.7 and WHLL 1450 in Springfield, Mass. WPRO/WEAN 630/99.7, HOT 106.3, 92.3 PRO-FM, and WPRV 790 in Proivdence. Plus hundreds of others.


Let me tell you something about how the values of radio stations have collapsed.

Around 1997 one of I-Hearts Predecessors purchased Country 92.5 WWYZ (Waterbury/Hartford) for $26 million. In 2009 I-Heart via their Aloha Station Trust sold FM 104.1 WURH (Waterbury/Hartford) for $8 million.

In 2014 Buckley Radio sold 102.9 The Big D WDRC (Hartford) along with 4 AM stations that make up the Talk of Connecticut for just under $6 million. That same year religious powerhouse K-LOVE purchased the bankrupt WCCC-FM 106.9 (Hartford) and its lowpower AM station for just over $9 million. (The price only went that high because K-Love was in a bidding war for the station with the company that ultimately bought WDRC).

In 2015 Davidson Media Group unloaded their 4 stations in New England for around $1.4 million. WSPR/WACM in Springfield Mass, WKKB(FM) in Middletown/Providence, and WNTY in Southington/Hartford. Back in 2004 DMG spent $1.4 for WNTY alone. They spent around $8 million for WKKB and second FMer in Rhode Island in 2005ish. I don't recall what the paid for WSPR/WACM but the bought them around the same time they bought WNTY.

[Retail Fan+ (Justin Hill)]

Cumulus owns a few radio stations in Green Bay. I think they are going to be affected by the collapse of Cumulus Radio.

1400 WDUZ-AM "The Fan" (Sports Talk) - Affiliated with CBS Radio and the Green Bay Packers
98.5 WQLH-FM "Star 98" (Hot Adult Contemporary)
103.1 WOGB-FM "103.1 WOGB" (Classic Hits)
104.9 WPCK-FM "Nash FM, 99.5 & 104.9" (Country)
106.7 WKRU-FM "Kruz @ 106.7" (Album Adult Alternative)
107.5 WDUZ-FM "The Fan" (Sports Talk) - Affiliated with CBS Radio and the Green Bay Packers