Even new math doesn’t help…
Last week All Access reported that Cumulus, the second largest radio company in America, is trying to persuade its creditors to swap debt for equity.
You can read that HERE.
At the bottom of this post is a graph they posted showing the price trend of Cumulus stock in 2015.
They described it as “The rather humbling fall of the Cumulus stock price in 2015.” Ouch!
I’m not a math major, but I recall the words of Europe’s most successful Radio CEO after a vendor presentation he’d asked me to attend with him. And I’ll quote him exactly:
“100% of nothing is still nothing.”
p.s. then THIS happened yesterday.