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100% Of Nothing

100% Of Nothing

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.

Earlier this year, the Atlanta Journal (Cumulus is based in Atlanta) put it succinctly: Cumulus Media drowning in debt

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.