Cumulus Sees Revenue Decline
As it continues to purge its roster of on-air personalities, Atlanta-based Cumulus Media announced its second-quarter revenues were $167.9 million, a 9.7% decline from a year ago, when it reported $186 million. The company’s radio division is blamed for the decline. Cumulus posted a net loss of $9.2 million, less of a decline from last year’s $12.8 million second-quarter decline. Adjusted EBITDA declined 28.3 % to $16 million. Radio revenue fell 13.2% to $102.9 million. Spot revenue declined 10.6% to $81.4 million. Network revenue dropped 21.5% to $21.4 million. Digital revenue was $38.7 million, down 0.3%, and other revenues dropped 8.4% to $25.3 million.
“Freedom 1690” WMLB AM Sold
Radio Insight reported Friday that Disruptor Radio is selling Conservative Talker “Freedom 1690” WMLB-AM to Heartland Signal, a non-profit broadcaster, for $450,000. The station, whose signal is based out of Avondale Estates, is likely to flip to the opposite side of the ideological fence when Heartland takes over September 1st on a Time Brokerage Agreement. The sale is pending FCC approval. Other Heartland Signal stations in Chicago, Minneapolis, and Phoenix are Liberal Talkers. It will be the first Liberal Talk station in Atlanta since July 2006, when Air Atlanta was ironically on 1690 as WWAA.
