First, Charlie Cook leaves. Now, Val Garris leaves.
What's going on over there?
There's a difference between corporate executives exiting and station airstaff layoffs.The same thing that's happening at Meruelo, and a bunch of other places. The advertising depression continues.
There's a difference between corporate executives exiting and station airstaff layoffs.
At high management positions (thing "President of the US"), 65 is not as much a "trigger" for retirement. I waited ten years longer, and even then I would have continued were it not for the pandemic and the poor opportunities in radio in my part of the world.Mary Berner does turn 65 this year, so her retirement would not be sudden or unexpected.
There's more at play at Cumulus with these departures. Not fully about money...I agree, but the common denominator is money.
I wouldn't be surprised if the next big announcement from Cumulus comes from Mary Berner.
There's more at play at Cumulus with these departures. Not fully about money...
Merger? Reorganization?😳There's more at play at Cumulus with these departures. Not fully about money...
David for President….At high management positions (thing "President of the US"), 65 is not as much a "trigger" for retirement. I waited ten years longer, and even then I would have continued were it not for the pandemic and the poor opportunities in radio in my part of the world.
I've already got a job. And I can think of about 100 other jobs and professions I'd prefer than anything in politics today!David for President….
Excellent observation; that fact admittedly went unnoticed by me.The fact that there's no quote from anyone at the company thanking either of them for their service, wishing them well, etc....
So yes, very interesting.
Well, at least somebody thinks radio is still a viable businessCumulus Media Adopts Limited-Duration Shareholders Rights Plan To Ward Off Hostile Takeover – RadioInsight
As a Cumulus Media shareholder intends to increase its holding in the company to 20% of the company, Cumulus has instituted a limited-duration shareholders rights plan to impose a significant penalty on any person or group becoming the holder of 15% or more of their Class A Common Shares without...radioinsight.com
Is the suspicion here that there is a merger or acquisition on the horizon or is this a philosophical change based on poor performance?
Interesting. Would DOJ have to approve?I don't have any inside information or knowledge of the situation there, but Renew Group is hardly hiding that it wants a shotgun marriage of Cumulus and Audacy. Wouldn't be surprised if some other investors in the companies (even some who don't own stock in both) feel the same.
Interesting. Would DOJ have to approve?
Renew Group also wants to gut these companies down to their bones and operate on a shoestring. The Cumulus board did not put the poison pill in place for that reason, but rather as they know there is more value in controlling their destiny and not letting outsiders force their way in on terms that aren't good for the other shareholders.I don't have any inside information or knowledge of the situation there, but Renew Group is hardly hiding that it wants a shotgun marriage of Cumulus and Audacy. Wouldn't be surprised if some other investors in the companies (even some who don't own stock in both) feel the same.
Interesting. Would DOJ have to approve?
Renew Group also wants to gut these companies down to their bones and operate on a shoestring. The Cumulus board did not put the poison pill in place for that reason, but rather as they know there is more value in controlling their destiny and not letting outsiders force their way in on terms that aren't good for the other shareholders.