Cumulus stock worth less than a candy bar !!! - Page 5
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Thread: Cumulus stock worth less than a candy bar !!!

  1. #41
    Quote Originally Posted by Jonathan7157 View Post
    Besides, they will fall down from 2nd place, to 3rd largest radio owner soon. Why? Entercom will surpass them after the merger!
    Entercom: IMHO will pass everybody in what really counts profitability and serviceability. Both CC / iHeart and the cloud company merely exist to service debt. Like trying to bail out the Titanic with a Dixie cup.

  2. #42
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    Quote Originally Posted by DavidEduardo View Post


    That's not how a reverse split works. "They" didn't get the other 7. If there were 7 million shares before, there are 1 million now. The idea was to have each new share worth 7 times the value of one previous share.

    Share price does not determine the survivability of a station group. The balance sheet and P&L decide that.
    That is not the case at all. For one share to be worth $1 then the 7 other shares would be what, 15 cents.... if one share is now equal to 8.
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  3. #43
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    Quote Originally Posted by gregg75 View Post
    That is not the case at all. For one share to be worth $1 then the 7 other shares would be what, 15 cents.... if one share is now equal to 8.
    A reverse split is not done that way.

    If XYZ, Inc. has 7,000,000 shares outstanding (issued) and they do a 1 for 7 split, they will then have 1,000,000 outstanding shares. Every shareholder electronically "turns in" their shares and are issued the new post-split shares.

    So if you had 1,000 shares before the split, the old shares are cancelled and in their place you get 142.85 shares.

    On the market, if the shares of XYZ had been selling for $1 before the reverse split, the second the split happens, each new share of XYZ, Inc (made up of 7 old shares) will start trading at $7.00 per share.

    The old shares are gone, cancelled and deleted. They have been exchanged for new shares, each worth 7 times the value of an old share.

    In the specific case of Cumulus, they now have 29.31 million new shares: pre-split they had slightly less than 210 million old shares.
    Last edited by DavidEduardo; 02-21-2017 at 11:40 PM.
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  4. #44
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    Quote Originally Posted by Jonathan7157 View Post
    Besides, they will fall down from 2nd place, to 3rd largest radio owner soon. Why? Entercom will surpass them after the merger!
    That really does not matter at all.
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  5. #45
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    Quote Originally Posted by DavidEduardo View Post


    A reverse split is not done that way.

    If XYZ, Inc. has 7,000,000 shares outstanding (issued) and they do a 1 for 7 split, they will then have 1,000,000 outstanding shares. Every shareholder electronically "turns in" their shares and are issued the new post-split shares.

    So if you had 1,000 shares before the split, the old shares are cancelled and in their place you get 142.85 shares.

    On the market, if the shares of XYZ had been selling for $1 before the reverse split, the second the split happens, each new share of XYZ, Inc (made up of 7 old shares) will start trading at $7.00 per share.

    The old shares are gone, cancelled and deleted. They have been exchanged for new shares, each worth 7 times the value of an old share.

    In the specific case of Cumulus, they now have 29.31 million new shares: pre-split they had slightly less than 210 million old shares.
    Then why are my shares worth LESS than the old shares were? In your view they are worth the same amount (just fewer shares) which is not the case.
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  6. #46
    Quote Originally Posted by gregg75 View Post
    Then why are my shares worth LESS than the old shares were? In your view they are worth the same amount (just fewer shares) which is not the case.
    Because since the split, the company lost a court battle over a deal to convert some debt to equity. The company hasn't come up with a new plan. So until then, they're seen as a wounded dog. They haven't had ANY good financial news at all.

  7. #47
    Bankruptcy is inevitable for the company John & Lew Dickey ran into the ground. The only question is whether or not they enter court with a pre-pack.

    You're not going to grow revenue (and the bottom line) substantially when (i) radio overall is stagnant to slowly declining as an overall advertising medium, (ii) many of their radio stations in large markets continue to have mediocre to downright terrible ratings, (iii) they are doing a terrible job at cultivating new talent and (iv) they are burdened with horrible contracts negotiated by John Dickey.

    This is a mess that Mary Berner cannot fix! It's an impossible task. Simply allowing more time to "execute the turnaround plan" is no solution.

    How many more conference calls are we going to hear about the stupid land sale near D.C. with Toll Brothers that will never close???

    The fact of the matter is WABC and WLS will never return to their pre-Cumulus ratings, WRQX will never return to its pre-Cumulus billing, the Nash brand has been and will remain a complete dud, and Newsradio 106.7 will always be a total loser of a radio station with its current format.

  8. #48
    Bankruptcy is inevitable for the company John & Lew Dickey ran into the ground. The only question is whether or not they enter court with a pre-pack.

    You're not going to grow revenue (and the bottom line) substantially when (i) radio overall is stagnant to slowly declining as an overall advertising medium, (ii) many of their radio stations in large markets continue to have mediocre to downright terrible ratings, (iii) they are doing a terrible job at cultivating new talent and (iv) they are burdened with horrible contracts negotiated by John Dickey.

    This is a mess that Mary Berner cannot fix! It's an impossible task. Simply allowing more time to "execute the turnaround plan" is no solution.

    How many more conference calls are we going to hear about the stupid land sale near D.C. with Toll Brothers that will never close???

    The fact of the matter is WABC and WLS will never return to their pre-Cumulus ratings, WRQX will never return to its pre-Cumulus billing, the Nash brand has been and will remain a complete dud, and Newsradio 106.7 will always be a total loser of a radio station with its current format.

  9. #49

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    Quote Originally Posted by gregg75 View Post
    Then why are my shares worth LESS than the old shares were? In your view they are worth the same amount (just fewer shares) which is not the case.
    IIRC the reverse split was 1 for 10 or 1 for 20. They should have made it 1 for 100 or 1 for 200 since the stock has continued to decline in value and is now being threatened with delisting again.
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  10. #50
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    Quote Originally Posted by jabba17 View Post
    IIRC the reverse split was 1 for 10 or 1 for 20. They should have made it 1 for 100 or 1 for 200 since the stock has continued to decline in value and is now being threatened with delisting again.
    The split was one-for-eight.
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