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RadioInsight: Bhargava announces stakes in Cumulus, Audacy, ShopHQ

PTBoardOp94

PTBoardOp94

Manoj Bhargava made his fortune in the company that produced 5 Hour Energy, and has added to his sundry collection of "old media" properties.

radioinsight.com

5-Hour Energy Founder Expands Media Holdings Including Audacy & Cumulus Stakes - RadioInsight

Manoj Bhargava's Bridge Media Networks has announced a series of media acquisitions including stakes in Audacy and Cumulus Media. Bhargava, the founder of 5-hour Energy drink, purchased 829,618 shares (equivalent to 5.15%) of Cumulus Media in July through Renew Group Private Ltd. He also...
radioinsight.com radioinsight.com

The debt holding in Audacy will give him a seat at the table during negotiations with creditors, as well as during any possible bankruptcy. The Cumulus stake would make Mr. Bhargava a top 3 shareholder in Cumulus. And who knows how ShopHQ fits into anything.
 
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