With key words including “guarded” and “disciplined” punctuating her remarks, Cumulus Media CEO Mary Berner opened her company’s third quarter 2020 on a positive note, stating how the audio media content creator and radio station owner now has a large cash position while month-by-month revenue improvements are being seen.
Indeed, the sequential growth story, placing a focus on Q2 versus Q3, is one that radio broadcasting companies appear to be embracing to better share with investors how they are recovering from the COVID-19 pandemic’s worst days.
Still, it could only do so much to mask Cumulus’ swing to a net loss.
