Cumulus Media Partners posts decline


Pretty much in line with the industry, Cumulus Media Partners (CMP) reported that Q2 revenues were down 6.2% to $56.4 million. That was attributed to the weak ad market and a format change in Atlanta. Station operating expenses were cut 1.3% to $32.8 million. Station operating income was down 12.2% to $23.5 million. CMP is the large market radio group managed by Cumulus Media and partly owned by the public company. It is majority owned by private equity investors and its results reported separately from Cumulus Media.