A Shaky Tuesday For Radio’s ‘Debt Bomb Duo’


While all eyes are on Entercom Communications and its “transformative” merger with CBS Radio, some analysts and investors have their eye on the two most visible — and fiscally challenged — radio broadcasting companies in the U.S.

And, it wasn’t a great day for either company on Wall Street. With Cumulus Media appealing its pending de-listing from Nasdaq, its shares dipped to as low as 30 cents before finishing at 31 cents.

The company’s market capitalization stands at just $9.08 million, and its shares haven’t closed above $1 since mid-February.

To compound matters, it’s been one year since Cumulus shareholders approved a 1-for-8 reverse stock split. Had that event not transpired — a move designed to prevent a Nasdaq delisting — CMLS shares would be worth just shy of four cents each.

Meanwhile, the “stub” of iHeartMedia shares dipped 9.3% to $1.36 on Tuesday, continuing a bumpy ride for the company that’s been since Aug. 16, when IHRT shares reached $2 a share. On April 18, IHRT shares were $3.20.

While iHeart is struggling to repay its debts, it is in an arguably stronger position that Cumulus — at the Closing Bell its market capitalization stands at $122.85 million.

For a complete look at today’s Closing Prices for other media companies, please visit the Wall Street Report at RBR.com.