Lower Leverage and Audio-First Growth: Cumulus In Q4


Following Wednesday’s Closing Bell on Wall Street, one of the largest audio content creation and distribution companies in the U.S. quietly released its fourth-quarter and full-year 2021 results. And, with no replay line for investors to dial-in to had they not become aware of the Globe NewsWire release of its numbers (an online-only replay option exists), Cumulus Media just may have whispered to the world that it’s off to a strong start in 2022.

But, just how is the company led by CEO Mary Berner faring compared to Q4 2019, the new bellwether for broadcast media companies given the super-strong political dollars seen in the final three months of 2020?

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