Why Is Cumulus Media Sliding Southward?


The Dow Jones Industrial Average slipped 18.77, to 18,142.42, on Monday as Viacom named Robert Bakish its third acting CEO in as many months. He replaces Tom Dooley on Nov. 15, as the company continues to prepare to reunite with CBS Corp. Netflix gave back $1.70, falling to $124.87, as the streaming media player finishes a stellar October.

Meanwhile, The Walt Disney Co. slipped $1.16, to $92.69, as word trickled out to investors about Nielsen’s possibly faulty November cable universe estimates, which Disney’s ESPN disputes.

Lastly, Cumulus Media shares continue to dip, losing another dime to land at $1.38. The company’s share value has fallen 31% since an Oct. 12 1-for-8 reverse stock split was OK’d by shareholders.

The RBR Radio Index fell 11.851, or 2.06%, to 562.155.

The TVBR Television Index fell 1.820, or 0.21%, to 863.643.



Beasley, up 3.1%

Tribune, up 0.5%

Sinclair, up 0.4%



Cumulus, down 6.8%

Emmis, down 5.0%

SBS, down 2.9%