BOCA RATON, FLA. — Like many audio media companies, Cumulus Media‘s Q2 2020 results will go down as one of the dreariest ever seen. That said, there’s something particularly unique about the performance seen by the company led by CEO Mary Berner in the three-month period ending June 30.
Millions of dollars were seen from a land sale in the Washington, D.C., area, and a $213 million tower portfolio deal is poised to bring much-needed money to the owner of AMs, FMs, and national radio arm Westwood One.
That said, the Q2 results aren’t pretty, and an adjusted EBITDA loss is an unfortunate distinguishing point from peers such as Townsquare Media.
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