Up quarter for Cumulus


Cumulus Media reported after the market close Monday that pro forma Q1 cash revenues rose 2% to $69.7 million and station operating income (SOI) gained 5.4% to $21.8 million. Local ad sales were up, but national down. “As reported” net revenues gained 0.7% to $72.9 million and SO rose 4.8% to $21.8 million. With its going private buyout still pending, Cumulus did not conduct a Wall Street conference call. It did say in its announcement that Q2 revenues are pacing down slightly from a year ago.