With Warshaw Bid Rejected, Cumulus Says Go To Share Buyback Plan


With the release of its first quarter 2022 earnings before Wednesday’s Opening Bell on Wall Street, Cumulus Media made it clear that an unsolicited buyout offer from a purported consortium led by Connoisseur Media founder and head Jeff Warshaw did not pass muster with its Board.

At the same time, it revealed that it is moving forward with a share repurchase program — “a clear reflection” of the Board’s confidence in Cumulus’ long-term operating plan.

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