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.
