Cumulus Media Inc. (CMLS) just came off a poor quarter, although it was largely the result of losses in political advertising and the runoff of legacy Citadel barter transactions, which accounted for $3.2 million of the pro forma revenue loss. The remaining loss of $2.4 million was from the syndicated talk segment of the company.
The company, which as of March 18, 2013, owned and operated 517 radio stations in 108 media markets, generates revenue from the sale of local, regional and national advertising against its content.
Chairman, Chief Executive Officer and President Lewis W. Dickey said Cumulus has "come through the greatest exposure here and we now expect to grow our network revenue for the balance...
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