Cumulus Media (NASDAQ:CMLS) has outperformed my high expectations for the company, jumping from $3.33 per share on June 20, 2013, when I last wrote on the company, to $6.57 per share, where it closed on May 5, 2014. For the last 12 months it is up 81.15%.
Among the major catalysts are its Nash brand, Right Now Traffic, CBS Sports Radio, and Westwoodone, which is creating more synergies at a faster pace than projected.
Also contributing is its growing digital advertising business, along with increasing national spot advertising, which will increase through the rest of the year as the elections get closer. So far political advertising has generated little to the top or bottom lines of the company,...
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