Cumulus' Lew Dickey: Limbaugh Boycott Cost Company 'Couple Million' In Q1
May 8, 2012 at 3:54 AM (PT)
On the company's conference call MONDAY, CUMULUS MEDIA CEO LEW DICKEY said that the boycott of PREMIERE NETWORKS' RUSH LIMBAUGH cost his company a "couple million dollars" in first quarter, about 1% of the company's total revenue, and expects a similar number for second quarter, although he noted that JUNE is "back to normal."
The show airs on 38 CUMULUS stations. CUMULUS is marketing the new MIKE HUCKABEE show as competition for LIMBAUGH, and DICKEY used the occasion to assert that the LIMBAUGH controversy "put some winds at the sails" of HUCKABEE's affiliation push.
ALL ACCESS reported YESTERDAY (NET NEWS 5/7) that CUMULUS MEDIA INC. reported a huge revenue growth of 324% to $245 million, largely due to revenue generated by the influx of CITADEL stations CUMULUS acquired, as well as a $2.4 million increase in political advertising. However, CUMULUS' pro forma net revenue actually fell 3.5%. The company reported a net loss of a little over $12 million for the quarter.
DICKEY also noted that Talk KABC-A/LOS ANGELES lost $1.5 million last year carrying LOS ANGELES DODGERS games, prompting the station not to renew this year (the games moved to crosstown CLEAR CHANNEL Sports KLAC-A). He said that, overall, "things seem to be getting a little bit better" in SPRING ad sales, pacing flat for second quarter but ahead of first quarter's 4% decline as larger markets experience a turnaround.