WSJ: Cumulus CEO Aims To Revive Radio Broadcaster
May 9, 2016 at 5:34 AM (PT)
THE WALL STREET JOURNAL takes a look at the progress CUMULUS MEDIA CEO MARY BERNER is making, writing when she made a MARCH visit to Classic Rock KLOS/LOS ANGELES, "one of the troubled radio company’s most promising assets -- a number of employees thanked her for bringing them 'the Force,' while she answered many questions with an equally cryptic response: 'HABU'.”
HABU? the story explains it's "an acronym for the 'highest and best use' of resources, and the Force, short for 'focused, responsible, collaborative and empowered,' are two of the code words that have become part of the lexicon since the fast-talking magazine-world veteran took the helm at the country’s second-biggest radio broadcaster in OCTOBER."
"But the upbeat mood and silly-sounding lingo at such stations are at stark odds with the bigger financial picture at CUMULUS, which is battling declining revenue and struggling with $2.5 billion in debt that starts coming due in three years," notes THE JOURNAL, adding, "BERNER and other executives say it may take several more quarters before CUMULUS’s 454 stations could start generating the advertising revenue that the company needs for growth. Ms. BERNER said she is exploring all of her options, but is focusing for now on creating shareholder value." Read the full article here.