Cumulus Q4 Revenues Up, Loss Narrows
March 1, 2007 at 2:48 PM (PT)
CUMULUS MEDIA fourth-quarter net revenues rose 5.9% to $87.759 million, with the company's net loss shrinking from $3.45 to $1.21/share. Pro forma revenues rose 9.4%.
The company credited "organic growth driven by increases in local and national advertising revenues over our existing station platform" offset by the subtraction of KANSAS CITY and HOUSTON stations (now part of affiliated CUMULUS MEDIA PARTNERS, the former SUSQUEHANNA RADIO).