NY Post: Cumulus To Link Magazine And Radio Sales
October 14, 2011 at 4:01 AM (PT)
CUMULUS, which completed its $2 billion buyout of CITADEL last month, also has its sights set on expanding its publishing empire, and linking ad sales with radio properties. CUMULUS owns MODERN LUXURY MEDIA, a collection of 40 free magazines in 13 markets.
THE NEW YORK POST reports CUMULUS "is taking its first steps in an integrated marketing push that LEWIS DICKEY, the Chairman and CEO of CUMULUS, eventually hopes combines print into integrated ad sales with the radio stations. If it succeeds, it will be one of the first major cross-media package deals to sell both radio and print."
DICKEY told THE POST, "It was a troubled business, but now it is nicely profitable. Profit is still in the low- to mid-seven-figure range on revenue estimated to be somewhere around $50 million."