Extract
Cumulus Reports Second Quarter 2009 Results.
ATLANTA -- Cumulus Media Inc. (NASDAQ: CMLS) today reported financial results for the three and six months ended June 30, 2009.
Financial highlights (in thousands, except per share data and percentages) are as follows: [TABLE OMITTED] [TABLE OMITTED] Results of Operations Three Months Ended June 30, 2009 Compared to the Three Months Ended June 30, 2008 Net revenues for the second quarter decreased from $83.6 million to $66.0 million, a decrease of 21.1% versus the second quarter of 2008, primarily due to the impact the current economic recession has had across our entire station platform. Cash revenues for the second quarter decreased from $79.8 million to $62.8 million, a decrease of 21.2% and barter revenue decreased $0.7 million or 18.3% as we continue to deemphasize barter transactions. Station operating expenses decreased from $53.0 million to $39.2 millio...See the full content of this document
Sponsored links
