The new Big Cheese at Cumulus

Jeff Marcus

Crestview Media Parterns is the largest stockholder in Cumulus. He was just named as the Chairman of the Board in a “non-executive” role, and Lew Dickey was given a three year contract extension. The wording of the press release had the feel of Lew Dickey being spoken of almost like he wasn’t in the room. My take on this change is that since Lew Dickey failed to follow instructions to recruit his successor (not his brother John), Mr. Marcus has assumed the task of hiring that successor. Suze Orman is probably available.

Interestingly, Mr Marcus ran Chancelor Radio back before it was swallowed up by Clear Channel.

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1 Response to The new Big Cheese at Cumulus

  1. Art Stone says:

    In the Stock business, an analyst rating of “hold” really means “sell”. The Street has rated CMLS a “sell”. Political advertising has vanished from radio. That barking dog thing probably isn’t working out either.

    There was a little news item the other day that clarified one part of my ongoing curiosity about the motivation for those government PSAs. It turns out the National Guard ads were being funded by the government, laundering the funds through the state NAB organization. So the message saying “this message was brought to you in cooperation with the [state] Broadcaster’s association is actually a paid ad, with the state broadcaster association controlling the flow of money, and probably taking a piece of the action without disclosing they were really concealing the money flow. I wonder how much of radio revenue actually comes right from the government, concealed from the public

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