Cumulus Media (CMLS) is up 38% on news that the company’s CEO and Merrill Lynch Global Private Equity will pay $11.75 a share for the company. It closed Friday at $8.37.
The company traded at $11.68 last November.
In the last quarter net revenues decreased from $75.3 million in 2006 to $72.4 million in 2007, a 3.8% decrease. This decrease was primarily the result of the contribution of the Company’s Houston and Kansas City stations to our affiliate, Cumulus Media Partners, LLC ("CMP"), on May 4, 2006.
Looks like a good deal for the insiders.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
