Cumulus Loses $546 Million as Radio Ratings Decline

Atlanta Business Journal: Radio giant Cumulus Media fell deep into the red in 2015 after sagging revenues as its debt was at $2.4 billion. The company posted an annual net loss of $546.5 million. “First, national spot advertising sales are heavily dependent on ratings across our stations. Declining ratings in certain key markets resulted in a significant decrease in national spot revenue.”