Cumulus 1st Q Net Revenue at $47.7 Million

Cumulus 1st Q Net Revenue at $47.7 Million
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Cumulus Media Inc., the third-largest radio group at 300+ stations, reported first quarter net revenues at $47.7 million. That compares to net revenues of $31.2 million for the first quarter of 1999.
Broadcast cash flow in the first quarter of this year was $5.4 million.
"We believe that our performance relates to a practice of large discount sales which drove down our average unit rate," said Lew Dickey, executive vice chairman and newly appointed president of Cumulus Broadcasting.
- Leslie Stimson