Cumulus Sees Net Revenues Rise in Q2

Cumulus Media said net revenues for Q2 of 2003 increased $4.5 million to $74.5 million, a 6.5% increase from the same quarter last year. Station operating expenses increased $3 million to $44.1 million, an increase of 7.3% over Q2 of last year.
Company Chairman, President/CEO Lew Dickey, stated, “Q2 marks our eleventh consecutive quarter of Adjusted EBITDA and Free Cash Flow growth. Operating in a difficult revenue environment, our team exhibited expense control discipline that is key to generating free cash flow.”