Cumlus, iHeart, and Entercom are profitable companies.
In 2019 they made substantially more than what they paid out in expenses. That' makes them profitable. They "lose" money at the end of the year when the accountant makes them write down an imaginary loss on licenses and goodwill. It's crap.
Radio needs to stop chasing wall street. It made sense in 1999 but that ended a long time ago. Plus, the pricing of most stocks is absolutely goofy. Analysts ask three shallow questions on earnings calls and that's it. It's all about perception. Tesla trades at $700 a share. Yet it loses hundreds of millions of dollars per year and Elon Musk is on bath salts half of the time.
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