Atlanta-based radio giant Cumulus Media Inc. (NASDAQ: CMLS) 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, or a loss per share of $2.34.
Revenue for the year was down 7.5 percent to $94.7 million. This included decreases of $58.3 million, $16 million, $15.9 million and $4.5 million in broadcast advertising, digital advertising, political advertising and license fees and other revenue, respectively.
“First,…
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