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Cumulus Media Reviewing Offer Made by Jeff Warshaw

Cumulus saw its stock price jump about 40% following the Reuters report.

Eduardo Razo

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Connoisseur Media CEO Jeff Warshaw made headlines a couple of days ago when a reported offer to buy Cumulus Media surfaced. 

Warshaw reportedly floated a proposal to purchase the company for between $300 and $340 million. Radio Ink provided a statement made by Cumulus regarding the offer they have on the table. 

“Cumulus Media confirmed receipt of a letter with respect to an unsolicited, non-binding, highly conditional indication of interest. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Cumulus Board of Directors is reviewing the letter,” the statement said. 

Cumulus saw its stock price jump about 40% following the Reuters report. The reported Warshaw bid is for $15 to $17 per share. The stock price had been treading ahead in the $10-$11 range for the past year.

Furthermore, the report also stated that Warshaw might be keen to spend more for the company once he looks closer at the books. Radio Ink also spoke to financial experts, who said that Cumulus has two options. 

“The Cumulus Board of Directors could ignore the offer and continue to operate as is, or they could engage with Warshaw and allow a possible sale move to the next step,” Radio Ink wrote. 

“Everyone we spoke to believes it’s prudent for the shareholders of the company that the Board at least take a look at this offer or justify why it did not engage.”

Cumulus’ Board of Directors is made up of:

Andy Hobson (Innovatus Capital)

David Baum (former investment banker)

Mathew Blank (former CEO of Showtime Networks)

Tom Castro (Founder and CEO of El Dorado Capital)

Joan Gillman (former cable executive)

Brian Kushner (FTI Consulting)

Mary Berner (CEO of Cumulus)

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Megyn Kelly: Jeff Zucker Ruined CNN, Chris Licht Is Just Struggling to Fix It

“None of it works. It’s a recipe for disaster, and the ratings are showing it.”

Barrett News Media

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The profile of CNN CEO Chris Licht from The Atlantic continues to reverberate around the news media world, but SiriusXM host Megyn Kelly questions why Licht is the one taking all of the blame for CNN’s struggles.

During The Megyn Kelly Show Tuesday, the former Fox News host said she believes former CNN head Jeff Zucker is responsible for where the network currently finds itself, and took issue with comments he made to The New York Times.

“Jeff Zucker is…clearly trying to say ‘Chris Licht sucks and that all the CNNers are calling me saying how bad he is’. But Jeff Zucker is the one who ruined CNN,” Kelly said. “Chris Licht isn’t the one who ruined it, he’s just the one that’s struggling to fix it again.”

She then argued that while Licht isn’t responsible for the recent downturn in CNN’s ratings, the mission he has been put on by Warner Bros. Discovery head David Zaslav to return the network to its strictly news-gathering roots is a difficult one because Americans haven’t forgotten the shift CNN took during the Trump presidency.

“What Chris Licht is trying to do is take a bunch of avowed leftists, and make them fair and balanced reporters now, and stop them from being themselves,” Kelly argued. “He’s trying to undo the programming that Jeff Zucker let loose before realizing that all he had left was a bunch of wannabe MSNBC anchors and now those horses have left the barn.

“And now Chris Licht is trying to shove those horses back in the barn and fool the American people that they never left the barn and that they’re totally fair and balanced and you should trust them because now they’re going to say the right things. None of it works. It’s a recipe for disaster, and the ratings are showing it.”

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Chris Plante: Laughable for Chuck Todd to Say There Was Never Propaganda On Meet The Press

“There’s no propaganda from him, Meet The Press, or NBC News. They don’t stand for that stuff. He’s just another old Democrat.”

Barrett News Media

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As Chuck Todd prepares to depart Meet The Press later this year, it seems unlikely WMAL host Chris Plante is sad to see him go.

During The Chris Plante Show, the host brought up several reasons why Todd — in his view — is misguided for stating that he, the show, and NBC News will never allow propaganda from either side to air on the program or network.

Plante described several cases that he believed showcased how that statement wasn’t true, alluding to the Steele Dossier as just one example. He then wondered aloud about the choice of Kristen Welker to be the one to succeed Todd.

“He’ll be replaced by a woman of color. Is she on the LGBTQ spectrum as well? Because if she’s not, why not?” questioned Plante. “Chunk (sic) actually says there’s no propaganda from him, Meet The Press, or NBC News. They don’t stand for that stuff.

“He’s just another old Democrat,” Plante continued. “He was a campaign guy for a Minnesota senator who was the most liberal member of the Senate at the time. Now his wife is a Democrat party apparatchik, who has her own company because her husband was the host of Meet The Press.”

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WFLI Changes Format to News/Talk

WFLI airs on 1070 AM, 96.1 FM, and 100.3 FM, which are licensed to Lookout Mountain, GA; Hickson, TN; and Chattanooga, TN.

Barrett News Media

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WFLI, labeled as “The Big One”, will remain on the air in Chattanooga, but now with a new format.

After previously airing a classic hits format, the Tri-State Broadcasting station has flipped to a news/talk format.

After airing a simulcast of WTVC-TV’s morning show until 7:00 AM, the station will broadcast The Rick & Bubba Show until Noon. It will then add The Clay Travis & Buck Sexton Show from 12:00-3:00 PM, The Sean Hannity Show from 3:00-6:00 PM, and commentary from Bill O’Reilly from 6:00-7:00 PM.

The station, which is the flagship station for the University of Tennessee at Chattanooga Mocs, will continue to hold a sports presence, airing the nationally syndicated OutKick Hot Mic with Jonathan Hutton and Chad Withrow on a delayed basis from 8:00-11:00 PM. The Press Box Radio Show featuring Brad Law, Mike Mote, J.D. Byars, and Mike Grace will also air on a delayed basis from 11:00 PM-1:00 AM.

WFLI airs on 1070 AM, 96.1 FM, and 100.3 FM, which are licensed to Lookout Mountain, GA; Hickson, TN; and Chattanooga, TN.

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