Cumulus Disses EVP Idea For Radio

Cumulus Media has decided it doesn't need an Executive Vice President after all.  On Monday's earning callm CEO Lew Dicket reported that after a five month search for an EVP for radio, Cumuls has determined that with our newly fortified regional oversight structure which we will finalize later this month, it will not need in EVP of radio.  Dickey re-iterated he will continue managing the day-to-day operations of the company.

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Dickey also said Cumulus be announcing a couple of key hires in research, marketing and brand sponsorship in the next 30 days and expect to have our executive leadership team largely in place by the beginning of 2Q. "I'm pleased with the tremendous progress we've made in the last five months and can confidently say that with the totality of these changes we will be competing with the strongest and most talented team in our country's history."

Lew Dickey

He reminded analysts that Ratings successes are a unique combination of art and science and the team to lead this effort is now largely in place.  "We're encouraged today by positive ratings momentum in key revenue markets for us including Chicago with WLS and WKQX, San Francisco, NASH 92.3, KSFO and KSAN, Washington DC with WMAL which is now closing in and nearing, all closing the gap dramatically between it and WTOP which is the country's number one billing radio station.

Dickey lauded the recent ratings success The Beat 93.9 in Indianapolis. "We're proud to say is the only station to produce a number one showing and a full book on PPM after a format change (to ClassicHipHop)".

"So we've launched that station, it went 15th to number one in Indianapolis. And then in Nashville, both NASH FM 103.3 and our second NASH format which is NASH Icon are now the top country brands in Nashville. So 103.3 and NASH Icon 95.5 are the two top country brands in Nashville now."

He also told analysts that "WRRM, WGRR and WOFX in Cincinnati are all performing very strongly and in the top five. Providence, WWLI and WPRO-FM, performing extremely well. And then in Albuquerque, NASH-FM 92.3, also performing very well. So we're starting to develop some good solid ratings momentum in key revenue markets across the country for us."

Moving on to WestwoodOne, Dickey said Cumulus "now turning the page on our first year of ownership and moving into the second year of our two-year integration plan. We're ahead of schedule on merger synergies and are very bullish on the long-term strategic opportunities of this content platform. "

His update on the NASH Brand: "We now have 83 country stations with NASH or NASH Icon branding. I flashed some of the ratings successes within our own platform earlier. Ratings successes are building across the country and platform sales opportunity will drive revenue growth for this package of assets in 2015 and accelerate into next year."