Bourgeault cites major catalysts as Nash brand, Right Now Traffic, CBS Sports Radio, and WestwoodOne. He claims they are creating more synergies at a faster pace than projected.
Also contributing is its growing digital advertising business, along with increasing national spot advertising, which will increase through the rest of the year as the elections get closer. So far political advertising has generated little to the top or bottom lines of the company, but that will change in the second quarter onward.
He acknowledges an ongoing concerning is the Cumulus balance sheet, but, he believes decent free cash flow has allowed the company to pay that down and strengthen its financials.
To Bourgeault the NASH Brand represents the type of future to look forward to with Cumulus Media. Not only does it attract advertisers to a very favorable demographic, but it has a variety of ways to monetize the customer base, which should provide stability and growth for a long time into the future.
NASH is projected to generate 2% growth for the company through 2016. Bourgeault believes that those projections are conservative.
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