In May, Warshaw sought to buy the company for $1.5 billion but that attempt was rebuffed by the company’s board.
"I'm not the only person noticing what the satellite broadcaster is up to these days."
When the news of Warshaw’s consortium became public, some of us looking for a knight on a white horse wondered if this was what we had...
"Berner said Cumulus remains open to any other offers that may "drive superior shareholder value.""
Cumulus saw its stock price jump about 40% following the Reuters report.
According to Reuters, Warshaw and several unnamed investors want to take Cumulus private for $15-$17 per share.
"When unprecedented situations happen, the way we respond has everything to do with our ability to recover. Equally as important is the speed in which we...