Cumulus Media Inc.s stock price perked up last Tuesday, after the Milwaukee-based radio-station consolidator said it had hired KPMG L.L.P. as its auditor.
By BroadCasting & Cable Staff -- Broadcasting & Cable, 5/14/2000 8:00:00 PM
Cumulus Media Inc.'s stock price perked up last Tuesday, after the Milwaukee-based radio-station consolidator said it had hired KPMG L.L.P. as its auditor. Its previous auditor, PricewaterhouseCoopers L.L.P. resigned on April 24 after signing off on Cumulus' late 1999 financial report. PwC noted, however, that it had found two "material weaknesses" in Cumulus' accounting system that have been or are being corrected. After PwC's replacement was announced last Monday, Cumulus' stock rose 7.2%, to close the next day at $13 per share. But it drooped again last Wednesday to close at $12.625. Cumulus also is seeking a new chief financial officer.
No related content found.
-
No Top Articles
Featured Company
-
Digital Rapids
Digital Rapids is the leading provider of professional hardware and software tools, technology and expertise for bringing video to wider audiences and new viewing platforms. Continuing to set new standards in quality, productivity and versatility, our solutions span the critical ..more
VIEW ALL GALLERIES
