I read the Wall Street Journal So You Don't Have To 4/26

[lglavin@lycosmail.com]

As you may be aware, some radio industry stocks have 
participated in the recent stock market declines, but
haven't done so well lately during the recovery.
I was looking through the 'Money and Investment" 
section of today's WSJ (4/26/200 pg C7) and happened to
note that good old Cumulus Broadcasting has not only
dwindled to a 52-week low, but got a negative mention 
in the aforementioned newspaper.  Financial firm 
Price Waterhouse Cooper has resigned as the firm's
auditor after stating that the Milwaukee-based 
radio station operator was deficient in "internal
controls related to revenue recognition and related-
party transactions".  Some gobbledy-gook here, but
auditors don't resign for trivial reasons.  
The word "Cumulus" refers to clouds, and it's
possible PWC found Cumulus' finances cloudy. More
to come I'm sure.

Laurence from Methuen



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