Station operating income down 14%, and adjusted EBITDA down 20%. vs. year ago quarter. In the June quarter, station op. inc. was down 13%, and adjusted EBITDA was down 15%. Yes, I guess the percentage declines didn't "moderate" from the year ago quarter...but on an absolute percentage basis, I'll take that kind of overall modest decline any day (considering the revenue drop they are suffering). When ad revenue turns up (which is happening as we speak), I think the Street will see the bottom line earning power of CMLS.

I think what happened is the FOOLS were spooked by the intangible asset write down....and the resulting bottom line loss. Would love to see this thing close at $2.25 or higher, when the smart money buying overwhelms the selling. (I hope!) I've bought a substantial chunk, this morning, between $1.65-1.80.