"Our work in building our digital assets continues to pay off; this is the sixth consecutive quarter in which the Digital Audio Group Adjusted EBITDA is larger than the Multiplatform Group Adjusted EBITDA.”
Some may interpret my conclusion as a slight against Limbaugh. Actually, it's the opposite — it's admiration for what Limbaugh built: a wildly successful format across the country. But at the same time, it feels like there hasn't been much, if any, evolution over four decades.