Crowdsourcing radio service Listener Driven Radio (LDR) has repurchased shares owned by Mike McVay, "resulting in McVay relinquishing his position as a shareholder in the company."
McVay helped with the founding of LDR in 2009, but stepped away from his position as a member of the company's Board of Directors aftering joining Cumulus as an SVP in 2011. "Our move to buy out Mike McVay eliminates potential conflicts for McVay in his role as senior manage for Cumulus," explained LDR president/CEO Daniel Anstandig.
"My departure makes perfect sense as it will enable Listener Driven Radio to grow without compromise. I remain a huge fan of LDR," said McVay.