It's a good format, it's a smart move, nothing wrong with the idea. There's a hole for that format here in Chicago, if they grow it, it can survive, if they don't. It won't.
I think the real question is, as it is with any of these bloated debt pigs is this: Can they bill enough to keep the big daddy happy and service the debt.
Like most of these companies, they've paid too much for most of these radio stations. If the Hunt Bros. taught the world anything it's that you can't 'corner a market'. The bigger you get, the more problems you have. Like the song says... "mo money, mo problems."
Then you have self-proclaimed radio Gods and Gurus who are labeled that by lowly surfs and biters that surround them.
At the end of the day, unless you can service your debt, there's no format or cluster that's going to make big mama happy if they can't service that debt.
You can only kick the can down the line for so long before your money people say "um, we can't do it this time"
Just a thought.