iHeart on the other hand is having a bigger problem right now. The creditors are sick of it and want the company.
As for Merlin Media, if they wanted to take over the operations, you probably wouldn't notice too much of a difference as they pretty much launched what you hear on WKQX (On 87.7) and ran WLUP as a Classic Rock station the entire time.
I have a feeling Cumulus knew they were probably going to file Chapter 11 before they decided to buy those stations out of the LMA (They were paying for them already) so they may or may not have something worked out in that regard.
Hubbard is not really on a buying spree. The only thing I remember them buying was Bonneville when they wanted out of all except for a handful of markets. As of late, Bonneville is doing Entercom's job for them in some California markets under an LMA because of ownership caps.
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