A purchase would have to be approved by a bankruptcy court.
This arrangement makes 100% sense for Merlin. There’s no way they would be ready to go if they had to take over today. It has no sales department. The people who performed back office functions were either fired four years ago or became Cumulus employees. It buys Merlin three months to either staff up or establish a marketplace for WLUP and WKQX. And there will be a marketplace. Major market FM signals dont become available every day.
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