There were posters insisting that Cumulus would emerge and buy these stations. Keep leasing. Rosy pictures abound and life goes on. Disclaimer. Scream time: THEY ARE IN BANKRUPTCY COURT. They needed to get out of this and they did. Merlin would come swoop in and ressurcet the great WLUP or bring in German Reggae format and go from worst to first. Well as I said, Merlin is BROKE and had NO interest to take these on by securing capital. They made a nice handsome sum while leasing it to Cumulus. They needed to get out of this and they did.
Fred Eychaner could have easily bought this. It wasn't for sale to him. Selling to EMF for a piss poor 21 million, to most of you is like WTF. Not really. I can assure you that Merlin will get a TON of tax breaks selling to EMF. Also Merlin can care less who they sell to as they are not in the market and there is no competition. One of my contacts told me that Merlin might have options to purchase or operate one or more of the EMF's translators and low powers.
There is a bidding war going on for 101.1FM right now. Either Hubbard will walk away with it and round out their market in Chicago, or it will go away for peanuts like WLUP to some non profit or special interest where credits and tax savings can be realized. (any guesses anyone)?
When Cumulus emerges from Bankruptcy court, they will be a shell of who they were. You will see slashing, automation and shedding properties to try and get in the black. WLS is on a downward spiral and will end up like KABC LA. WLS-FM will eventually be sold off. Cumulus can't be profitable in a market with a hemorrhaging AM and a standalone FM signal.
For those that wanted EDM, Classic Dance, Rock, Active Rock, Death Metal, Polka Hip Hop, German Reggae or whatever, you have been let down. From a business standpoint EMF scores. Chicago loses. This is nothing but a satellite feed. Want to impress me EMF? Take it live and local. Otherwise, you are nothing but a paper pusher company taking advantage of government perks and tax breaks.
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