Quote from Cumulus on the sale to EMF: "The Entercom swap significantly bolsters our competitive position in Indianapolis and the EMF transaction generates substantial cash for debt repayment and investment in other business opportunities.”
"Invest in other business opportunities"
Emmis has been selling everything. They sold Chicago. They sold Los Angeles. They sold St. Louis. The only markets other than New York they have left are Austin, TX and their home market, Indianapolis.
Assuming Emmis is selling New York, two of stations they would be are selling two prominent, well rated Urban stations. Cumulus dropping 2 lower rated stations would make room for 2 higher rated stations from Emmis, would it not? Hot 97 and WBLS.
Another thing about this. The trade with Entercom for stations in Indianapolis, Emmis' home turf. Why Indianapolis in specific? Do they have other spinoff or trade plans there, specifically with Emmis? Cumulus will be at or over their ownership limit for FMs by adding Entercom's cluster. Maybe a swap and a payment for a few to Emmis for the New York signals?
Obviously this is all speculation but it pastes together ridiculously well in my mind.
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