Jeremy, like iHeart and Cumulus, you will see them keep shutting off and selling AM stations to sell the land and save on the upkeep running them.

You will then see smaller market FM's being sold off. The Large markets will go last after consolidating from 5 stations a market to less until they are all gone and can deliver via IP. This is not good for smaller or independent IP broadcasters, because the iHeart and Audacy types have the money to peddle and legislate their way to stay relevant.

The smaller companies will peddle the Feds to allow them to run more than 5 stations in each market. Already starting in San Fransisco w/ Connoisseur.

You will see Cumulus keep filing BKP every time they can after exiting reorganization.

You will also see EMF snap up more markets as they can and expanding their national feeds. I hope the Feds step in to curtail what they are doing, make them actually do local broadcasts to serve their local audiences, because their current goal is to be the only owner and transmitter of linear FM broadcasts. This will not happen under this Administration, an R Administration or a moderate D Administration. So, chances of it happening is slim to none anytime soon.

Z