I could be wrong about this, but I believe with the number of signals in the Philly market, CC could own up to 8 stations as long as no more than five of them are in one service. Example: They could own up to 5 FMs and 3 AMs if they wanted to. Right now they own 5 FMs and 1 AM. So, I don't think they'd have to sell one of their other stations if they bought WPHT.
But, IMHO, I don't think CC is going to buy PHT or any other AM station in the Philly market. I still believe CC/Premiere won't be too upset about Rush not being cleared by a station in Philly. They have bigger fish to fry, like finding replacements for Hannity's Cumulus stations by 1/1/14.
Now if this became a pattern ... if another top 20 market station decides to do without Rush, that might be different. That would look like a bad trend. But for now, Premiere can cast the Philly situation as, "Oh, we always had a clearance problem in that market. Philly is weird." Premiere is probably much more concerned about how many stations Ryan Seacrest is on compared to Rush.
I stand by my prediction: Hannity and Beck NOT back on PHT after IQ changes format; 50-50 chance at best Rush returns to PHT.
Everyone repeat after me: 12+ ratings do not equal revenue. 12+ ratings do not equal revenue. 12+ ratings ...