The one major owner that does not own a station in NYC is Hubbard. They own an FM in DC that happens to be the #1 billing station in the country, as well as 3 small AMs. They could but 98.7 and WLIB if it was at a good price. Hubbard, as a family company, is very aware of the pitfalls of debt. They were one of the companies that thought about buying CBS Radio, and ultimately walked away. What would they do with it? Obviously not news. A year ago they flipped a successful country station to AAA in Seattle. Its been a ratings disaster for them. They have a lot of success with the AC format in Chicago and other places.