Not sure how accurate this all is, but I heard from "a friend who heard from a friend" that works at Crossroads that there are some issues that could hold up some of the sales. Namely, the tower in Brazil for WSDM is in horrendous condition. Also, none of the Crossroads stations have paid any ASCAP or BMI fees in over 7 years, and they could block the sale until paid. I didn't hear an exact dollar amount on what is owed, but one has to figure it is over 200k for the 3 FM stations (ESPN played music as the Crock for several years). Also, it sounds like most of the air staff at this time will be out jobs. Midwest is taking some of the sales staff, but no on-air staff. No word about Emmis, as that sale agreement has yet to be announced. Again, I heard all of this second/third hand, but have no reason to doubt my friend's source.
Also the source said the FCC Owenership report due 12-1-11 has yet to be filed. I was able to verify this information on the FCC website. Nothing happens until that is done.