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Cumulus stock worth less than a candy bar !!!

Three possibilities:

Back several years ago you could "sell" tax losses to folks who needed them. A tax "loss" would be of no value unless you are making a profit and had to pay tax.

#1 They could "sell" the real dogs (negative cash flow) to somebody needing a tax loss and let them shut them down.

#2 A class B's AM footprint is usually much larger than a lot of the C and D stations there could be some value in larger AM coverage area for a much taller translator antenna to an existing AM / FM translator operator.

#3 I forget the time but I believe they are going to let AM A's and B's get translators too.

Some of the class D AMs with good daytime power/coverage might be attractive to someone wanting to translate it, since you can now run the translator 24/7 even when the class D AM signs off for the night.

Why the hell do class A's need translators? I *know* why, but if you have a class A on a clear channel it seems like there are others more deserving of a translator.
 
there use to be a "rule of thumb" that if you multiplied the power by 4 times you doubled the coverage. The AM class C's are usually 1 KW affairs. 5 KW should cover twice as much area assuming assuming the B is around the same frequency. This example is not a Cumulus station but maybe explains why a class B would be better than than a C for powering a translator. 1310 in Chattanooga (5 KW daytime) was delisted a could of years ago. 1450 WLMR with a COL of Chattanooga too has a "small" translator footprint:

http://radio-locator.com/info/W277DA-FX

If 1450 went 5 KW on 1310 daytime they should be able to "double" their translator coverage assuming there is "room" in the FM spectrum.*

* This is not an engineering study and your mileage may double.
 
there use to be a "rule of thumb" that if you multiplied the power by 4 times you doubled the coverage. The AM class C's are usually 1 KW affairs. 5 KW should cover twice as much area assuming assuming the B is around the same frequency. This example is not a Cumulus station but maybe explains why a class B would be better than than a C for powering a translator. 1310 in Chattanooga (5 KW daytime) was delisted a could of years ago. 1450 WLMR with a COL of Chattanooga too has a "small" translator footprint:

http://radio-locator.com/info/W277DA-FX

If 1450 went 5 KW on 1310 daytime they should be able to "double" their translator coverage assuming there is "room" in the FM spectrum.*

* This is not an engineering study and your mileage may double.

Yeah, I get why someone may not want to translate a class C AM (although that's precisely what Dickey is doing with WFOM and WIFN), due to the small coverage of a class C "local" station that maxes out at 1000W. A class D daytimer with big daytime power (like WCFO 1160 or WTZA 1010, both 50k daytime) would be more valuable for that purpose.

Here's the rule of thumb you're looking for: https://en.wikipedia.org/wiki/Inverse-square_law
 
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