As RBR commented, it is a strange world in broadcast trading.
http://www.rbr.com/radio/yucaipa-in-line-for-inner-city-disputes-irs-claim.html
If the dispute with the IRS is resolved, a Magic Johnson/Private Equity partnership will own the Inner City Stations.
Still in question is whether the new owners will eventually spin off Jackson and Columbia. Clearly with a change in ownership, they will have to spin off one to stay in compliance with the market limits.
http://www.rbr.com/radio/yucaipa-in-line-for-inner-city-disputes-irs-claim.html
If the dispute with the IRS is resolved, a Magic Johnson/Private Equity partnership will own the Inner City Stations.
Still in question is whether the new owners will eventually spin off Jackson and Columbia. Clearly with a change in ownership, they will have to spin off one to stay in compliance with the market limits.