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LMA question

B

bobdavcav

Ok, let's say 3 companies operate in a market.
Company A has 4 fm stations and 2 am stations.
Company B has 5 fm stations and 3 am stations, but company A operates one of the fm stations via LMA.
Company C has 2 fm stations and an am station.
Company D is having financial issues and needs to sell off there 5 fm stations and 2 am stations. We know that company C could purchase up to 3 of D's fm stations and both the ams, but that leaves 2 of the fm stations left. Assuming that company C purchases the maximum number of stations allowed in a market, a new owner would have to be found for one of the remaining stations, but if one of the two other companies wanted another fm, which one could buy it without having to spin off another station? Do I understand right that it would be company B because A has an LMA, which essentially puts it at the market cap?
 
So that means that the company programming 4 fm stations could buy another one even though they have another station that is being programmed by another company?
 
Well, it seems as if the highest cap is 8 stations, and that's the size we're dealing with. All the companies in the example are at or below the cap.
 
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