Here is the status of the transaction:
Inner City, as you know, is in bankruptcy. The transaction became public when they filed to ask the court permission to sell WZMJ. That is why the KBLX/Entercom transaction has become public.
The court has not given its approval, yet. Unless there is some objection, this should be a pro forma approval. Once the court orders the sale, we will see the FCC filing for official transfer of ownership.
As for the rest of the Inner City cluster, the disposition of those properties has to wait for court approval of the sale of the assets to the creditors (YMF Media, LLC) which apparently has a buyer. See my other posting, above.