If I was Pirkle, even if he doesn't want to run the station himself, I'd sure shop it around for the best deal. In other words, instead of simply settling for a smaller payment from Citadel, I'd see if Journal or South Central was interested in an LMA or buying the station and then pit them against each other for whoever comes up with the best deal. Heck, who knows, even Clear Channel might consider entering the market if they think they could pick up two prime money making 100kw signals like 107.7 and 100.3? Anyway, I'd certainly shop it around.
Also, as far as current market players go, isn't Journal still under the market cap? They only have 3 FM's, so they are allowed to add another I believe. I don't know about their financial situation, but they might pony up the cash to buy 100.3. Or even South Central could easily dump one of their smaller frequencies for the more attractive 100.3.
Either way, it should be interesting. I do agree though, that Citadel would be smart to do whatever is necessary to come up with the cash to continue the LMA or buy 100.3. The "NewsTalk 100" franchise on the 100kw stick is doing better than it ever has in the market, and is a cash cow. They'd have to be nuts to let that go, unless they are truly completely out of money.
