I’d rather operate the second CHR, even if the format is arguably in a doldrums period, and even under the COVID-tinger current reality, than a second alt rock outlet from a business standpoint, at this point in time.
It seems a pet project to focus on a given station as the next one to watch, but to me it’s about the cluster. Right now, is there something out there that better fits the cluster, that they have experience doing in the company—that’s going to pay enough dividends to make flushing away what you have, meager though it may be? I’m just not seeing some narrow slice that makes sense.
Selling? Meh, who doesn’t love a short cash infusion? Is someone out there willing to pony up what it would cost to part with it? That’s a very short list.
Maybe something emerges as an opening down the road. For the short term, hold the asset and watch for opportunities to present themselves. Patience.