Abbot told investors and analysts on Thursday that there was nothing new to report on the negotiations with lenders on a refinance, other than discussions continue. He did say a resolution could be something done out of court, or in a Chapter 11 Bankruptcy. The company reported to the SEC that a Chapter 11 “could result in a significant or complete loss of value to the holders of our common stock.”

Last week, the Cumulus Board of Directors authorized the company to intentionally miss a $23.6 million interest payment on 7.75% senior notes due 2019, most likely to force lenders to come to the table and get serious. By missing the interest payment on November 1, a 30-day clock started ticking. That’s the grace period Cumulus has, giving the company one month to make the payment or go into what is called an “Event of Default.” An “Event of Default” means lenders can demand full repayment of the entire loan sooner than it was originally due. An “Event of Default” also enables the lenders to seize any collateral that has been pledged and sell it to recoup the loan. The filing says the decision was made “in support of the Company’s efforts to develop and implement a restructuring that will allow the Company to continue its operations.”

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

$23.6 million interest payment on 7.75% senior note

I am not a legal expert, how many times do I have to say it?

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

WLS and the Loop. Dayum.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

I am not a legal expert, how many times do I have to say it?

I never really understood what they did with WLS-FM. That frequency had a good thing going with oldies/motown tracks they used to play, and they abandoned it for some stale/played to death playlist that you can find on 3 other stations in this market. They moved Dick Biondi to Saturday and Sunday mornings, and still force the guy to follow the same awful playlist. He is on from like 6AM-10AM Saturday and Sunday, why not let him create some sort of specialty show, and program it himself? The dude is a radio legend for chrissakes.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

WLS and the Loop. Dayum.

Ah, Lemonparty, the 8th sacrament.

They should let Biondi do his own show but I think more than anything they've just been trying to push him out the door (they had him doing 11p-2a before. For whom, exactly?), but he's not gonna retire till he dies.

I am not a legal expert, how many times do I have to say it?

I never really understood what they did with WLS-FM. That frequency had a good thing going with oldies/motown tracks they used to play, and they abandoned it for some stale/played to death playlist that you can find on 3 other stations in this market. They moved Dick Biondi to Saturday and Sunday mornings, and still force the guy to follow the same awful playlist. He is on from like 6AM-10AM Saturday and Sunday, why not let him create some sort of specialty show, and program it himself? The dude is a radio legend for chrissakes.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

I realize there's not a place for an all-oldies station anymore but I'd still like to think a "classic hits" station should be able to play one Motown cut per hour without clearing out the listenership the way the consultants fear. Like, do they think people listening to WLS-FM will hear "Come See About Me" or "I Heard It Through the Grapevine," start screaming "GET IT THE FUCK OFF MY RADIO," and crash their cars from furiously turning the dial to find "Livin' on a Prayer"?

I am not a legal expert, how many times do I have to say it?

If you hate Laurence, then don't listen - don't comment. When he co-hosts the B&B show, take that day off ... listen to an old podcast of a Bernstein solo show and jerk off all day.

Sounds like a prime opportunity to purchase a signal for WCFMB.

I’m in for 25%.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

The ratings at WLS-FM were great when they were more "oldies" focused. They have plummeted since the switchover to 70's and 80's butt-rock. It's not like they were playing music from the 50's either earlier. It was mostly 1964-1974 focused, with maybe an occassional pre 64 song sprinkled in.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

http://www.radiotvdeals.com/35m8/illinois.html

We can get an FM Translator in Macomb for $50K. The "listenable" signal carries from Tennessee (IL) to a place totally unironically called Poverty Ridge. Dr. Ken's kind of people, I presume.

And then there's an AM daytime signal up for $2mil. Anybody know investors who want to get into the sports talk radio game?

LOL, that might be fun. Dr Ken is in for 25%.....?

The problem would be the operating funds. It's one thing to buy the station and quite another to come up with the ongoing working capital needed to fund what I would expect to be a money losing venture.

Drunk PittMike at 2:00!

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

Just set up a pirate station, provided there's not a translator on every single frequency in Chicago now.

Yes it is.

When this is all over, which is not going to be for a while, Trump will be re-elected President.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

Yeah, I remember WLS-FM coming back and doing great in the ratings because everyone missed having an oldies station so much -- 104.3 had been doing Jack FM for a while by then and not generating any interest (which it generally didn't in major markets, CBS did the same thing with WCBS-FM in New York). I don't know if K-Hits spooked them out of real oldies or what but it hasn't translated to ratings. Then they had that whole issue where some out-of-town executive was obsessed with getting this morning guy named "Jack Diamond" over at the expense of this whole roster of old Chicago DJs, but the guy was always out sick anyway until he finally disappeared. Then they started automating and voice-tracking, telling the jocks who actually were in the studio not to talk, and generally cutting corners.

Seems like the whole consultant racket in radio is that when they have a good idea, management gets the credit, but when they have a bad idea, hey, blame the consultant. Must pay well.

But sometimes I need the Wanderer and Love potion #9. I actually do have a fondness for that music and it was way before my time. Can't handle it for hours on end but yeah, I think Id take it over Livin on a Prayer.