This is from Tom Taylor's column this morning, and just reading between the lines, it doesn't sound good...
L.A.-based Oaktree Capital and Angelo, Gordon led the committee of creditors in the marathon Tribune Chapter 11 battle, with JPMorgan Chase as the main banker. Oaktree and Angelo, Gordon will convert their debt into equity in the new Tribune Company (expected to be run by former News Corp. executive Peter Liguori, says the L.A. Times). Oaktree also is a backer of station owner and syndicator Cumulus Media – and it’s the major sponsor of small market specialist Townsquare Media. So Oaktree’s view of the radio station business spans all the way from the very largest markets (through Cumulus) to the smallest ones.
When I see the words News Corp. and Cumulus, I get a little nervous.
