Tom Taylor speculates this morning about the future of the Chicago radio stations owned by Randy Michaels' Merlin Media...
What is Merlin Media going to do with its hometown stations? WIQI has recently shifted to rhythmic AC, while “Loop” WLUP (97.9) and leased-Channel 6 TV audio alt-rock “Q87.7” have stayed in their lanes, format-wise. Surely Tribune’s Jimmy deCastro would love to be running the Loop once again, as he did under previous ownership. And surely he’d love Santa to drop WIQI’s big Class B signal down the chimney at Tribune Tower, for duty as WGN-FM. But Tribune may be playing it cool, just biding its time. A potential bid for 101.1 by Cumulus would just raise the bidding floor for others, and deCastro may hope Lew Dickey passes on the purchase – so he can slide in there.
I'm wondering if that famous meeting between Randy Michaels and Wert & DeCastro wasn't about something else. It's well known that the old Loopers are looking for an FM station, but remember, they can't buy one as long as they own the newspaper. That's an FCC rule. What if that meeting was about selling the Tribune instead? Or a combination of the two things? It's not as crazy as it sounds.
