From this morning's Radio Ink...
There’s been some speculation as to what would happen to the CBS/Entercom deal if Entercom’s stock continued to slide. After meeting with Entercom CEO David Field and CFO Rich Schmaeling, Wells Fargo analyst Marci Ryvicker told investors not to worry, there is no “out” in this deal. “This has been somewhat miscommunicated to the Street for whatever the reason, so we will clarify it here. CBS Radio and ETM are contractually obligated to get this deal done – regardless as to ETM’s stock price. We stress that both parties are fully committed but we thought it relevant to highlight the contractual obligation as well.”
Don't worry. A few people will still get their big paydays and everyone else will be sacrificed eventually to help ease the heavy debt load as the stock tanks.
