From this morning's RAMP Newsletter...
After negotiating the price on rocker WKQX-FM in Chicago, Cumulus and Merlin Media have come to a new agreement that will lead to Cumulus keeping the station after all. Cumulus will also get the WLUP-FM call letters and all WLUP intellectual property from Merlin.
So, if you want to start up a new Loop station, you can. You just need to buy the rights from Cumulus.