The NY Post quotes Karmazin :
"We're going to be the most successful company in radio," Karmazin said in an interview with The Post. "We're going to be bigger than Clear Channel because we're growing and they're going the other way."
Sure they're growing, but while they have clearly laid out the next round of cost savings, but they're nowhere near profitable and it's not clear to me how they're going to finance the continued operation.
Or the wild card. If you really had designs on being the largest radio operator, wouldn't you be looking at an acquisition of a traditional radio property? The problem is that with the common at $1.30, there's not a lot of currency there, and the balance sheet needs less debt, not more.
I think it's more likely that another media outlet buys them.
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