What are the chances of Smulyan sweetening the deal?
I basically agree with you. I think as long as the economy doesnt tank which would hurt the trend, and the companies dont have to refi at much higher interest rates, which would damage eps and cash flow, radio stocks should do very well.
Obviously the market looks better just in a week or two.
Nevertheless, whatever the outcome of EMMS, I still believe it was the right move to sell over $2.20 (I sold at $2.30), and redeploying that cash elsewhere (some in other radio). The risk may have been (and still may be) very small that the deal at $2.40 doesnt go through; but still too great considering where the sp could go short term.