Opportunities for further creation of value for common holders abound:
1) Monetization of KXOS Grupo Radio call arrangement...or through "flipping" of agreement to Merlin...if Grupo Radio is finally ready to throw in the towel. 2) Settling up with the lock up group on the preferred. 3) Refinancing long term debt; paying off Zell 23% money. 4) Going private. 5) Using refinancing to permit buying back of common stock. Do Dutch Tender for, say, up to 10 million shares at, say, $1.00-1.25.
All kinds of options here...especially if they can resolve the remaining preferred, AND monetize KXOS. (If they do both, I think the stock is a slam dunk for $2+, whether it stays public, or goes private.)