"I don't think anybody sees a slight amount of post recession pricing power as mitigating the long term decline."
Mr. Joseph Field seems to, at least to the extent of paying up to $6 per share.
I understand your argument but do not agree that ETM will have to pay significantly greater interest rates upon refinancing. I have actually become intellectually curious as well as economically interested in the answer, which will emerge soon!
As an insider he'll pump it up and sell at the right time. You won't know until after he does. He knows how to work it. He is one of the few people that has gotten very rich in radio. Most have gotten poor over the years.
Plus it is in his best interest to ETM afloat, for his very well paying job and his dad's too. Besides all that there is an emotional power trip these radio guys are on. They don't see failure up until the day their lenders refuse to provide easy money.
And even then they will continue to insist all is well, except all the income will be owned by debt holders.
"He'll pump it and sell at the right time. You wont even know until after he does".
Golf you have got that Fields guy totally figured out. I get it. He will unscrupulously reduce debt and increase EBITDA slightly, with the combined effect being a large increase in EPS, just so that he can enrich himself, with his newly increased positon in ETM stock. What a low dog he is.
Just one part I dont understand. How will he keep us from knowing that he got the stock price way up? I am pretty sure I will be able to track earnings and daily increases in share price. You are confusing me golf? I know I am just not as smart as you. You have it all figured out.