Personally, I find InsideRadio worth every penny. Try it for a month, and see what you think.
I don't know which are my favorites any more, with all the moves in these stocks. The reality is, at this point, my position in EMMS and CMLS are very similar....and my largest positions in radio stocks. I would GUESS that CMLS might be $7-7.50 or so by the end of this year, and EMMS could be $3-4, so I guess EMMS might outshine CMLS...but realistically, the potential is kind of similar, and CMLS seems somewhat less risky in terms of the expected cash flow coverage on the debt. While, on the other hand, even at $1.90, EMMS has more speculative appeal.
One thing is for sure: This industry is not the spectacular fundamental long term buy it had, essentially, continuously been since about 18 months ago. But it is still, overall, a very good buy. And still, probably, one of the best industry groups to be in right now, from a "timeliness" perspective. (I still believe there's a lot of "Street" money that is going to pile into this sector, as the earnings reports darn near "shock" the Street into how good things are going here. And the sector has been SO out of favor, that any kind of turnaround could still yield dramatic results to the upside. Imagine the notion: "sex appeal" returning to radio? Incredible.
Because one is like a junk bond (EMMSP) that appears increasingly likely to pay off, and one is like a never expiring warrant (the common). Totally different animals. (I do own some EMMSP also, by the way, and am waiting for $27-35 to lighten up more there.)
Lot of potential still there in radio stocks - maybe some institutinal money piling in. But the potential can now be drawn on a linear scale rather then logarithmic. Trading more opportunistically now.