That's certainly possible but I think the market will find a demand/supply balance. I don't think it's a big deal if these guys get paid in September or January, none of them need it given all the cash they generate. The bottom line is the broadcasters own a very valuable assets and the markets are valuing at $0 and that is simply wrong.
Yeah I'm aware. As the CEO once said, this sector has a bit of chicken little in it. The stocks trade way more volatile than their businesses perform. Gray had a great 1Q but 2Q guidance was lower than expected, basically they had some political $$$ shift into Q1 vs Q2. No big deal. They made a nice little acquisition and if you read what was in the press releases the seller talks about them having no options but to sell. GTN is in the cat bird seat when it comes to gobbling up all these small broadcasters post auction. That will enable them to create a lot of value for shareholders. Very similar to what NXST did, they will follow the same strategy (except by smaller markets with higher ratings). This year will be the best year the company has ever had, by a huge margin. Next year they will get a big jump in net retrains, roughly 20%, but the more exciting part will be the M&A. Bottom line, I own a lot (for me) and won't sell a share below $20 (unless the story changes).