Though I suppose it's possible, I really don't think you have a situation where two groups didn't do their homework and just didn't realize Waterloo-Cedar Falls was no longer an Arbitron/Nielsen market and, thus, would need to use a different method of determining ownership eligibility. A more likely answer is that Cumulus wasn't willing to keep the Waterloo stations if it was getting rid of all of its Iowa properties east of Des Moines and forced Townsquare to take them in order to get everything else. So, I doubt Cumulus would even take the Waterloo properties back. From Townsquare's perspective, it's probably not much of an issue. Cumulus probably gave them a break on the price, and Townsquare should be able to convert them to cash or additional stations in another market, though they may not have as long to do that as they'd wanted.
