If Cumulus can't stump up the cash, is there room within the ownership cap for Entercom to grab them?
Given that Entercom already owns 7 stations in Chicago, I think it is unlikely that Entercom will have a hold of WLUP & WKQX. Unless, of course, they sell stations within their cluster, which seems unlikely.
Hubbard, on the other hand, has some room, although WLUP may conflict with WDRV, and with that, changes have to be made. That's a choice should Cumulus fail to buy WLUP & WKQX outright from Merlin.