ETM's station operating income dropped 23% in Q3. CMLS's dropped only 14.4%. Does this argue for a further decline in ETM's stock....or a rally in CMLS's stock?

I think the selling is way overdone in CMLS, and reflects a misunderstanding by the Street of the results....failing to fully back out one time interest expenses related to their renegotiated bank deal....as well as freaking out about the one-time intangibles write-off charges.

Let's hope management can provide clarification in the conference call.

I look at revenues that were only down $1 million sequentially (when normally, the 3rd quarter is somewhat seasonally weaker than the 2nd anyway), and see a company that has reached an "inflection point" on its revenues.

I still think this is the industry to be in in 2010...and CMLS can make upwards of $1 in EPS in 2010...with ad revenue roaring back. (Not even roaring....just getting back maybe half of the revenues they lost over the last couple years.)