In March 2018, The Mainstay Station Trust LLC came to fruition. It was created to take on four stations divested by Cumulus Media in order to complete its Chapter 11 reorganization plan.
The Trust is headed solely by Elliot Evers, of MVP Capital in San Francisco.
Now, two of the four properties in the trust are being spun. One is going to the No. 2 licensee of radio stations in the U.S.