Inside Music MediaJerry Del Colliano

Don't look now but the big media grab is underway.

Wall Street banks are getting ready to trade debt for equity as several of the big consolidators find themselves unable to make their loan payments.

The Wall Street Journal says lenders are running into federal media-ownership rules as they find themselves the unexpected owners of bankrupt media companies.

In radio, Citadel is proposing to senior lenders whom they owe $2 billion that J.P. Morgan Chase, GE Capital and ING take ownership instead of the debt payment Citadel cannot make.

I hear the talks are ongoing but I don't see too many other options available&hellip