I think you are close on your thoughts, and I have to agree, but I have ask this:
This is how I look at it - Gerald would't take the time to leave and put his self in this postion if he didn't feel strongly enough to know he would get his $ back. And if he had no ownership in PRMX why would he do this. He has more to lose on WNMX because this is his last rodeo. I don't think he would jepardize his family -- to lose every thing on something that would put WMNX in trouble.