Millenium,
Until you know how WOW is going to use GRBG, you do not know what gross and net revenue they are going to flow through it.
They may use it as a tax loss sub - they may use it to generate profits but then dividend those all out to the preferreds (who owns those and would benefit most from that arrangement?).
My best bet is that there will be no profit left or cash flow for commons at the end of whatever they choose to do with GRBG. And if they do fully fold WOW into GRBG, then watch for a RS first and then massive dilution to account for the "value" of WOW being folded in.
You may get a false run prior to getting the shaft here but this one is not likely setting itself up to be pretty.