Re: Why Did I Buy?

[Jibguy@aol.com]

In a message dated 1/5/99 9:31:10 PM EST, sven@gord.isdn.lightning.net writes:

<<  But - just out
 of curiosity - what DID you buy them for? What actually prompted you to
 get into this whale-eat-shrimp business at this point in time?
  >>
Actually, I bought (WLVG)- 740 back in 1991 when prices were at rock-bottom,
and since this was prior to the TelCom Act of 96, the whales weren't fully-
grown yet.  But there's never any worry about revenue. ANY station in a large
market, even if only 250 watts can make heavy money if the owner brokers out
all the time.  I DO broker SOME time, but basically on weekends, and now on
weekday mornings for 2 hours with Radio France International (a GOOD client).

As for WHY?    --  I had been in radio for 25 years.   Just as everyone else
on this list has experienced, even back in 1991, the ONLY way one can do what
they want is to buy their own station.  The bean-counters were starting to get
agressive in the late 80's and radio jobs were even more unstable that the
previous years' of the industry.

BTW, I bought 740 for $277,115.00 in  U.S.Bankruptcy Court.   Broadcasting
Magazine had it listed as $150,000.00;  but who can trust the accuracy of
that? :)

- ---jibguy

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