Late Night - Early AM on WBZ-AM is now Mr. Computer

[Ron]

>> WCRB 102.5 FM in Boston, was sold to Greater Media for $100 million.

And that was for ONE station.

How many years later did the entire Gr Media company sell for, what,
$200-220 Million?

Reminds me of the mortgage crisis, when people were underwater with their
loans, trying to meet the mortgage payments.  Inevitably, someone who see
their peeling pain and deduce that these people "don't care about their
property".



-----Original Message-----
From: Boston-Radio-Interest
<boston-radio-interest-bounces@lists.BostonRadio.org> On Behalf Of Rob
Landry
Sent: Sunday, January 19, 2020 6:58 PM
To: A Joseph Ross <joe@attorneyross.com>
Cc: boston-radio-interest@lists.BostonRadio.org
Subject: Re: Late Night - Early AM on WBZ-AM is now Mr. Computer



On Fri, 17 Jan 2020, A Joseph Ross wrote:

> Funny, I thought the price of radio stations was getting higher and 
> higher after the Telecommunications Act.

There was a speculative frenzy. Everyone thought they could buy a station,
run it for six months, and sell it at a higher price to a bigger fool. The
fools all bought their stations on credit, and those who ended up the
greatest fools were stuck with debt loads they couldn't carry.

At the height of the frenzy, my place of employment, WCRB 102.5 FM in
Boston, was sold to Greater Media for $100 million. Three years later, when
its successor, WCRB 99.5 FM, was sold to WGBH, it went for a mere $14
million.


Rob