No. of Recommendations: 5
I don't see any problem with running up the score.

Let me tell you of a guy I know who owned one of the last large independent radio stations in a Top 5 market. And it was always #1 or #2 in the ratings, in a stable and low cost format to run. It billed tens of millions of dollars per year. Its margins were at least 40%, maybe higher. And the guy had a partner.

The partner died, and he decided to buy out his half and get full ownership. The year was 2006, the banks were giving away money, and he leveraged up a loan for tens of millions of dollars to buy it. And then 2008 hit, and advertising revenues took a nosedive, he couldn't pay the loans, and the bank was awfully sorry and everything, but he lost the station and now lives quite humbly for someone who was raking in millions. He had everything he could possibly need, but then decided to 'run up the score.'

This is a true story.

https://insidemusicmedia.com/jerry-lee-selling-more-fm-phill...
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