Well, we know that about half of all stations don't have a profit, so my guess is that even more AMs are not profitable.Of course they're going to look after their members, even if that segment of the industry is on decline. How many of the nearly 4500 U.S. AM stations are making good money though?
But we have to remember that lots of smaller stations give their profit to the sole owner in the form of a salary to avoid double taxation, so there are likely lots of AMs where the owner makes an income for themselves, but little left over. We see more and more cases where an older owner is faced with a need to move the transmitter site or buy a new transmitter, at which point a five-digit expense is more than it is worth to keep the station running.
We are even seeing cases where the owner's trade-deal car is worth more than the station itself.