Indeed!
I tried another scenario: An all-news FM in LA in 1970.
It was brutal, and I ended up being bought out in '75 and left with nothing.
However, I was able to rebuild a beautiful music station in the 80s, then flip it to news-talk in the early 90s. Now I have the #3 news talker in LA (it had been #1 for a long time as an AM-FM simulcast until I sold the AM and went FM only) with almost $700 Million in cash!
c
I tried another scenario: An all-news FM in LA in 1970.
It was brutal, and I ended up being bought out in '75 and left with nothing.
However, I was able to rebuild a beautiful music station in the 80s, then flip it to news-talk in the early 90s. Now I have the #3 news talker in LA (it had been #1 for a long time as an AM-FM simulcast until I sold the AM and went FM only) with almost $700 Million in cash!
c

