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Brandon Leak is out at 790/The Zone

I Know it said:
The lease arrangement with star 94 sounds interesting. I’ve heard the zone has been looking for additional investors for a while, to help with a bailout and no one looking at the books wants to touch it.

The zone hitched its wagon to the Stews…the wagon was full of gold…and now it’s headed for a cliff with no breaks.
Click to expand...

They have also been using 790 profits to help with the debt on their St. Louis properties. The Atlanta principals put up the downpayment for those stations and finances a huge bank loan to pay the rest. They grossly overpaid for the stations and they have not come close to breaking even in St. Louis. So each month, BLB has to pay the their Atlanta lease, their St. Louis bank note with interest and then take care of all of their other operating expenses in both markets. They were able to get away with that two years ago, when 790 was printing money, but that formula has no room for error. And between their own errors with the Atlanta programming and the flux in the radio ad market in general they are likely nearing that cliff.
 
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