from oct 08 into late july 09, ETM stock was in the tank to the point of being given a de-listing letter. The Fields family was buying stock just to keep the price up.
So with the company stock dropping from 31 bucks a share in Nov 05 to 70 cents in 09, along with nobody in their right minds loaning money on radio properties, there was no way they were in a position to make an offer on a CB radio, forget a station that was already upside down in a big way compared to it's previous sale.
Remember this wasn't too far removed from the time when the Bain/Lee purchase of CC was delayed due to the falling values of radio stations. IIRC that deal almost fell through.
So with the company stock dropping from 31 bucks a share in Nov 05 to 70 cents in 09, along with nobody in their right minds loaning money on radio properties, there was no way they were in a position to make an offer on a CB radio, forget a station that was already upside down in a big way compared to it's previous sale.
Remember this wasn't too far removed from the time when the Bain/Lee purchase of CC was delayed due to the falling values of radio stations. IIRC that deal almost fell through.