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Falling prices

H

hypwr

I just heard that KGNY-FM in San Fran was purchased in 2004 for around 33 million. It was just sold again for less than 7 million.
 
In the good old days, you just multiplied total billing by four and wrote a check for that amount. We're headed back in that direction, which is a very good thing for the business.
 
Actually at the height of the consolidation boom stations were selling for 10 times earnings. That's maybe the biggest single reason the industry is where it is today.
 
Parttimer said:
Actually at the height of the consolidation boom stations were selling for 10 times earnings. That's maybe the biggest single reason the industry is where it is today.
Click to expand...

Amen to that. Those who thought they were contributing to the industry almost destroyed it.
 
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