Tony - I admit, you are right. And it's not not unlike other businesses that grew out of their "core" and into things they shouldn't have, nor as fast as they did. Yes, we all know Clear Channel and their story. But look around you. CBS, at one time, sold Fender guitars and amps, pianos, books and magazines ... and too many radio stations. Doing that tends to water down a franchise or brand, just as Mega did with its "outside interests" that were undercapitalized, under represented and, apparently, with the exception, maybe, of Joel, who knows his stuff and has proven his success ... someone at the top was asleep at the switch, while being overpaid, not in once instance, but in at least two in upper management that I can think of.
One must also go to a board of directors who, for some reason (as is the same case with Citadel and other radio operators,) turn a blind eye away from the 'actuality' and focus with a trance on what they see is the 'reality' growing before them and take no action. The same is happening with Sirius/XM as well.
And so it goes ... Maybe, just maybe, there is too much "radio." "Freedom of Choice" is one thing. "Bastardizing" a business to the risk of losing it in rubble out of mismanagment is inexcusable.
