TheBigA said:If people in New York are so much smarter, why did the previous NY based company that owned WABC go bankrupt?
1. Citadel was based in Las Vegas, not New York. They had some corporate offices in NYC, but the HQ was in Las Vegas.
2. Citadel went 2.4 billion into debt to buy ABC and its O&O stations, then did a "pre-packaged" bankruptcy and came out smelling like a rose. Some of the key shareholders forced the sale to Cumulus.