http://www.detroitnews.com/article/20140430/METRO02/304300104/-1/rss50
How on earth could they have believed WCAR was worth $4M? ($1M at 25% values the station at $4M). These people own an ice cream business in Farmington. Why would they not have had their lawyer review the documents? I'd love to own WCAR or any other local station to make it a talker, but I wouldn't pay even $1M for all of WCAR. I feel badly for these people and hope they get their money back.
How on earth could they have believed WCAR was worth $4M? ($1M at 25% values the station at $4M). These people own an ice cream business in Farmington. Why would they not have had their lawyer review the documents? I'd love to own WCAR or any other local station to make it a talker, but I wouldn't pay even $1M for all of WCAR. I feel badly for these people and hope they get their money back.