Thomas Lee Partners out of Boston and Bain Capital, the buyout firms behind the Clear Channel privatization (and many other buyouts) have one way of doing radio.
They buy a large established industry leader, cut expenses to the bone, operate it until the market allows them to -- sell it for a greater profit than what they paid.
That's the Lee & Bain way -- nothing wrong with it -- if you're an investor.
But for operators, there is another way.
Last week, Jerry Lee, the owner for life of WBEB (B-101), Philadelphia showed the industry what operators do when they want to actually keep the stations and make lots&hellip