McDonald's franchises their local stores.
Many other fast food outlets and providers of goods and services everywhere also do.
It's all-American to be in the franchise business.
Which is why I think I have an out for radio operators who have had a devil of a time trying to run their monopolies since consolidation allowed them to put their clusters together.
There's even precedent for it in radio.
Remember how ABC went searching for crummy little AM signals in big markets and did long-term deals where they supplied Radio Disney content while the owner got checks and kept the license?
- How Lew Dickey Will Buy Back Cumulus
- Entercom's $110 Million in Merger Cutbacks
- Millions in Vanishing Revenue at Cumulus
- Connoisseur's Play for Cumulus
- Urban One’s Financial Condition
- iHeart & Cumulus Revelations
- Jeff Warshaw & Cumulus
- SiriusXM Changes
- Glut of Stations for Sale
- Entercom’s Financial Troubles