The Raid · HJ-032
HE FINANCED FOUR HUNDRED STATIONS IN THIRTY-EIGHT MONTHS. THE REGULATOR CHANGED THE RULE ON A THURSDAY. HE STILL HAS THE DEBT SCHEDULE.
He financed four hundred radio stations in thirty-eight months, leveraging over nine billion dollars in debt. The collapse came when advertising revenue fell, leaving bondholders with just eighteen cents on the dollar. The debt schedule is still untouched, a reminder of what was built and lost.
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