response 9 of 107:

Nov 24 19:40 UTC 1997

#5: And those people are motivated by greed and fear (those two evil words
    again) and will do whatever is most profitable for them, including 
    selling their station to people who want to broadcast classical music.
    Look -- if the station was making $2 million a year, you can buy a
    station for, say, $5 million, spend another million on miscellaneous
    stuff and have a return on investment of 33% a year, assuming no
    debt. That is a huge return. If you leverage the deal with debt, you 
    can increase your ROI even more. You don't have to start one from 
    scratch.

    Just because the bandwidth is regulated it does not mean it is not a 
    free market. There are barriers to entry but they are not overwhelming.
    A plant to manufacture memory chips costs over $1 billion. The cost of
    developing the next Intel chip is going to be about $10 billion. Those
    are severe barriers to entry.
 
    PS: I don't think WQRS was making $2 million a year in net profits.

#8: The question is not "whether or not I can make money with a classical
    music station" but "whether I can make more money with a classical
    music or rock music station?" If you can make $1 million a year with
    a classical music station and $3 million a year with a rock music
    station, which would you run?