Quote:
Originally Posted by Dee8go
Hey, it sounds like there might have been some good "Sales Closing Material" on those tapes, if clients were involved in compromising situations! I can't understand how you could hae gone out of business with valuable stuff like THAT on tape!  |
I was out of there before the Chapter 7 part...but the reason for the original filing was programming costs...
The station was part of a larger group...therefore, the programming was bought "ala carte" and spun out to the stations...
Problem? Because we were all separate from one another, no one station actually "knew" what the contracts for the programming cost.
It was determined that the "media management" firm was cooking the books and we found out that we were paying for programming at the rate of >$500.00/half-hour show/episode...sort of a "Ponsie Scheme" arrangement...most of the investors for the stations were doctors and dentists in the southern part of the country...lots of money, no knowledge of the business or the real costs...and it didn't hurt the programming suppliers any that the people that were buying the programming had "diddly squat" experience in negotiations...
A recipe for fraud/lawsuits/bankruptcy/prison...I have no idea what's happened to some of those "top clowns" that wrecked that place...
OH...and to answer your question about "ready-made" programming...the "clients" were the ones that paid on time (and in some cases, in advance!). If we had run that stuff, even after midnight (Remember, this was back in the mid-80s...) it would have raised a few eyebrows and gotten us a visit from "Uncle Charlie" -
THAT you
DON'T WANT!