The FCC just completed an auction for radio signals, which totaled only $5 million for 122 possible stations (37 weren’t taken). This is down from the $25 million the government got in 2007 for 111 permits and the $180 million it got in 2004.
Does this mean radio is dead or is this the buying opportunity that gets you rich? Personally, I would like to invest the maximum $500K one went for, or the minimum $7,500 several others fetched.
My friend John Levitt bought an FM station in San Jose, back when no one knew much about FM and managed to turn $500,000 into $65 million over 20 years. Not a bad return. Check the auction here. There are still some left.
