Blowhard Ed was on the tube recently bragging bigtime about how he's gonna beat Rush because he was about to be syndicated in most of the major radio markets. Then the Drobny's who did a whole song and dance act about this project bailed out and now this fool Blowhard is left with nothing but a handful of small radio markets syndicated by something called the Jones Radio Network (never heard of them).
They are a closely held media company that I think started as mostly cable but have branched out. It looked like a guy trying to do the Ted Turner miracle again. I remember them from when I first started working on Wall Street, I was looking for obscure companies with multiple classes of stock to find arbitrage situations. They were so closely held that there were no opportunities unless you had an in at the company. I just took a peek at their latest 10K and Glenn Jones still holds about 91% of the voting shares, and over 93% are in his and other insider hands.
Yeah, I think Ed will be short lived.