By John R. Brooks & Erwin G. Krasnow, Esq.
For decades, broadcasting seemed to be “recession proof.” Then came the Great Recession which decimated the business with lost jobs, lost capital, bankruptcies (previously unheard of) and a glut of “zombie” companies. Although eight years have passed, some of us still bear the scars from that painful period. But scars heal over time, and with an ever so slow recovery, many broadcasters are starting to envision some light at the end of the tunnel. Now other industries are feeling the pain that broadcasters endured eight years ago. Here is a snapshot of three industries going through their own version of turmoil that station owners can learn from.