REC Networks makes some remarkable math: the entity doing business as translator-mongers Edgewater Broadcasting and Radio Assist Ministries is cleaning up on the FM dial. Combined, Edgewater/RAM currently hold 1,026 construction permits for translator stations. This is of more than 4,200 license applications filed (~2,300 applications still pending).
Of these, REC then lists (in an e-mail) 83 sales or transfers of Edgewater/RAM construction permits – the recipients of whom just happen to be other translator-mongers, like the American Family Association and Calvary Chapel Church, Inc.
Three multi-translator transactions involved Edgewater/RAM handing over 26 construction permits in Florida to “Reach Communications (Calvary Chapel Church, Inc.)” for $326,500. The total revenue generated by the 83 transactions is just over $800,000. Continue reading “Moneychangers In the Temple”
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