THE SOUND OF MONEY

Next time you need a good inflation story, remember KOAX-FM. In August 1976, a company called Metroplex Communications of Texas, with head offices in, urn, Cleveland, bought the station for $1.7 million. Metroplex has now sold KOAX to West-inghouse Broadcasting for $7 million, a 311-percent increase in just over two years. If the FCC approves, the sale price will be a record for an FM station, the previous high being $6.7 million for KPBI-FM in Denver. The new owners have no plans to change the “Beautiful Music” format. Who could argue?

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