"Just for curiosity, was the $1.3 million the actual sale price of the radio stations? If it was then that was the fair market value at the time of the transaction. Fair market value being what a willing buyer would pay a willing seller. If it wasn't the real price paid, then what was the real price paid. Perhaps you know?"
now that's just funny. $1.3 million is the selling price that was PR'd. I have no evidence in front of me to indicate if the PR was not factual - maybe they lied, who knows.
As for $1.3 million being the fair market price because their was a willing buyer and seller is just not accurate.
Lets say you owned a car that was worth $10,000. You also owned a business that needed a car. Now, this business could use other peoples money to pay for business expenses, so you , as the business owner offered to buy the car from you the individual for $75,000, and you the individual, agreed on the price. You now have a willing buyer and a willing seller, does that make the fair market value of that car $75,000? If not, what is the fair market value of the car? Were you, as the owner of the business, fiscally responsible with the other peoples money in agreeing to that transaction?
Regards.
