Mutual Broadcasting System
Posted: Wed Mar 10, 2010 12:49 am
Greetings to all interested in Mutual Radio. My name is Dr. Raymond C. Rask and I was employed by Mutual from 1977 through 1982 as Director of Network Engineering, Director Satellite and Corpoate Engineering, including owned and operated stations WCFL Chicago and WHN New York. I helped to build the Arlington, Virginia network headquarters studios, designed and supervised the construction of the Bren Mar, Virginia, satellite uplink facilities, and oversaw corporate engineering operations at WCFL and WHN and the Mutual Southwest Radio Network originating from Dallas, Texas.
Mutual's financial operations between 1975 and 1980 were the most successful in its history. The many, many millions of dollars made for the network's shareholders during that same time was probably more profit than the network made during its entire history. It is really too bad that the sale of the company to the Amway Corporation ended that great run, as the management team at Amway did not have a clue. Martin Rubenstein, Amway's had picked network president was a complete disaster. Marty had been imported from ABC Radio and frankly did not have a clue about generating sales. Many of the people Marty brought on board were former employees of ABC, and they just burned money like there was no end to the pot of gold. Finally after one disaster-after-another financially, Amway forced Mutual to sell WCFL and WHN, then eventually sold Mutual to Westwood One.
Mutual was really at the end of its financial rope by the end of the 1960's. The network was saved in the early 1970's quite by accident, by a rough and tumble radio station owner named Charles Edward Little "Ed Little". To cut the long story short, Ed Little was on the Mutual affiliates board at a time when then Mutual's shareholders has invested about all they were going to continue to invest in Mutual's money loosing operations and had announced to the affiliates board that they were going to terminate operations. Now the real facts from this point forward are a bit sketchy, and open for some debate, but the bottom line is Ed Little stepped up and convinced the shareholders to let him take over as President of Mutual. Now, as Ed Little told the story (and Ed could really spin a story) Mutual's board gave him a very short period of time and essentually little or no funding to continue on and to make some progress financially. And if he failed, the gig was over and the network would be shutdown.
Ed Little was loud, overbearing, and nearly impossible to work for, but he new what he was doing and he did what had to be done to buy some time. He made some seemingly impossible deals with companies like Sears, GM and others, started Monday Night Football on radio and got the revenue flowing. When Ed took over, the network was drowning in debt and the largest debt holder was AT&T. Mutual owed millions of dollars in past due bills to AT&T for its long-lines network, connecting Mutual with its affiliate stations. Ed manuvered and pulled a number of stunts to keep AT&T from shutting down Mutual's network. But in the end, Mutual under Ed's leadership, paid off the AT&T bill over a period of years and all the other debts the network struggled with over many years and started making record profits....
The story will continue in future postings... Hope it was interesting so far....
Mutual's financial operations between 1975 and 1980 were the most successful in its history. The many, many millions of dollars made for the network's shareholders during that same time was probably more profit than the network made during its entire history. It is really too bad that the sale of the company to the Amway Corporation ended that great run, as the management team at Amway did not have a clue. Martin Rubenstein, Amway's had picked network president was a complete disaster. Marty had been imported from ABC Radio and frankly did not have a clue about generating sales. Many of the people Marty brought on board were former employees of ABC, and they just burned money like there was no end to the pot of gold. Finally after one disaster-after-another financially, Amway forced Mutual to sell WCFL and WHN, then eventually sold Mutual to Westwood One.
Mutual was really at the end of its financial rope by the end of the 1960's. The network was saved in the early 1970's quite by accident, by a rough and tumble radio station owner named Charles Edward Little "Ed Little". To cut the long story short, Ed Little was on the Mutual affiliates board at a time when then Mutual's shareholders has invested about all they were going to continue to invest in Mutual's money loosing operations and had announced to the affiliates board that they were going to terminate operations. Now the real facts from this point forward are a bit sketchy, and open for some debate, but the bottom line is Ed Little stepped up and convinced the shareholders to let him take over as President of Mutual. Now, as Ed Little told the story (and Ed could really spin a story) Mutual's board gave him a very short period of time and essentually little or no funding to continue on and to make some progress financially. And if he failed, the gig was over and the network would be shutdown.
Ed Little was loud, overbearing, and nearly impossible to work for, but he new what he was doing and he did what had to be done to buy some time. He made some seemingly impossible deals with companies like Sears, GM and others, started Monday Night Football on radio and got the revenue flowing. When Ed took over, the network was drowning in debt and the largest debt holder was AT&T. Mutual owed millions of dollars in past due bills to AT&T for its long-lines network, connecting Mutual with its affiliate stations. Ed manuvered and pulled a number of stunts to keep AT&T from shutting down Mutual's network. But in the end, Mutual under Ed's leadership, paid off the AT&T bill over a period of years and all the other debts the network struggled with over many years and started making record profits....
The story will continue in future postings... Hope it was interesting so far....