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Frank StantonFrank Stanton
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Session:         Page of 755

down, you're out of business until you can get another tower up.

The Dutch bankers were reading about these storms and about the re-regulation that the FCC was putting into effect, and, in effect, said: “We want our money back now.” They had the right to call the money in--to make us make payments.

Q:

This was what period--a year or two ago?

Stanton:

Oh, this it's been the last couple of years. What was the big hurricane--Albert? [Hurricane Andrew]

Q:

I forget. It was about a year and a half ago.

Stanton:

Anyway, that was the one that scared the Dutch, and they said: “Let us have our money now.”

Well, here I was, just having acquired my partner['s share] and a loan and no money, I had no choice but to sell. I wanted to sell anyway. I'd wanted to sell long before Leonard died. His name was Leonard Reinsch. Leonard had visions of doing some of the things that [] Millones has done, and Leonard Reinsch had built Cox Cable when he was an employee of the Cox organization. So he knew the cable business. Better than I did. I knew it as a user more than I knew it as an operator.

Nevertheless, I had to scurry around and find somebody who would pick up that $46 million note. I'm not sure that that was the final figure, but it was a substantial amount of money.





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