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Frank StantonFrank Stanton
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Session:         Page of 755

Virginia. So that what we acquired, we put up fifty-one per cent of the capital and the Colorado people put up forty-nine per cent. Plus the fact that they have a management contract to run it, because they're running a lot of other ones.

I don't know how deep AEA is going to go into cable, but it takes so much money that AEA's role is very, very small. I know that my little company down in Palm Beach, Florida--I think the debt on it was $46 million, and that was one of the problems, because I had to build out of my profits and I had to pay interest on that debt out of my profits and it was very close. My partner had overextended the debt before I got into the company.

AEA, I guess, is prepared to put a considerable amount of money into cable, but the first couple they've gone into have been rather modest.

Q:

Has AEA ever entered into a deal that really went badly?

Stanton:

Yes, sure.

Q:

In your period of time--that you've been--

Stanton:

Yes, they had some white elephants, if you will. Got into a department store situation--I think in Canada--that went sour. And got into a correspondence school operation--maybe it's referred to in the book--that went belly up.

Q:

Yes, it was a vocational school. I'll get the name of it. North American Training Services, I think was the name of it. I was interested, though, in reading the book, that AEA tends,





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