When Hoffman Radio Corp.'s energetic President H. Leslie Hoffman announced a fortnight ago that he had bought the Don Lee radio network (TIME, Oct. 23), he was sure he had sewed up the biggest broadcasting deal of the year. Hoffman's offer had been accepted by the public administrator of Los Angeles County, who was disposing of the West Coast's biggest chain for the, heirs of Don Lee. Hoffman had bid $11.2 million; the only other bidder, an Akron bank representing the General Tire & Rubber Co.'s salaried employees pension fund, had offered only $10,525,000.

But California law permits a new bid...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!