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Understanding Broadcast and Cable Finance, 2nd Edition by Alan Batten, Walter McDowell, Broadcast Cable Financial Broadcast Cable Financial Mana

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11 Strategic Planning and Budgeting

Laura James and Andrew Kober

Many companies turn to strategic planning when they are in trouble, when growth is flat or falling and expenses are on the rise. This may be the worst time to begin the process. In crisis situations, money, staffing, everything is tight, so it’s hard to find the resources needed to support new projects. Change cannot happen overnight. It requires both time and money. In this chapter, Laura James—Senior Vice President of Finance for Lincoln Financial Media, which owns 3 television stations in major Southeastern markets, and 18 radio station in Top 50 markets across the country—and Andy Kober—Senior Vice President and Controller for Bresnan Communications, which operates cable systems ...

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