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Syndication Czar Norm Pattiz Selling Beverly Hills Estate
There are many
ways one can incorporate the use of barter. And within the arena,
the degree of success attained will differ as well. Here is a short
story about one of the superstars—Norm Pattiz.
In 1974 Pattiz
founded Westwood One (NYSE:WON), a company that syndicates radio and
TV news programs, including sports and talk shows as well as traffic
reports. (Syndication is a process whereby programs are bartered to
broadcast stations, in exchange for advertising time that is bundled
and sold to national advertisers.)
Over time he built a powerhouse, and with success came the spoils,
such as the 5-acre Beverly Hills estate that sits on a knoll behind
gates with lush gardens and downtown-to-ocean views. For the past 20
years, 63-year-old Pattiz and his wife have been living in the house
once owned by Marlo Thomas, but they are now ready to sell and have
listed the home at $27.5 million. |
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