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Originally Posted by AdvertisingSex
Thanks for all of the info. I want to start one up from scratch. I have some reading to do.
~Ray
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If you are in any sort of decent-sized metropolitan area, it's highly unlikely that you will be able to just "start one from scratch" - it's like saying that you're just going to grab some vacant land in mid-town Manhattan and put up a skyscraper. Frequencies are (and have been) locked up for decades; the only exception is if you pick the right city and pay a communications lawyer skilled in "drop ins" a ton of money to make the attempt - and chances are still pretty sketchy.
As previously mentioned, unless you're out in the boonies, your best bet by far is to buy an under-performing station and work with it - the *real* money to be made is in finding one that's just outside a major metro, then upgrade it so that it becomes a metro signal. That's tough to do these days too - most of the big boys have found most of the stations that could be shifted.
(I spent 25 years in radio - I'm still kicking myself for not putting together a group to buy some stations when I could have...)