Rush Limbaugh – Saving More Industries, Creating More Jobs Than Obama and Romney Combined

Rush: The EIB Network was started with private equity. One man’s money started the EIB Network. A man by the name of Ed McLaughlin, who was the former president of the ABC Radio Networks, who retired when Capital Cities merged with (and essentially took over) ABC. Ed was one of the ABC execs that went off on his own and in his package when he left, they gave him two hours of satellite time from noon to two to fill as he chose. That’s one of the forms of compensation. And then, using his own money, he built this network. He was the founder.

And it was all private equity.

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