Great American Communications Co.: The Cincinnati owner...

Great American Communications Co.: The Cincinnati owner of radio and television stations said it lost $72.4 million in 1988, contrasted with a profit of $5.7 million in 1987. Because of substantial interest charges on debt and non-cash charges for amortization of intangibles, the company said it expects to incur sizable losses for the next few years. GACC, which owns 46% of Spelling Entertainment Inc., had revenue of $381.9 million, more than double the previous year’s.