Danny Lee's father, Louie Lee, owned an appliance and electronics store on Chicago's north side. In the mid-1950's, Louie Lee also purchased WSBC-AM, a radio station on the west side of Chicago that featured all ethnic brokered programming. With WSBC-AM being so popular that he had to turn away programs due to lack of airtime, Louie Lee purchased a second radio station in 1958: the little-heard college station WFJL-FM, which Lee changed to WSBC-FM. Those call letters were changed to WXRT-FM in 1964.
In the early 1970's Louie Lee's son Danny began taking over operations of the stations, which were legally owned by the Lee family corporation Diamond Broadcasting. In 1972, WXRT-FM stopped having ethnic programming in the overnight hours and instead experimented with a progressive rock format. That rock format slowly grew, starting earlier in the evening, and then in the afternoons, before finally going 24 hours a day in April 1976, becoming the WXRT-FM that Chicago radio fans know and love still to this day, according to a posting at chicagoradioandmedia.com.
In addition to WSBC-AM and WXRT-FM, Danny Lee and his Diamond Broadcasting also owned the original WSCR-AM (then on 820 AM), Chicago's first all-sports talk station which launched in January 1992.
Lee sold all of the Diamond-owned Chicago stations in the mid-1990s. Westinghouse/Group W purchased WXRT-FM and WSCR-AM for nearly $60 million in 1995. In 1997, Lee/Diamond sold WSBC-AM to Fred Eyechaner's Newsweb Corporation for $5.5 million.