Buono is also a founder and principal in BIA Capital Corp., a communications industry investment bank. BIAfn also includes a venture catalyst division specializing in start-up telecommunications and high tech industry fund raising. Buono founded BIAfn company in 1983 and has grown it from a specialized broadcasting appraisal firm into a diversified and highly respected financial consulting firm and has established himself as an expert in trends in the communications industries. In 1988, he orchestrated the acquisition of Frazier, Gross & Kadlec, a consulting firm that began operations in 1946. In 1999, Buono founded SpectraRep; a datacasting firm that manages data applications needs in the convergence marketplace. Buono has also been a principal in a venture capital firm, the president of a paging and SMR business and the partial owner of a number of radio stations.

Buono has been involved in the valuation of billions of dollars worth of communications properties. He has spoken on panels for virtually all of the major communications industry trade associations. He has testified as a valuation expert in many communications disputes and before Congress on the state of the radio industry. Buono has been quoted in numerous magazines and newspapers, including The Wall Street Journal, USA Today, The Washington Post, Forbes Magazine, and several other industry trades. He has authored a number of books and white papers, including BIAfn's State of the Radio Industry, BIAfn 's State of the Television Industry, The SMR Handbook, Going Digital (a primer of the conversion to digital television broadcasting) and a white paper Valuing Internet Companies. He is viewed as one of the leading authorities on communications property values and investments.