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King seems to be using it to mean "fine, excellent, perfect" which is slightly different than what Wikipedia says."Five by five" (occasionally written "'5 by 5", "five-by-five", "5 × 5", "5-by-5" or even just "Fives"), by extension, has come to mean "I understand you perfectly" in situations other than radio communication. Further shortened forms are "five by", "fivers" and "fifers". Post-World War II, the phrase "loud and clear" entered common usage with a similar meaning.