"Minority" Broadcasters Seek Federal Aid
 

Minority Broadcasters Seek Federal Aid
By FAWN JOHNSON

WASHINGTON --A group of minority broadcasters asked Treasury Secretary
Timothy Geithner Monday for financial assistance akin to the aid that
has been extended to the financial and auto industries.

"Minority-owned broadcasters are close to becoming an extinct
species," the letter said. "Even in better economic times, minority
broadcasters have historically had difficulties accessing the capital
markets."

The broadcasters told Mr. Geithner they can bounce back if they are
given some temporary assistance while the credit markets are slow.
"Unlike the auto business, broadcasting has been healthy for many
years," their letter said.

The broadcasters appeal follows a proposal sent in May to Mr. Geithner
by a group of influential House members asking for a minority
broadcaster support program, bridge funding, or government-backed
loans.

The House letter was signed by House Majority Whip James Clyburn (D.,
S.C.) and a group of key committee chairmen,

including Financial Services Committee Chairman Barney Frank (D.,
Mass.)
http://www.discoverthenetworks.org/i...asp?indid=2384

Ways and Means Committee Chairman Charles Rangel (D., N.Y.)
http://www.discoverthenetworks.org/i...asp?indid=2085

and Oversight Committee Chairman Edolphus Towns, (D., N.Y.).

At a hearing last week, National Association of Black Owned
Broadcasters President James Winston told lawmakers that advertisers
have severely cut investments in minority audiences at the same time
minority broadcasters are having difficulty negotiating loan terms
with banks.

Research from the Internet advocacy group Free Press
http://www.discoverthenetworks.org/g...asp?grpid=7103
http://newsrealblog.com/2009/07/06/n...ess-secretary/

says minorities own just 7.7% of full power commercial radio stations
and 3.2% of full power commercial TV stations.

Minority broadcast ownership also is an issue important to Federal
Communications Commission Commissioner Michael Copps, who was acting
chairman of the agency earlier this year.

Companies and groups that signed on to the Geithner letter included
the National Association of Black Owned Broadcasters, the Inner City
Broadcasting Coalition, the Spanish Broadcasting System, Taxi
Productions Inc., and Carter Broadcast Group, Inc.

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