Several dozen broadcasters and investors are examining ways to bo...
Several dozen broadcasters and investors are examining ways to boost minority engagement in the industry by boosting funding for small station deals, said Minority Media & Telecom Council (MMTC) Exec. Dir. David Honig. MMTC’s Broadcast Finance Working Group met…
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Tues. to discuss how to teach would-be broadcasters to raise money and close deals, he said. Hundreds of broadcasters, mostly small-city radio stations, may be sold by ABC-Citadel, Clear Channel, Univision and others as companies confront FCC ownership caps. “There’s a lot of equity for big deals, but not a lot of equity for small deals,” Honig said, declining to identify task force members. Broadcasters seem to support congressional reinstatement of tax breaks for stations sold to minorities, he said: “We've gotten very enthusiastic and broad-based support throughout the communications industry, the communications bar and financiers for this effort.” Rep. Rush (D-Ill.) introduced HR-600 to restore minority tax certificates. The bill has been referred to the House Ways & Means Committee, Honig said.