July 14, 2009

Minority Broadcasters Lobby Govt. For A Bailout

In this post, Danielle Belton talks about the fact that Radio One, based in Lanham, Maryland and only a few miles from the Washington, D.C.; is not asking for a bailout. They could actually walk to D.C., not like those guys from GM who rode in on hybrids, or those banking jack-behinds, who needed to fly in on private jets.

- It's the recession and everyone's broke, but in the media world, no one is more financially-challenged than minority-owned broadcasters (save maybe minority-owned newspapers). A group of broadcasters have now reached out to Fed Chairman Timothy Geithner looking for a financial hand-out (or hand-up depending on how you view it). What's surprising is how out of all the broadcasters listed on the letter no one from Radio One is there. The black-owned, Cathy Hughes-founded entity was trading on the stock market for less than a four-piece chicken McNugget a month ago. If anyone need an assist, it's them. But they seem to be absent in this S.O.S. Perhaps Cathy's got a hold card we don't know about that's above this kind of begging. Read more
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