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

1 comment:

  1. we shouldn't bailout those who continue to play by a business ideaology that plays them in return, these owners now want a bailout, the same owners that signed off on the ppm in the first place, the same owners who knew the diary method was inaccurate aswell, but because they placed in the top 5 remained silent, and the unfair rates of madison ave they remained silent, there is starting to become a clearer picture here, i hope others can see it.


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