FCC's Starks: Policymakers Must Be More Inclusive

[Y2kTheNewOldies]

https://www.multichannel.com/news/fccs-starks-policymakers-must-be-more-inclusive

"We all have a part to play in the fight for equity and, as a communications policymaker, I take it very seriously. I am committed to continuing to advocate for inclusive broadband access and adoption policies and diversity in media ownership.


"Access to robust and affordable broadband allows our communities to call attention to civil rights violations, mobilize and organize for social change, and advocate for policy changes. Similarly, diverse ownership within the media landscape allows us to promote and take control of our own stories. We know there are wider political, economic, and social implications at stake in both of these issue areas.

"These challenging times are an opportunity to create real change in our country. To do that, now is the time not to just acknowledge the existing inequities in this country, but to eradicate them as we build the future all of our children deserve.”

FCC Commissioner has issued a statement on the response on Media ownership issue.

 

[TheBigA]

FCC Commissioner has issued a statement on the response on Media ownership issue.

More useless lip service. They've been talking about diverse ownership for 30 years. Ownership takes money. Unless there's a change in the way potential owners can raise the money, the ownership will continue to come from the same group of investment firms. There are lots of minorities who'd love to own radio stations, but they can't raise the millions of dollars it takes to buy one. Then they can't attract the ad money to keep the station alive. Diversity isn't the real problem, it's access to money.

 

[Chuck]

It's all about money. Always has been. Radio is a tough business these days.

 

[davideduardo]

More useless lip service. They've been talking about diverse ownership for 30 years. Ownership takes money. Unless there's a change in the way potential owners can raise the money, the ownership will continue to come from the same group of investment firms. There are lots of minorities who'd love to own radio stations, but they can't raise the millions of dollars it takes to buy one. Then they can't attract the ad money to keep the station alive. Diversity isn't the real problem, it's access to money.

And right now, who wants to own a stand-alone or small group of stations?

I know many people who had worked for decades in radio with the idea of eventually buying a station or two. Now, none of the (myself included) would even consider buying a radio station.

A friend who had still been tire-kicking stations that were for sale said that in these times of economic uncertainty and considerable social upheaval, buying a government regulated business would be crazy. My suspicion is that race and ethnicity will not have anything to do with future stations sales.

Of course, if you ask Gen X entrepreneurs if they have any interest in old media and you'll get a big "F No" answer.

This FCC position is simply posturing to look aware and a little bit woke. But it's more like the old "... deck chairs on the Titanic" rearrangement concept.

 

[PTBoardOp94]

This moment seems like one of the worst times to be buying "old media". At most times since I got into the industry in the 90s, there was a simple insurance policy: if the business went poorly, there would still be someone on the other side to buy the facility for a substantial sum of money.

That's really not the case now. And it remains to be seen what the long-term effects of the Coronavirus and the associated recession will be on "old media". I'm not especially optimistic on that front.

 

[TheBigA]

This moment seems like one of the worst times to be buying "old media".

I agree, and that's why this statement by the FCC Commissioner is so out of touch. He implies that there's something in FCC policy that's keeping minorities from buying broadcast stations. It's not bad policy. It's a bad investment. Minority investors are smart. The founder of BET took the billions he made from Viacom and ran. Even Byron Allen, who seems to have access to a lot of money, hasn't bought any radio stations.