Broadcast Diversity: It’s Good Business

BROADCAST DIVERSITY: IT'S GOOD FOR BUSINESS
[SOURCE: Broadcasting&Cable, AUTHOR: David Honing, MMTC]
[Commentary] Recently, the Minority Media and Telecommunications Council (MMTC), Clear Channel Communications and the National Association of Broadcasters Education Foundation hosted a conference to ensure that minorities and women have information and resources to buy the significant number of media assets Clear Channel is selling. Other broadcasters, like CBS Radio and Emmis, also have sought diversity when selling broadcast assets. This is a welcome development. The nation can't walk the walk when groups representing a third of its people -- minorities -- and over half of its population -- women -- can't unlock their full entrepreneurial and management potential in influential industries. Minority ownership still accounts for only 1.5% of broadcast-industry asset value; for women-owned stations, it’s about the same. In the midst of the current media-ownership debate, we can agree these statistics are unacceptable. Recruiting minority and female station buyers is not just right, it’s smart business. More bidders mean more money, which means higher multiples paid by all bidders, including non-minorities. It’s not charity, nor is it supposed to be. It’s a great opportunity for all parties involved.
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