NABOB: 'African-American Buyers Continue To Be Shut Out Of Station Purchases'
March 4, 2014 at 3:54 AM (PT)
In its monthly newsletter, the NATIONAL ASSOCIATION OF BLACK OWNED BROADCASTERS takes on the state of minority-owned radio and TV stations, writing, "the refusal of station owners to sell to African-American buyers continues to wreak havoc upon the African-American community. In the latest development, YMF MEDIA has sold WBLS and WLIB -- the flagship stations of INNER CITY BROADCASTING CORPORATION’s former radio group -- to EMMIS COMMUNICATIONS. This means that, of the 17 stations previously owned by INNER CITY, none have been sold to African-American-owned companies. Moreover, potential African American buyers report that offers comparable to the EMMIS offer were rejected."
The editorial continues, "this reflects a lack of concern on the part of YMF and other station sellers to keep ownership of stations previously owned by African-Americans in the African-American community. It also reflects a lack of policies in place at the FCC to encourage station sellers to sell stations to companies owned by African-Americans," and notes "NABOB is continuing to encourage the FCC to establish policies that promote minority ownership. It is clear that, without such policies, the decline of minority ownership in the broadcast industry will continue."