FMC Study Claims Link Between Ownership Concentration, Layoffs, Lower Wages
August 10, 2006 at 6:11 AM (PT)
A study by the FUTURE OF MUSIC COALITION claims that the radio industry has experienced layoffs and lower wage growth in most U.S. cities, and blames the situation on ownership concentration. The study attempts to draw a causal relationship between concentration- the combined market share of the top four radio companies- and greater job loss and smaller wage growth, noting that consolidation and centralization of operations since 1996 has led to cutting local jobs and increased use of voice tracking.
"Consolidation in radio ownership hasn't just homogenized music formats," said Exec. Dir. JENNY TOOMEY. "It has devastated the broadcast profession and virtually eliminated the ability of radio stations to provide unique coverage of local news, music and community issues. Before the FCC moves forward to further loosen already weak ownership limits, it should understand the impact that deregulation has had on jobs and communities."