Minority Broadcasters Take Bailout Case To White House
August 6, 2009 at 5:00 AM (PT)
Minority broadcasters took their case for a piece of the federal bailout to the WHITE HOUSE at a meeting with senior OBAMA administration officials.
The meeting was disclosed in an op-ed piece in the NEW YORK DAILY NEWS by INNER CITY BROADCASTING CORP. Chairman PIERRE M. SUTTON, who argued in the piece, "No new laws would have to be passed. The Treasury Department can easily tap into funds already appropriated under the Troubled Asset Relief Program, which has helped to restore credit flows to the financial and domestic automobile supplier industries. Bridge financing or government-backed loans could also be provided until the financial system recovers.
"Minority radio stations aren't failing businesses begging for handouts; they're healthy enterprises, beset by a perfect storm of bad circumstances, that are in need of a lifeline. At a time when millions of African-Americans and Latinos need information and opportunities to get jobs and build businesses, let's not pull the plug on black and Hispanic radio."
Read SUTTON's column by clicking here.