Troubled Minority Broadcasters Relief Program?

Matt Welch | July 14, 2009

The Wall Street Journal reports on the latest in a long line of bailout begs:

A group of minority broadcasters asked Treasury Secretary Timothy Geithner Monday for financial assistance akin to the aid that has been extended to the financial and auto industries.

"Minority-owned broadcasters are close to becoming an extinct species," the letter said. "Even in better economic times, minority broadcasters have historically had difficulties accessing the capital markets."

The broadcasters told Mr. Geithner they can bounce back if they are given some temporary assistance while the credit markets are slow. "Unlike the auto business, broadcasting has been healthy for many years," their letter said.

The broadcasters appeal follows a proposal sent in May to Mr. Geithner by a group of influential House members asking for a minority broadcaster support program, bridge funding, or government-backed loans.

The House letter was signed by House Majority Whip James Clyburn (D., S.C.) and a group of key committee chairmen, including Financial Services Committee Chairman Barney Frank (D., Mass.) Ways and Means Committee Chairman Charles Rangel (D., N.Y.) and Oversight Committee Chairman Edolphus Towns, (D., N.Y.).

I've always found it strange that a federal agency originally tasked with divvying up then-scarce broadcast spectrum would delve so deeply into the question of how many minorities own broadcast companies, but then I'm easily confused.

Just before last November's election, Jesse Walker wrote about what a Barack Obama FCC might do, concerning minority broadcasters and otherwise.

Comments

bailout nazi|7.14.09 @ 4:23PM|#

NO BAILOUT FOR YOU.

pre-godwinned for your convenience

Ska|7.14.09 @ 4:29PM|#

That's a pretty impressive list of shitheads for a short post about minority broadcasters (which I'm guessing is a pretty miniscule segment of anything). Fuck it, bailouts for Polish-American-Eskimo landscapers. Without it, they just might not make it through the recession.

People should get used to the idea of "going concern," and that it applies to every business.

smartass sob|7.14.09 @ 4:36PM|#

What's next - bailouts for Christian broadcasters or televangelists?

Minority Broadcaster|7.14.09 @ 4:40PM|#

I need to get paid, man.

Steven Hall|7.14.09 @ 4:41PM|#

Are not white males a minority? I doubt that they make up more than 30% of the population.

|7.14.09 @ 4:45PM|#

Maybe if The Source Awards didn't get more lavish every year, BET wouldn't need a bailout.

The Angry Optimist|7.14.09 @ 4:46PM|#

Steve Hall - you don't use the term "minority" and contrast with the word "majority". It's used in contrast to "dominant" or "plurality".

ed|7.14.09 @ 4:53PM|#

An individual is the smallest minority, and the most consistently abused.
Just sayin'.

Xeones|7.14.09 @ 4:57PM|#

An individual is the smallest minority, and the most consistently abused.
Just sayin'.

Exactly! BAILOUTS FOR EVERYBODY

|7.14.09 @ 4:59PM|#

Hey Sug-Free! What's new with the wacko broads?

Zeb|7.14.09 @ 5:05PM|#

What the FCC should really be doing is to do something about people with those damn FM transmitters for their sattlellite radios and ipods which so often interrupt my radio reception when I am driving home. Their purpose is to regulate use of broadcast spectra, not to worry about content or who owns media outlets.

|7.14.09 @ 5:06PM|#

Wacko broads? Did LW get backup singers?

Warty|7.14.09 @ 5:12PM|#

since SugarFree is slacking. Fat stewardesses deserve respect too!!!!!!!!!!!!!!

|7.14.09 @ 5:20PM|#

Thank you, Warty.

BTW, isn't a US size 18 already f*cking enormous?

Warty|7.14.09 @ 5:23PM|#

I like how they requested up to 28. Does a size 28 stewardess get to request a special plane with widened aisles?

Ska|7.14.09 @ 5:40PM|#

WTF waist does a size 28 translate to? A size 8 is like a 30" waist....

The Libertarian Guy|7.14.09 @ 7:36PM|#

Too late now... if the minority broadcasters don't get taxpayer money, the cries of "racism" will be loud and far too strident.

Fist of Etiquette|7.14.09 @ 11:10PM|#

When are they finally going to perfect that black Hannity that we all know they've been working on?