This is getting ridiculous. Now the Congressional Black Caucus wants a bailout for radio. minority owned radio stations. Inner City Radio, Inc. It seems that the group owner of 17 radio stations finds themselves $230 million dollars in dept. Is that all?
Never mind the fact that helping only minority owned radio stations and Inner City Radio, Inc., in particular seems, I don’t know, what would be the appropriate word for it… racist, or at least discriminatory. Never mind the fact that in this day and age, $230 million in dept is a mere drop in the bucket, especially for a group that owns stations in major market like New York (WBLS, WLIB) and San Fransisco (KBLX), not to mention several other stations in smaller markets.
Why should my tax money go to another corporation that was poorly run? Why should I reward somebody else bad behavor? I said it before:
No bailouts for radio. No bailouts for big corporate radio, no bailouts for minority radio, no bailouts. Let the markets and the financiers sort it out, the only way it can get better is if it gets worse.
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