FCC exits capital city to discuss access to capital


One of the biggest sticking points in the battle to increase the percentage of minority and female broadcast ownership is finding the cash to allow would-be buyers to acquire a station when one comes on the market. The FCC is going to go directly at this question in a special session, also billed as the July Open Meeting, which will be held at Barnard College in New York City next week on Tuesday, 6/29/08. With this goal in mind, it will focus on the current state of the capital market, a real-world look at attempts to capitalize such companies, and assess steps the FCC might take to improve matters. It will also feature a “break-out session” during which meeting attendees can meet members of the financial community.

RBR/TVBR observation: This is not a good time to be hunting around for capital in general, so if there is anything the FCC can do to grease the wheels, it will be a good thing. Simply focusing the spotlight on this issue is a start, and who knows – maybe during the break-out session, perhaps the seeds will be sown for the next minority- or female-owned group of stations.