The Minority Media and Telecommunications Council is asking for some changes to the FM bidding process from the FCC, with an eye to getting more stations in the hands of small businesses and by extension, more minorities and women.
For starters, it want the bidding credit upped from 35% to 60% for new entrants with no broadcast properties, and fro 25% to 40% for bidders with less than three stations.
To prevent excessive bidding, which it defines as 10% or more of available sticks, MMTC requests that the FCC require the minimum opening bid be paid up front on every facility for which the company plans to make a play.
It also says that it is difficult for small entrants to keep up with ad infinitum bidding, and requests that the auction be limited to six rounds.
Finally, it asks that the auction be postponed until the economy rebounds enough to reasonably loosen up the credit market.
RBR/ TVBR observation: We think just about everybody can get behind the concept of waiting until there’s cash available to bid with before putting anything of value on the market – and this is particularly true of a broadcast station which will trying to survive infancy in a very hostile advertising environment.