On August 6, a coalition of 10 radio broadcasting companies penned a letter to the radio broadcasting industry that, unequivocally, puts in print their support of increased industry consolidation. The letter comes following a proposal drafted in June by the NAB that would eliminate FCC-mandated subcaps in markets ranked higher than No. 75, and allow one company to own as many AM stations as they wish, regardless of market size.
Those signing the letter, in which group heads argue that further consolidation will, among other things, lead to greater programming diversity and advertiser benefits, include Townsquare Media co-CEOs Bill Wilson and Dhruv Prasad. Townsquare facilitated the distribution of the letter.
If the Commission goes along with the NAB plan, Townsquare could theoretically own all of the radio stations in all but four of the markets it operates in. Is this fair? Is this how radio industry leaders believe the battle against local digital media group should be waged?
RBR+TVBR asked Townsquare Media why it is in support of the NAB plan. Here’s what they said.