A Broker’s Guide To LMAs
By Erwin Krasnow and Colin Andrews
A Local Marketing Agreement (LMA), also known as a Time Brokerage Agreement (TBA), is the sale by a licensee of discrete blocks of time to a “broker” that supplies the programming and commercial spot announcements to fill that time.
While LMAs have been around since the mid-1990s, we know of no FCC decisions or articles that focus on the role of the broker.
We will fill that void by providing advice tailored to individuals or companies contemplating entering into an LMA.