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.
