RTV Theory and Practice - Special Issue

111 LOAN PROGRAMS EXAMINED Programs which offered loans to minorities for the purchase of broadcast properties were available during this time from many đifferent sources , including the Small Business Association (S.B.A), State Minorit/ Investment Loans, Storer Broadcasting Сотрапу loans , and toans from other , smaller groups. The loan program which received the most; attention in the industry press and from broađcasters m general was the Broadcap loan program administered first through the National Association of Broadcasters until its formation as a non-profit group . Broadcap and the S.B.A. were expected to have the biggest impact on minority ownership because they had sufficient capital to fund several purchases , but lacK of access to S.B.A. information and the time reguiređ to collect mformation from the smaller loan programs mađe it impossible to examine the use of these loans so Broadcap is the only loan program examined in this study . Broadcap Loans: Broadcap was establisheđ m December , 197 8 to proviđe capital for mmorities mterested in purchasmg broadcast stations . ABC , NBC , and CBS each donateđ $2.5 million to Kick-of f the program . Ву August of 1979, the National Association of Broadcaster's first solicitation for its new Fund amounted to $1.2 mitlion , bringing the total to $8.7 million for investment in minority properties (Broadcasting, 8.13.79, p.25). IV REGULATION/POLICV DEVELOPMENTS In addition to the incentives and loan programs , rađio deregulation , changes m the policies concerning allocation of the radio spectrum , and developments in cable and low power television are the areas of regulation which seem most likely to have inftuenced the attractiveness of radio to mmority purchasers between 1978 and 1983. Radio deregulation was designed in the late 19 70's by the Carter ađministration and implemented m the 1980's by the Reagan administration . Under dereguiation . f ormal ascertamment of community needs , reguirements for non-entertainment programmmg , ađvertismg guiđelmes , and reporting reguirements were all droppeđ . Ву 198 1 post card renewals were in effect for rađio licensees , and m 1982 Congress extended the license penods for radio to five уеагз , anđ to seven years for television (Broadcasting , August 2,

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