RTV Theory and Practice - Special Issue

the ownership type consisting of between 2 and 10 pnincipat owners. This ownership structure, indicative of the joint venture , has been hailed by those in the field of financing broadcast properties (National Bar Association Law Review Journal, 1983, p . 59) . They claim it- is the ideal form of station ownership because it allows more owners to contribute capital, but not so many owners that the original investors are distanced from decision making or interest in station management. A closer examination of ownership and prescriptions for increasing ownership levels should be addressed in the near future if blacks are to continue working toward economic parity with whites in the broadcasting industry . VIII LIMITATIONS/FURTHER ANALVSIS The results of this research indicate that the study of ownership and purchasing patterns is useful for gaining dešcriptive insight to the broadcasting industry as П affects minorities . What it also indicates is that more in-depth examination is needed to fully understand the nature of financing and purchasing a station as well as surviving with it опсе it J s purchased. The f ollowing аге some examples of important areas to consider when conducting this type of research in the future . When studying markets , it should be noted that the desirability of апу given market is difficult to determine without a clearer understanding of the income and buying power of a community , the strength of existing radio stations , and the potential for new stations to survive and prosper in the local economic climate . Theref ore , the suggestion that purchases in larger markets are necessarily better and more desirable than purchases in smaller markets may not reflect an accurate understanding of the broadcasting industry . As mentioned earlier , the biggest radio bargains may exist where stations аге less expensive, competition is less fierce, and there is greater growth potential . This study đid not attempt to master the complexities and precise characteristics of ownership which exist in апу industry including broadcasting , but it became increasingly evident while research was in progress that this is an essential element for understanding the behavior of both purchasers and sellers of broadcast properties. In orđer to understand this complexity , a thorough evaluation of ownership should be conđucted, including the explication of loan packaging formulas , gaining access to complete and accurate records over time , the abilit у to employ consistent methodological technigues , anđ developing direct access to

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