Aug 21, 2008

Mass Media | Media Ownership Deregulation Has Helped Radio

Lowry Mays is the chairman and CEO of Clear Channel Communications, a Texas-based media company. After the Telecommunications Act of 1996 lifted national radio ownership caps, Clear Channel aggressively acquired radio stations nationwide to become America’s largest radio company. The following viewpoint is taken from testimony Mays provided for Congress in January 2003. Mays argues that the radio industry was in dire financial shape prior to 1996 and that deregulation has left the radio industry healthier than ever before, to the benefit of both radio listeners and station owners. He...