Radio waves.(US radio broadcasting industry)

Reason | June 1, 1999| | Copyright

American radio is very capitalist, in the crude sense of the word: The industry is a busy bazaar, rife with deal making, speculation, and scrappy hustlers trying to get rich quick. It is also very socialist, in the crude sense of the word: It has long relied on the government to protect its biggest players, shore up their profits, and ensure that the competition doesn't get too unruly.

And so, when the National Association of Broadcasters (NAB) held its annual Radio Show in Seattle last October, the trading floor was abuzz with the sound of entrepreneurship. ...

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