Broadcasting a Different Hue

By Doby, Hersch | Black Enterprise, February 2000 | Go to article overview

Broadcasting a Different Hue


Doby, Hersch, Black Enterprise


$175 million minority investment fund aimed at adding diversity

An initiative to raise $1 billion, spearheaded by television and radio industry giants to promote diversity in their ranks, was recently announced. But while the effort--dubbed the National Broadcasting Fund--has been applauded by many, the lack of participation by key African American groups has raised a few concerns.

Top members of the television and radio industry gathered in Washington, D.C., to introduce the National Broadcasting Fund, which aims to stimulate greater minority and female representation in station ownership. CBS President and CEO Mel Karmazin and Lowry Mays, chairman and CEO of Clear Channel Communications, co-chairs of the fund, have aligned the major television networks--CBS, NBC, ABC and Fox--with Viacom, Tribune Broadcasting and Infinity Broadcasting, among others, to create the fund. BE 100s communications firms Granite Broadcasting and Radio One (No. 8 and No. 40, respectively, on the BE INDUSTRIAL/SERVICE 100 list) have also invested in the fund.

The fund has already received commitments of $175 million from its investing partners, says Reg Hollinger, managing director of Chase Manhattan Corp.'s Global Media and Telecommunications Group. Chase Capital Partners (CCP), the private equity unit of Chase Manhattan, will manage the fund. Hollinger was recently named managing partner and will oversee it.

The National Broadcasting Fund has no formal application process, but its executives are looking for entrepreneurs with strong business plans and demonstrated management ability. Chase is already reviewing submitted business plans with the intention of meeting with entrepreneurs and making actual investments in their companies in early 2000, says Hollinger.

"We've had a terrific response since it was announced," says Hollinger. "The fund wants to consider all sorts of companies. We don't want to exclude start-ups, midlife or mature firms. The single most important criterion is the business plan, not the size or maturity of the [applying] company."

Federal Communications Commission (FCC) Chairman William E. Kennard heralded the National Broadcasting Fund as a major opportunity to increase minority ownership in broadcasting, praising the broadcasters for helping make the communications industry more accessible. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Broadcasting a Different Hue
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.