Public Radio: For Sale to Highest Bidder?
23 Sep 2004 00:28 GMT
It is not uncommon to read stories about media consolidation nowadays, with companies like Clear Channel and Entercom buying up small radio and TV stations and distributing their content across these various outlets, and making a hefty profit while they're at it. In the case of Clear Channel type consolidation, the company is going after small commercial stations. In Lowell, a similar situation is taking place but in this case it involves a corporation going after a non-commercial station. The corporation is MediaNews Group, owner of the Lowell Sun and the radio station is our own WUML, a small non-commercial radio station owned by the University of Massachusetts, Lowell. MediaNews is a newspaper investment company, with newspaper holdings across the country, as well as 4 radio stations. In FY 2003, the company totaled $738,598,000 in revenues from their varied holdings.