However radio broadcasting may stack up among the arts, it is no slouch as a business. Last week the Federal Communications Commission, after looking at the records of the 660 active U. S. commercial broadcasting stations and the three major networks which feed 350 of them, revealed how radio stood in 1938. Its plant value and investment totaled $1,068,339,901. Total revenues (time sales, talent placing, rental of network facilities, etc.) were $111,358,378. Broadcasting expenses (talent costs, advertising, promotion, administration, etc.) were $92,503,594. Net income from broadcasting in 1938: $18,854,784, 17% less than...
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