Business: M. B. S.

With or without Politics, 1936 was a banner radio year. Recovery's impetus provided U. S. radio listeners with the most elaborate air shows since radio began. In October, campaign radiorators of all political parties used air time as it never had been used before, gave the networks all-time revenue highs for a single month. Last week, before the year closed, Mutual Broadcasting System accomplished what radiomen have long held improbable: a fourth coast-to-coast network.

To hold their major outlets across the U. S., National Broadcasting Co. (two networks) and Columbia Broadcasting System own...

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