In Washington just before the Senate's Interstate Commerce Committee listened to arguments why the Federal Communications Commission should be investigated, the Commission released its report on the 1940 revenues of the radio industry. Prime facts:
> Biggest moneymaker was CBS, with $31,137,823 in time sales, a net of $5,006,634.
> Next biggest was NBC: $37,137,823 in time sales, a net of $3,918,772.
>Mutual's time sales were $3,600,161, leaving it with a $39,712 net loss.*
> The major networks sold about half of radio's $154,823,787 worth of advertising, garnered some 5% of the net profits.