In Chicago, Federal Communications Commission Chairman Wayne Coy told delegates of the National Association of Broadcasters that their industry had earned $460 million in 194910.3% more than in 1948. But a closer examination revealed some weak timbers in the profit structure. Despite the high industry-wide figure, Coy warned that 1) 91 of the nation's 97 TV stations lost money and 2) the average net income before taxes reported by 645 of some 1,500 U.S. radio stations was only $6,700. "The unpleasant prospect," said Coy, "is that the competition . . . may be too severe and some of these stations may...
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