Radio: Profits v. Public Service

Network executives protested long & loudly that FCC's antimonopoly regulations would wreck their business. That was long before the U.S. Supreme Court gave FCC power to enforce these rules (TIME, May 24, 1943). Last fortnight FCC Chairman James Lawrence Fly issued a terse two-page report which showed that 1943 was radio's richest year. The lean, tart-tongued Chairman, blithely assuming that this war-made prosperity will be permanent, presented it as a complete refutation of the networks' squawks.

According to FCC, 796 standard broadcast stations netted $46,481,397 (before taxes) last year—a 52% increase over 1942....

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