Washington, D.C. (September 11, 2014): Bayou City Broadcasting Evansville Inc. recently announced that it has entered into an agreement with Nexstar Broadcasting Group to purchase CBS affiliate WEVV in Evansville, IN, for $18.6 million. The Minority Media and Telecommunications Council lauds this transaction as a definitive step toward increasing diversity in broadcast ownership across the nation.
Minority broadcast ownership has plummeted since Congress repealed the Federal Communications Commission’s Tax Certificate Policy in 1995. During the 17-year lifetime of the policy, which was designed to provide tax incentives to increase diversity in broadcast ownership, the Commission granted 356 tax certificates – 287 for radio, 40 for television, and 30 for cable franchises. This policy was the most effective measure in increasing broadcast diversity, as the FCC has been mandated by Congress to do, but minority ownership has fallen to statistically zero since the policy’s repeal. Bayou City’s purchase is the first completely independent acquisition by an African-American broadcaster in years, and a noteworthy achievement.
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About MMTC: MMTC is a 28-year old, non-partisan, non-profit civil rights organization focused on preserving and expanding minority ownership and closing the digital divide. MMTC is generally recognized as the nation’s leading advocate for minority advancement in communications.