Members of the radio industry announced the formation of an industry-wide and industry-owned Internet network at The NAB Radio Show.
According to organizers, the network, called the Local Media Internet Venture (LMIV), will "revolutionize the radio industry's relationship to the Web" by providing technology, content and marketing needed to make local station Web sites compelling.
Bonneville International Corp., Corus Entertainment, EMMIS Communications, Entercom Communications and Jefferson Pilot are all a part of the effort.
EMMIS Chairman and CEO Jeff Smulyan will serve as LMIV's chairman. Jack Swarbrick, a partner in the law firm of Baker & Daniels who has served as lead consultant on the project, has been named president and CEO of LMIV.
Sharon Rae Pettigrew