A new podcast series will offer a master class on the best ways to become a station owner — with a focus on encouraging Black owners to become part of the broadcast community.
The National Association of Black Owned Broadcasters (NABOB) has created two audio and video podcast series, the first of which will premiere on Aug. 30. Hosted by NABOB President and CEO Jim Winston, the podcast series “How to Buy a Commercial Broadcast Station” will showcase the fundamental processes and the essential team of advisors one needs to successfully purchase a commercial broadcast radio or television station.
Spread over 10 episodes, the series will include experts from fields such as policy and law, engineering, finance, station brokerage and station ownership. The series will touch on topics such as due diligence, FCC regulations, technology, business operations and human resources.
“This first series of podcasts provides an education that cannot be found anywhere,” Winston said. “We are confident that this critical information will be a great benefit to those entrepreneurs and for anyone interested in an in-depth education about station acquisition and operations.”
The second series of podcasts — “Digital Sales Strategy for Commercial Broadcasters” — will build on that instruction by educating existing station owners about how to develop and monetize their digital assets.
According to the NABOB, there is an inequity when it comes to Black ownership of broadcast facilities. Black people make up 13% of the American population yet own only 2% of all commercial broadcast stations in the U.S. and receive only 2% of media advertising revenue, the organization said.
The two series were financed through the Diverse Owned Incubator Fund, an initiative created by General Motors in 2021. Over the next 10 years, GM has committed to allocate $50 million to various companies to support and better engage with diverse media outlets.
NABOB is the first recipient of the fund, Winston said. “GM recognized that promotion of successful entrepreneurs in the broadcast industry will help build stronger communities where those potential owners acquire stations,” he said. “GM also recognized that helping existing station owners to diversify their operations by further developing and enhancing their digital operations and sales efforts is an important part of helping those stations to serve their communities.”
The featured guests and the premiere date for the second podcast series will be announced on Aug. 23, 2023.
