NAB Statement on Introduction of Broadcast Station Ownership Legislation8/5/2021

FOR IMMEDIATE RELEASE
August 5, 2021

WASHINGTON, D.C. -- In response to the introduction of legislation to promote diversity of ownership in the broadcast industry, the following statement can be attributed to NAB President and CEO Gordon Smith:

'NAB and its members are strongly committed to market-based initiatives that expand radio and television station ownership opportunities for women and people of color. A tax incentive program is a proven solution that significantly diversified the ranks of broadcast owners over its nearly two decades of existence. Broadcasters thank Reps. Butterfield and Horsford and Sens. Peters and Menendez for introducing legislation that would reinstate the program and we urge swift passage of this important initiative this year.'

Background: Sens. Gary Peters (D-MI) and Robert Menendez (D-NJ) recently introduced the S.2456, Broadcast VOICES Act, in the Senate and Reps. G.K. Butterfield (D-NC-1) and Steven Horsford (D-NV-4) introduced H.R. 4871, the Expanding Broadcast Opportunities Act of 2021, in the House of Representatives. The bills would authorize the Federal Communications Commission to reestablish the Minority Tax Certificate Program, which would provide a tax incentive to those who sold their majority interest in a radio or television station to underrepresented broadcasters.

About NAB

The National Association of Broadcasters is the premier advocacy association for America's broadcasters. NAB advances radio and television interests in legislative, regulatory and public affairs. Through advocacy, education and innovation, NAB enables broadcasters to best serve their communities, strengthen their businesses and seize new opportunities in the digital age. Learn more at www.nab.org.