Well, sort of.
Chester Davenport is believed to be one of the wealthiest black entrepreneurs in America. Via his Georgetown Partners firm, he has made quite a name for himself.
Now, he is trying to influence one of the largest business mergers of the upcoming year. As you may be aware, the two satellite radio companies, XM and Sirius are talking about joining forces. This could mean that there would be more than 300 nationwide radio channels under one company’s control.
Davenport believes that there should be opportunities for minority broadcasters to lease channels on the new XM/Sirius network. What Davenport is speaking of is a share of the pie that could mean between 50-100 satellite channels. Right now, the odds are not stacked in his favor. The current FCC chair, Kevin Martin, has shown that he is willing to side with the big corporations over the rights of minority ownership.
So, let’s see what happens. I will say that I hope that we will not see minority radio owners shut out of the new frontier of satellite radio.
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