500,000 DOLLARS

Radio Record, Volume I, Issue 48, 15 June 1928, Page 3

500,000 DOLLARS

BIG LOSS IN BROADCASTING [2 would seem that broadcasting in America is not yet a lucrative investment, The president of the National Broadcasting Company of America, which furnishes programmes through fiftyfive broadcasting stations, in reporting to the Advisory Council of the company at its second meeting in March last, sixteen months after its formation, made use of the following statement :-- "While the National Broadcast-' ing Company has invested for its owners, the Westinghouse Electric and Manrfacturing Company, the General -tlectrie and the Radio Corporation of America, more than three and one-half million dollars in the equipment for broadcasting, at an operating loss of approximately five hundred thousand dollars for the first fourteen months of its existence, we have kept faith with out great audience, and have provided only those programmes which we would accept without question in our own homes." ’