Award Made of £58,646

Radio Record, Volume V, Issue 36, 18 March 1932, Page 6

Award Made of £58,646

Arbitrator’s Award Almost Double Former Estimate AN announcement that the Government would pay £58,646 to the Radio Broadcasting Company for the assets taken over as a result of the new arya ot control was made by the Postmaster-General, the Hon, A. Hamilton, ast week. The Minister recalled the agreement, made six years ago, whereby the Post and Telegraph Department was required to purchase the company's assets in the event of the company’s license not being renewed. An agreement as to the price to be paid could not be reached, and, in accordance with the terms of the agreement, the matter was referred to arbitration.. Mr. -Justice Blair was appointed arbitrator. After an extensive hearing and an examination of the four stations, he gave an award providing for the payment to the company by the Crown of £58,646/6/2. . "This liability will now be taken over by the Radio Broadcasting Board, which will be responsible for repaying the Crown, under an agreement to be entered into between the Board and the Government," added Mr. Hamilton. Cee eee eee ee ee Os