More than a dozen minority broadcasters sent a letter to U.S. Treasury Secretary Tim Geithner today; urging him to provide financial assistance to help them weather the current economic and credit crisis. The letter asks him pay attention to the minority broadcasting industry, which has had difficulties continuing to access the capital markets.
Today’s appeal follows a letter sent in June from several House of Representative members that requested the Treasury department to take actions to support minority broadcasting with:
Enactment of an investment facility similar to the Auto Supplier Support Program to help restore credit flows to the broadcast sector.
Consideration to temporary bridge financing or government-backed loans (with warrants) until the economy improves.
The group lobbying Sec. Geithner includes media execs from National Association of Black Owned Broadcasters, KXTD Gaytan Broadcasting Media, LLC, Lazer Broadcasting Corp., Norsan Media, Carter Broadcast Group, Inc., Access.1, Taxi Productions, Inc., T&W Communications Inc., Cutting Edge Broadcasting Company.
See the letter to Geithner after the jump.