Peters Reintroduces Legislation to Increase Diversity of Ownership in Broadcast Industry

WASHINGTON, DC– U.S. Senator Gary Peters (MI) reintroduced theBroadcast Varied Ownership Incentives for Community Expanded Service (VOICES) Actto increase diversity of ownership in the broadcasting industry by encouraging investment in women and minority-owned stations.
“Millions of Americans get their news everyday through TV and radio. When broadcasters reflect the people they serve, it helps elevate different perspectives and stories that may not yet have been told,”said Senator Peters.“That’s why I am proud to again lead theBroadcast VOICES Actto encourage more investment in minority-owned stations and boost diversity in American television and radio.”
Peters’Broadcast VOICES Actwould:
Peters’Broadcast VOICES Actis cosponsored by U.S. Senators Richard Blumenthal (D-CT), Brian Schatz (D-HI), Tammy Baldwin (D-WI), Amy Klobuchar (D-MN), Martin Heinrich (D-NM) and Ben Ray Luján (D-NM). Companion legislation was introduced in the House by U.S. Representative Steven Horsford (D-NV).
First established in 1978, the Minority Tax Certificate Program provided a tax incentive to those who sold their majority interest in a broadcast station to individuals with diverse backgrounds. From 1978 to 1995, the program was highly effective in leveling the playing field for underrepresented broadcasters, increasing diverse ownership in broadcast stations by more than 550 percent. Despite this success, Congress repealed the program in 1995.
However, a 2023 report found that among the approximately 1,760 full-power commercial broadcast television stations in the United States, only 5 percent were owned by women and less than 4 percent by minorities. Further, it found that women owned only 10 percent of FM broadcast radio stations, and minorities owned less than 3 percent of those stations.
By reinstating this historically effective tax certificate, theBroadcast VOICES Actwould help bring more women and people of color into station ownership while also assisting with access to capital. Peters has consistentlyledthis legislation.
TheBroadcast VOICES Actis supported by the National Urban League, National Association of Broadcasters, National Association of Black Owned Broadcasters, Multicultural Media, Telecom & Internet Council, League of United Latin American Citizens, and the Hispanic Federation.
###