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Federal Communications Commission
445 12th Street, S.W.
Washington, D.C. 20554
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Internet: http://www.fcc.gov
TTY: 202/418-2555


This is an unofficial announcement of Commission action. Release of the full text of a Commission order constitutes official action. See MCI v. FCC. 515 F 2d 385 (D.C. Circ 1974).

FOR IMMEDIATE RELEASE:
November 3, 1999



STATEMENT OF FCC CHAIRMAN WILLIAM E. KENNARD ON BROADCASTERS' LEADERSHIP IN CREATING MAJOR INVESTMENT FUND TO BOOST WOMEN & MINORITY OWNERSHIP


All too often women and minorities run into a glass ceiling when it comes to ownership and management opportunities in the broadcast industry. Last year, I challenged the broadcast industry to shatter these barriers and to make equal opportunity a reality in their businesses. Today, the industry is taking a first critical step to meet that challenge.

The Prism Fund will give women and minorities access to badly needed capital. At a time of rising prices for radio and TV stations, the fund will help women and minorities purchase and run their own radio and television stations, giving them the opportunity to participate more fully in one of our nation's most important communications mediums. I applaud the broadcasters for their vision and for helping make the communications industry accessible to all Americans.

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