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203, 470

84 54, 050 55, 500 150, 000

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(1) 719, 564 761, 992 660, 800

757, 881 1, 791, 797 1, 587, 824

374, 850 850, 886

76, 720 499, 873 242, 400 512, 982

37, 010 331, 725 504, 879

8, 000 66, 873 566, 141

60, 000 109, 100 114, 000

39, 800 172, 300 21, 139 17, 133 81, 700 22, 120

1, 250 43, 700

15, 180

43 65,988 (1)

76, 700 2. 101, 643

45, 300 36, 700 75, 746 423, 734 612, 707

5, 177 999, 794

36, 500 229, 395 11,951

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Chase Manhattan Bank-Continued

Twentieth Century Fox.
Providence Journal.
Multimedia..
Media Horizons.

Rahall...
Bankers Trust Company

Meredith Corp...
Times Mirror Co..
RCA.
ABC.
Dun & Bradstreet.
Westinghouse..
CBS.
GCC Communications of Philadelphia.
Transamerica.
Taft Broadcasting -
NLT Corporation.
Capital Cities Broadcasting-
Travelers Insurance-Common.
Travelers Insurance-Preferred.
Rollins.
Schering-Plough.
Starr Broadcasting
Columbia Pictures..
Metromedia.
Wometco.
Lin Broadcasting-
Cox Broadcasting -
Warner Bros-7 Arts.
Storer...
ISC Industries
Boston Herald Traveler.
Knight Newspapers.
Citizens Financial Corp.
Chris-Craft.

Refac, Inc.
United States Trust Company

Times Mirror Co..
Dun & Bradstreet,
Capital Cities Broadcasting-
Williams County Broadcasting-
GE...
Golden West Broadcasting-
Schering-Plough..
CBS..
Media Horizons.
Gannett Broadcasting--
Rahall.
NLT Corporation.

Rust Craft,
First National City Bank

Capital Cities Broadcasting-
Westinghouse.
ABC..
Travelers Insurance-Common.
Travelers Insurance--Preferred.
Devon Corp
RKO General.
Kansas City Southern Industries -
Pacific SW Airlines .....
Downe Communications.
Avco.
Time-Life.
CBS..
Ridder Publications..
New York Times-Other.
Schering-Plough..
NLT Corporation.
Zenith.

BNA Corp-
Mellon Bank and Trust

621, 165 1, 168, 044 328, 588

19 2, 309, 912

212, 227 411, 130 315, 324

40, 000 104, 802

12, 500 183, 004 24, 300

Mellon Bank and Trust-Continued

CBS.
Multimedia.
Metromedia.
Rust Craft.

Transamerica.
Manufacturers Hanover Trust Co.

Times Mirror Co.
Pulitzer Co.
Metromedia.
New York Times..
ABC.
GE...
Cowles Communications.
Capital Cities Broadcasting-
Dun & Bradstreet.
Westinghouse.
Travelers Insurance Common.
Travelers Insurance-Preferred.
Schering-Plough.
Starr Broadcasting-
Time-Life..
Outlet Co..
Vermont Broadcasting -
H & B American.
Pacific SW Airlines
Knight Newspapers.
Ridder Publications - Preferred..
Media General Corp.-
Pueblo International Broadcasting-

GCC Communications of Philadelphia. Bank of New York

ABC.
Westinghouse.
CBS.
Taft Broadcasting-
Wometco.
Travelers Insurance
Fairchild Hiller..
New York Times--Common.
New York Times--Other..
Time-Life
Columbia Pictures
Pacific & Southern..
NLT Corporation.
Storer...
Metromedia
Capital Cities Broadcasting-
Publishers Broadcasting-
Adams-Russell
Bankers Securities Corp--
Times Mirror Co..
RKO General---Common.
RKO General- Preferred.
Sonderling Broadcasting-
Lee Enterprises
Lip Broadcasting-
Devon Corp.
Combined Communications.
Ridder Publications,
Twentieth Century Fox.
Gable Industries.
Chris-Craít.
Du Art Film Labs
Knight Newspapers.
Rollins.
Zenith

Cox..---
Wilmington Trust Co.

Pacific SW Airlines.
Warner Bros.-7 Arts.
Rollins..
AVC Corp.

Central Broadcasting Co.
First National Bank of Chicago

CBS.
Copley Press.
Capital Cities Broadcasting.
Zenith.
RKO General
Harriscope.
Pacific SW Airlines.

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513, 400
495, 555
914, 013
76, 300
50, 000
22, 224
71, 309

4,000
245, 700

79, 200 418, 203 245, 800 633, 105 119, 700 263, 911 75, 000 14, 129 74, 800 2, 076

7, 500 1,005, 923

2, 376 36, 400 47, 800 35, 000 24, 754 105, 821 596, 265 361, 109

25, 000 152, 901

2, 000 70, 000 290, 900 479, 510 214,000

443, 268 1, 495, 797

107, 786 768, 016 28, 603 21, 740 183, 422 32, 728 40, 150 142, 212

63, 547 167, 932 578, 151 120, 000

460 254, 800 524, 601 229, 210 160, 000

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49,000 52, 100 109, 327 12, 000

105

Westinghouse-Common.
Westinghouse-Preferred..
ABC..
Capital Cities Broadcasting-
Times Mirror Company.
Stauffer Publications..
Pacific SW Airlines.
Media General Corp.

Time-Life.--.
Footnotes at end of table.

1, 349, 874

5, 140 98, 542 99, 000 775, 800

3, 878 78, 700 40, 000 208, 000

700, 507 26, 136

82, 630 1, 495, 586 679, 349 16, 665 60, 400

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Continental Illinois National Bank

Westinghouse.
Dun & Bradstreet.
Field Communications -
Chicago Tribune.
Globetrotter Communications.
CBS.
Taft Broadcasting-
Capital Cities Broadcasting-
RKO General---Common.
RKO General-Preferred.
RCA.

Zenith..
Chemical Bank

ABC.
Westinghouse
Taft Broadcasting -
Travelers Insurance-Common.
Travelers Insurance-Preferred.
Columbia Pictures..
Zenith

Warner Bros. -7 Arts.
Northern Trust-Chicago

Galesburg Printing-,
H&E Balaban Corp-
Dun & Bradstreet.
Travelers Insurance-Common.
Travelers Insurance-Preferred.
Rollins.

Lee Enterprises.-
Old Colony Trust-Boston

Avco Corp.-Common.
Avco Corp.-Preferred.
Guy Gannett Corp-
Travelers Insurance-Common.
Travelers Insurance Preferred.
Boston Herald Traveler..
Twentieth Century Fox.
CBS.
Columbia Pictures ..

Wometco....
Harris Trust & Savings Bank

Combined Communications.
Dun & Bradstreet.
Zenith.
Schering-Plough.
Time-Life
Multimedia
Wirtz Corp.

(')

: 360 799, 530 555, 702

5, 868 225, 950 37, 200

Bank of America

Sierra Pacific Radio.
Capital Cities Broadcasting-

74, 400 Taft Broadcasting

70, 814 Times- Mirror Co..

157, 194 Lin Broadcasting

41, 770 Publishers Broadcasting Co..

1, 000 Cedar Rapids TV Co.

167 Kaiser..

: 200, 020
Geo Cameron Co.
Cleveland Trust Co.

None.
National Bank of Detroit
Lamar Life Insurance.

23, 628
Girard Trust Bank
ABE Broadcasting-

(9 Westinghouse.

109, 991 Times-News Publishing

1, 232 Travelers Insurance-Preferred.

74, 061 First Pennsylvania Bank & Trust Superior Tube Co--

123, 640 Travelers Insurance-Preferred..

18, 515 Merchantile Safe Deposit & Trust-Baltimore A. S. Abell Co...

:8, 465 Dun & Bradstreet.

352, 339 Rollins.ca

83, 740 Security Pacific National Bank ABC.

225, 150 WABY, Inc. Earl C. Anthony, Inc.

(") Vindicator Printing Co..

500 Boston Herald Traveler.

6, 653 Crocker National Bank KEYT, Inc.

(1) KTRB Broadcasting, Inc...

2, 720 Hubbard Broadcasting

129, 000 Golden West Broadcasting

301, 434 Mid-Continent TV..

4,540 Fidelity Bank--PHILADELPHIA CBS..

467, 037 Wells Fargo Bank Fishers Blend Stations.

(1) Taft Broadcasting

41, 860 Copley Press.

26, 136 Vindicator Printing Co..

78 1 Trusts. ; And trusts. * Estate. • Co-trustee.

412, 500
59, 400
(1)
602, 624
18, 984

9, 384
163, 800
171, 800
134, 035
64, 832

193, 348 193, 850 191, 525 260, 900 83, 000 30, 000 20, 492

CRS ANALYSIS OF FCC DATA ON BANK HOLDINGS IN BROADCAST COMPANIES

LIBRARY OF CONGRESS,
CONGRESSIONAL RESEARCH SERVICE,

Individual broadcast stations are arranged according to
Washington, D.C., January 9, 1973.

the alphabetical order of the cities in which they are To: Hon. LEE METCALF (attention: Mr. Vic Reinemer).

located. The individual stations and their location were From: Economics Division.

obtained from the Broadcasting Yearbook 1972 and Subject: Banks holding stock in broadcast stations. Standard and Poor's Corporation Descriptions. The banks'

Attached are the tabulations on the ownership of leading stockholdings were taken from FCC records as of July 5, firms in the broadcast industry, based on statistics sub- 1972, indicating the 25 largest banks (by trust holdings). mitted to you by the Federal Communications Commis- The banks were required to report holdings of 1 percent or sion. We have added information on total shares out

more, and many reported holdings of less than 1 percent standing, computed percentages, and given subsidiary and

as well. The order of the banks was taken from the FCC's parent company information, as well as the names of

list of the 25 largest banks. The companies are divided into broadcast stations operated by these companies. Each

groups according to the number of banks holding stock. sheet lists the name of a company that owns broadcast stations-TV, AM or FM radio. The subsidiary, if any, is

The groups are broken down by companies with: one or in parentheses. Also included is the total number of the

two banks as stockholders; three or four banks; five or six company's stock shares outstanding. These are common

banks; seven or eight banks; and ten or eleven banks. stock unless otherwise indicated and exclude treasury

KATHRYN KAYSER shares.

Research Assistant.

Broadcast Companies Having Banks as Principal Fairchild Industries, Inc. (Fairchild KLIF, Inc. and Stockholders

Fairchild WPBC, Inc.)

Fuqua Industries, Inc. (Fuqua Communications, Inc. and 10 or 11 Banks as Stockholders

Martin Theaters of Ga.)

Gable Industries, Inc. (Fuqua Television, Inc.) Capital Cities Broadcasting Corporation

Gannett Company, Inc. (WHEC, Inc.) Columbia Broadcasting System, Inc. (Radio and television Globetrotter Communications, Inc. network)

ISC Industries, Inc. (Intermedia, Inc.) The Travelers Corporation (Broadcast-Plaza, Inc.) Kaiser Industries Corporation (Kaiser Broadcasting Corp.) Westinghouse Electric Corporation (Westinghouse Broad- Lee Enterprises, Inc. casting Co.)

Media General, Inc. (WFLA, Inc.)

Media Horizons, Inc. 7 or 8 Banks as Stockholders

Meredith Corporation (Broadcasting Div.)

Outlet Company American Broadcasting Companies, Inc. (Radio and Pacific and Southern Broadcasting Co., Inc. (Pacific and television network)

Southern Co., Inc.) Dun and Bradstreet, Inc. (Corinthian Broadcasting Publishers Company, Inc. (Publishers Broadcasting Corp.) Corp.)

Pueblo International, Inc. (Pueblo Broadcasting Co., Inc.) Taft Broadcasting Company

Rahall Communications Corporation Time, Inc. (Time-Life Broadcast Inc.)

Refac Technology Development Corp. (WK, Inc.Times Mirror Company (Times Herald Printing Co.) Jiquidated in 1970) Zenith Radio Corporation

Rust Craft Greeting Cards, Inc. (Rust Craft Broadcasting

Co.) 5 or 6 Banks as Stockholders

Sonderling Broadcasting Corporation

Small Business Investment Corporation of New York General Tire and Rubber Company (RKO General)

Starr Broadcasting Group, Inc.
New York Times Company (Interstate Broadcasting Stauffer Publications
Co., Inc.)

Storer Broadcasting Company
NLT Corporation (WSM, Inc.)

Washington Post Company (Post-Newsweek stations) Pacific Southwest Airlines (PSA Broadcasting, Inc.) Rollins, Inc.

Broadcast Companies for which Stock Data were not Schering-Plough Corporation (Plough Broadcasting Co.,

Available Inc.)

GCC Communications of Philadelphia 3 or 4 Banks as Stockholders

Evening News- Detroit

Providence Journal Avco Corporation (Avco Broadcasting Corp.)

Founders Corporation Boston Herald Traveler (WHDH, Inc.)

Williams County Broadcasting Columbia Pictures Industries, Inc. (Screen Gems, Inc.)

Devon Corporation Combined Communications Corporation

BNA Corporation General Electric Company (GE Broadcasting Co.)

Pulitzer Company Kansas City Southern Industries, Inc. (Mid-America Vermont Broadcasting Television Co.)

Central Broadcasting Company Knight Newspapers, Inc. (Summit Radio Corp.)

Copley Press LIN Broadcasting Corporation

Harriscope Metromedia, Inc.

Field Communications Multimedia, Inc. (Multimedia Broadcasting Co.)

Chicago Tribune Ridder Publications, Inc.

Galesburg Printing RCA Corporation (NBC-National Broadcasting Co.)

H & E Balaban Corporation Signal Companies (Golden West Broadcasters)

Guy Gannett Corporation Transamerica Corporation (United Artists Corp.)

Wirtz Corporation

Sierra Pacific Radio
Twentieth Century-Fox Film Corporation
Wometco Enterprises, Inc. (Wometco Skyway Broad-

Cedar Rapids TV Company

George Cameron Company casting Co.)

Lamar Life Insurance

ABE Broadcasting 1 or 2 Banks as Stockholders

Times News Publishing Adams-Russell Co., Inc. (Aurovideo, Inc.)

Superior Tube Co. Bankers Securities Corporation

A. S. Abell Company
Chris-Craft Industries, Inc. (Television Div.)

WABY, Inc.
Citizens Financial Corp. (Communications Properties, Vindicator Printing Company

Earl C. Anthony, Inc.
Inc.)

KEYT, Inc. Cowles Communications, Inc.

KTRB Broadcasting, Inc. Cox Broadcasting Corp.

Hubbard Broadcasting Downe Communications, Inc.

Mid-Continent TV (affiliate of Ridder Publications) Du Art Film Labs

Fishers Blend Stations

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BANKS HOLDING STOCK

(10): Morgan Guaranty--- 3, 381, 646 Chase Manhattan.. 2, 276, 795 Bankers Trust... 1, 791, 797 First National City... 1, 495, 797 Mellon Bank and Trust.

1, 349, 874 Manufacturers

Hanover Trust..... 423, 734 Continental Illinois National...

BANKS HOLDING STOCK (11):

Morgan Guaranty Trust.
Chase Manhattan.
Bankers Trust.
United States Trust.
First National City-
Mellon Bank and Trust.
First National Bank of Chicago.
Continental Illinois National...
Bank of New York...
Old Colony Trust- Boston..
Fidelity Bank--Philadelphia..

1.7

494, 115 3, 897, 908 1, 587, 824

315, 324 576, 151 264, 589

700, 507 1, 140, 735

914, 013 171, 800 467, 037

1.8 14.1 5. 7 1.1 2.1 1.0 2. 5 4. 1

.5

3. 3

.6

493, 967 Chemical Bank..

622, 795 Bank of New York. 495, 555 Girard Trust..

109, 991

6 7 6 1

1. 7

Total...

10, 530, 003

38. 1

Total...

12, 441, 951

14. 3

6, 856

2. 3 LOCATION:

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LOCATION:

Fort Wayne, Ind.
Houston..
Indianapolis
Sacramento, Calif.
Tulsa, Okla..

WANE KHOU WISH KXTV KOTV

Number of shares

held

Percent of total shares

BANKS HOLDING Stock (8):

Morgan Guaranty Trust.
Bankers Trust.
United States Trust.
Manufacturers Hanover Trust.
Continental Illinois National..
Northern Trust-Chicago..
Harris Trust & Savings.
Mercantile Safe Deposit & Trust-

901, 207

757, 881 1, 168, 044

75, 746 403, 365 799, 530 193, 850

7. 0 5. 9 9. 1

6 3. 1 6. 2 1. 5

352, 339

Bakersfield, Calif.
Denver, Colo..
Grand Rapids, Mich.
Indianapolis
San Diego, Calif.

KERO
KLZ
WOOD
WFBM
KOGO

KOGO

Number of shares

held

Percent of total shares

Baltimore.

Banks HOLDING STOCK (7):

Morgan Guaranty Trust.
Chase Manhattan.
First National City-
Mellon Bank & Trust..
Manufacturers Hanover Trust..
Harris Trust & Savings.
Bank of New York.

537, 632
398, 073
167, 932
208,000
229, 395
83, 000
79, 200

7.4 5. 5 2. 3 2. 9 3. 2 1. 1 1.1

2. 7

Total...

1, 703, 232

23. 5

Total..

4,651, 962

36. 2

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