Broadcasting in the United States is a business—and a very big one. Radio stations are privately owned and are operated for profit. Broadcasting is just as much a business as is running a theatre on Br adway or making a picture in Hollywood. The state and the government have nothing to do with it. To be sure, the Federal Communications Commission in Washington lays down certain rules of operations, and controls and allots wavelengths to the various networks and stations. But after the F.C.C. has given you a licence and a wavelength, and as long as you comply with their rules and conduct yourself accordingly, you can buy a piece of ground to-morrow, build a station and go into the radio business. And it is a good business to be in.