How to Have a TV Station Business

If you consider buying an existing television station or starting a new one, take into consideration the additional expenses and steps needed before choosing to start a new television station, along with the competitiveness of this business. Consult and seek advice from other small, local television stations about best practices and things to expect. For example, currently the Federal Communications Commission (FCC) is not accepting applications for new television stations until the transfer from air to digital signals is completed. You should prepare an effective application because the application for television spots is competitive and you are not guaranteed approval.

1. Determine if you want to buy an existing television station business or if you want to start your own. Buying an established station may help companies get a running start by already having an established name for the station in the community and a staff. Starting a new television station will help the company build from the ground up, being more intimately involved in the details.
2. Write a business plan. Although you may be tempted, wait to purchase equipment until after you have obtained a construction permit. You should acquire legal and engineering counsel when writing your business plan, and later when you submit an application for a construction permit.
3. Arrange your finances. Consider finding shareholders who can contribute financially to your TV station business. Shareholders get a percentage of the profit your company makes. Also talk with your company bank about applying for loans. The amount you need should be based on a running list of operation, equipment, staff and other relevant startup costs.
4. Obtain a construction permit by completing and submitting an electronic application. If you are buying a television station for sale, after you sign the contract, complete FCC form 314, which is an application giving consent to assign a construction permit to another entity. Legal counsel can help you file additional reports and letters as needed.
5. Give public notice. You should post an announcement in your local community newspaper where the station is located. The community should be allowed to provide feedback and comments on the application with the FCC. Copies of the application must be kept in the station's files at a location accessible to the public in the community where the station is located. Copies could also be kept in a public library or post office.