22. Very little of what was broadcast in the early days of radio was actually done by broadcasters; stores,
schools, businesses and other organizations owned the early stations.
23. Advertising on radio began when WEAF in New York began selling time to anybody who wanted to
broadcast a message.
24. The Radio Act of 1927 set up the Federal Radio Commission, which issued radio licenses and created
policies to minimize interference.
25. During the Depression in the 1930s, radio provided both fantasy and reality, as reflected in the combination
of escapist entertainment programs and increased network news and special events coverage.
26. Even though the amount of money spent on radio ads nearly doubled during World War II, radio continued
to be significantly outpaced by newspapers in terms of generating national advertising dollars.
27. The emergence of AM was the most important development in the radio industry during the 1970s and
1980s.