Radio and Television Broadcasting

Businesses and organizations in the Radio and Television Broadcasting industry (NAICS code 5151, part of the Information sector) received 6,503 PPP loans totaling $826.2M during the COVID-19 pandemic.

The average loan for this industry was $127,043 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

96.6% of loans in this industry were forgiven — totaling $819.8M. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include ALPHA MEDIA LLC of PORTLAND, OR ($10,000,000); BEASLEY MEZZANINE HOLDINGS LLC of NAPLES, FL ($10,000,000); and CUMULUS BROADCASTING LLC of ATLANTA, GA ($9,822,232).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Information sector — publishing, motion picture, broadcasting, telecommunications, and data processing. — businesses in NAICS 5151 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.