Race Bias #18 - "A Boost for Black Media"
It is no surprise that Time Warner backs black owned entertainment firms. But in the excerpt below, N.J. Nicholas, Time Warner's President, says that "national tastes are made in the black community."
Wishful thinking? - or just code words for how the entertainment industry wants whites to adopt black culture? Blacks have greater brand loyalty, have a negative marginal propensity to save as income rises, and are more given to impulse and status motivated purchases. If you are pushing ad time for beer, automobiles and perfumes you want an audience responsive to advertising! Small wonder Time Warner wants whites to adopt black culture.
Hey folks. No ideology here! Just good old fashioned self interest! You see, if you are in the right business, white hating is good business!
BUSINESS & RACE
By Leon E. Wynter
12/12/90 WALL STREET JOURNAL (J), PAGE B1
Time Warner Funds Black Media Firms
WHAT DO producer Quincy Jones, publishers Charles Harris and Donald Anderson, broadcaster Pierre Sutton and cable-channel operator Robert Johnson have in common?
They're emerging black media powers with the same titanic silent partner: Time Warner. The alliances, most made since 1988, are strategic, says Time Warner president N.J. Nicholas Jr., because many national tastes are made in the black community.
Time Warner stands behind Quincy Jones Entertainment Co. in movies, television and records. "Fresh Prince of Bel Air" is already a TV hit. Time Warner also has a stake in Black Entertainment Television, the only black-oriented cable service.
Time Warner's minority stake in Emerge, a new magazine which aims to lead black opinion, raised some African-American eyebrows at first. But Mr. Anderson the publisher says such liaisons will sharply expand the power of black media ventures. "From a black perspective," he says, "I hope like hell that somebody tries to copy this soon."
Analysts were unaware of any imitators, but Raymond Katz of Shearson Lehman Brothers says the Time Warner style has always been to find talent in new markets, "plant the seed and leave them alone."
Mr. Nicholas says more deals will be forthcoming, perhaps another magazine. * * *
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