A. The media was a not-for-profit organization until the advent of television.
B. Companies split and sold off those newly created companies for a profit.
C. Broadcasters sold airtime to sponsors who then used it to run advertisements for their goods and services.
D. Broadcasts were not, in fact, free. Rather, listeners paid a subscriber's fee to hear the broadcasts.
E. Broadcast companies received a cut of the profits from the sales of radio equipment.
