Because of Atlanta's tremendous growth characteristics, WGNX is an ideal fit with our existing group of television stations in many of the nation's fastest-growing markets. Additionally, our geographic diversity and network balance provide some insulation from the impact of differing regional economies and from changing audience share rankings among the major broadcasting networks. We're managing our Broadcasting Group in a period of profound industry change. Increased competition, rapid technological developments and changing network-affiliate relationships are forcing television broadcasters to carefully evaluate their business models. By comparison, in the late 1940s and early 1950s radio operators were forced to adapt to the onslaught of television, and today radio is a very profitable industry.
Few businesses achieve television broadcasting's high margins.
No medium can rival the reach of television, and no medium approaches the immediacy and emotional impact of television. We recognize the growing demand for effective and accountable advertising in a more competitive environment. Accordingly, our Broadcasting Group is capitalizing on changes taking place among viewers, advertisers and competitors. Developing and implementing new business initiatives related to interactive media. We have a significant opportunity to differentiate our stations by enhancing and expanding our marketing and sales expertise.