Norman Pattiz (with Mary)
March 5, 2001 Founder and chairman of radio giant Westwood One, Norman Pattiz knows the value of grabbing people's attention -- whether it's radio listeners or politicians. Pattiz gave more than $300,000 to Democratic committees during the last election cycle and backed Hillary Clinton's bid for the Senate. The message was heard, loud and clear. Last May, President Clinton nominated Pattiz to the Broadcasting Board of Governors, which oversees the Voice of America and other government broadcasts. The board is chaired by Marc B. Nathanson (No. 54, $484,000) of cable giant Charter Communications. In addition, Pattiz was among 400 guests invited to sleep at the White House or Camp David. Pattiz has a long history of using politics to leverage his financial interests. In 1987 he appeared before a Senate subcommittee to oppose a measure that would have eased restrictions on the number of radio stations a company could own in a single market. According to the Capitol Hill newspaper Roll Call, Pattiz supported the restrictions because they limited the growth of his competitors. But Pattiz did more than testify. He later admitted to charges that he had skirted campaign finance limits by illegally offering to reimburse Westwood One employees who contributed to Senator Joseph Biden's presidential bid. Biden's campaign was chaired by Senator Daniel Inouye, who also sat on the subcommittee holding hearings on the radio restrictions. "I don't give a shit about Biden," a company executive recalled Pattiz telling him at the time. "It's Inouye I'm interested in." Pattiz denied attempting to influence Inouye, but Westwood One paid a $75,000 fine for violating election laws. As Westwood One grew, Pattiz apparently changed his tune on ownership limits. Like most in broadcasting, he supported the Telecommunications Act of 1996, which eliminated ownership restrictions. The move put more radio stations in fewer hands, making it easier for Westwood One to dominate radio programming. The company is now the nation's largest radio network, delivering news, weather, sports, talk, and traffic reports to 7,500 stations. Its news programs include CBS News Radio, Fox News Radio, CBS Market Watch, CNN Radio, and the NBC Radio Network. "When you've got more radio stations owned by successful companies with more financial resources, they can provide more listening options," Pattiz told his felllow broadcasters at a Las Vegas convention in 1998. The following year the company bought Metro Networks, a radio programmer founded by David I. Saperstein (No. 42, $514,000). -- Brett Coker | | |
