A bit of history if anyone is interested:
By 1922 wireless public broadcasting was well established in Europe with UK listeners able to tune into broadcasts of concerts from The Hague and music stations in northern France. Here in the UK broadcasts were limited to short programs transmitted from relatively low power experimental stations operated by private companies such as Marconi. The duration and content of the broadcasts were controlled by the Post Office who granted the licences to transmit.
In 1922 the British Broadcasting Company was established with the chief shareholders and investors being six major companies involved in wireless development and production; Marconi, Metropolitan Vickers, BTH, GEC, Western Electric and Radio Communication Co.
The company was granted a four year licence to transmit. Its income was from a share of the ten-shilling licence fee for owning a wireless and from a 10% royalty from the sale of a wireless. It spent the money on building a broadcast network and developing early broadcast technology. The ‘big six’ shareholders made virtually no money from the company but did gain financially through the sale of wireless sets and other related products.
By the end of 1926 when the 4 year licence expired the company had created a viable broadcasting service with over 2 million licence holders, broadcasting had established itself as not just a medium of communication but as a medium of entertainment and education and huge technological advances had been made.
The big change was in 1927, with the expiry of the operating licence for the British Broadcasting Company a new organisation was formed - the British Broadcasting Corporation which was formed by Royal Charter and inherited the broadcasting infrastructure from the original BBCompany. Instead of a limited company with shareholders and directors the new corporation was run by a Board of Governors with the intention that it should be independent of commercial and political pressures - although ultimate powers were reserved to Parliament!
The original charter of 1927 was a simple 10 page document with the majority being concerned with the structure and governance of the new corporation - regarding content there was very little : To collect news of and information relating to current events in any part of the world and in any manner that may be thought fit and to establish and subscribe to newsagencies.
It could be argued that the funding of the British Broadcasting Company from 1922 to 1926 by licence fee and royalties was essential for the development of a viable public broadcasting network here in the UK. However, times change - (all except the funding model which has stayed stuck in the 1920’s!).
If anyone is still awake and made it this far I finish with a quote from Edward, first Baron Thurlow:-
‘Did you ever expect a corporation to have a conscience, when it has no soul to be damned, and no body to be kicked?’