But giving away the airways? That's not really what occurs.
I will focus on commercial radio.
The changes that permit relatively few huge broadcast companies
("wealthy developers") to own vast numbers of commercial radio stations has resulted in the airwaves being blanketed by crappy homogenous radio, that poorly serves the local interests. I think the signing of the law permitting such was Bill Clinton's greatest presidential failure. I believe there is currently a lawsuit going on in Chicago over this.
This is why the public non-commercial radio stations and networks are so important.
Moose