Radio: The State of Radio

"Everybody's got troubles at some time," says a CBS radio executive. "The silk business had nylon and we have TV. We just need adjusting."

Like many another radio network man, the CBS official is praying, whistling in the dark and hoping for a miracle. Only seven years ago radio, in the form of a little table model or an impressive console, held a prominent place in the American home. It sat in the living room and often attracted the whole family in the evening. Then, only six years ago, TV arrived. Overnight, radio lost its...