The Government and the promoters of a then new radio broadcasting company signed an agreement in 1925 for the erection by (he company of up-to-date 500-waft output broadcasting stations at Auckland, Wellington, Christchurch and Dunedin. The company also undertook the maintenance of an efficient broadcast service, in return the company was to receive 25s out of each 30s license fee paid by the broadcast listener and a similar proportion of the radio trailers' and other license fees. The promoters soon after proceeded with the flotation of the company.

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