The History of Capitol Broadcasting Company

The roots of Capitol Broadcasting Company date back to 1937. That year Raleigh attorney A.J. Fletcher and four partners decided to form a company so they could compete in a new industry taking hold of a nation still struggling through the Great Depression. The business was broadcasting, and at the urging of his son Frank—a young communications lawyer at the Federal Communications Commission—A.J. Fletcher and his partners formed CBC with the sole purpose of obtaining a license to operate a radio station in North Carolina’s capital city.

The plan worked and on July 28, 1938 the Federal Communications Commission authorized Capitol Broadcasting Company to operate a new 250-watt AM radio station with the call letters W-R-A-L. That FCC action officially established a direct link between the Fletcher family and North Carolina broadcasting that exists today.

A.J. Fletcher was one of five original shareholders in Capitol Broadcasting Company, Inc., but he was not the first president. That distinction went to another local attorney, Earl C. Marshburn, who owned the most shares of the company at the outset. The other original CBC stakeholders were Howard E. Satterfield, Professor of Engineering at North Carolina State University; Attorney Charles E. Green; and E. Johnson Neal, an insurance executive.

As construction of WRAL-AM neared completion in early 1939, Capitol Broadcasting Company was reorganized. A.J. Fletcher purchased the shares owned by Marshburn and Satterfield, bringing his holdings to 105 of the company’s 150 original shares. With financial control firmly in place, A.J. Fletcher became President of Capitol Broadcasting Company, a title he would eventually pass on to his son Fred Fletcher and grandson Jim Goodmon.

Over the next seven decades CBC would establish itself as one of the most respected and innovative communications companies in the nation. The company that started with one tiny AM radio station has diversified to now include holdings in broadcasting, new media, real estate and professional sports.

This corporate expansion began in 1946 when the FCC awarded CBC the license for WRAL-FM, one of the first commercial FM radio stations in the country. The addition of a second radio station acted as a catalyst and set off a wave of innovative growth.

With WRAL-AM and FM as the foundation, CBC formed two pioneering radio networks that broadcast specialty programming across the state and region. The Tobacco Radio Network and the Dixie Network gained acclaim as providers of ACC sports, in-depth agricultural news and live event coverage.

In the early 1950s A.J. Fletcher’s attention turned to television. Mr. Fletcher realized that CBC needed to expand into this promising sector of the broadcast industry, so he set out to bring a TV station into the CBC fold. It would not be easy, but after a monumental struggle and months of arduous hearings at the Federal Communications Commission, CBC won the license to operate WRAL-TV Channel 5 in Raleigh.

WRAL-TV signed on the air December 15, 1956 and went on to become one of the premier local television stations in the nation. The CBC flagship is widely known for its award-winning news operation, technological leadership and far-reaching community service and support.

CBC’s growth and innovation has remained constant throughout its history. The company has founded, acquired and sold numerous business entities since its inception. These assets range from radio and television stations to new media startups, historic properties and professional baseball teams. A comprehensive record of many of these transactions can be found in the interactive timeline near the bottom of the CBC History website homepage.

Over the years CBC has taken on the flavor and persona of its generational family leader – from A.J. Fletcher’s astute business savvy to Fred Fletcher‘s flair for local entertainment to Jim Goodmon‘s fascination with engineering and technology. But no matter who was at the helm, three core values have always served as guiding lights for Capitol Broadcasting Company: an unwavering commitment to excellence, the fearless pursuit of new technology and innovation, and a genuine sense of responsibility to the community. That is how CBC defines success.

The Durham Bulls, America’s most famous Minor League Baseball team, is regarded as one of the premier franchises in the industry. Since Capitol Broadcasting Company bought the team in 1991, the organization has separated itself from its peers, thriving on local, regional and national stages. Under Capitol Broadcasting’s direction, the Bulls have been at the center of the revitalization of downtown Durham, never ceasing to contribute to The Triangle community.

Durham’s first league-affiliated team, named the Tobacconists, took the field in the spring of 1902 and played a schedule comprised of teams from neighboring mill towns. By 1913, the team was renamed the Durham Bulls, an homage to the town’s world famous tobacco brand.

Over the next 67 seasons the team would play in three different ballparks and undergo eight Major League affiliation changes until settling into a long-term partnership with the Atlanta Braves prior to the 1980 campaign. Then in 1988 the film “Bull Durham” put Minor League Baseball and the Bulls on the national stage, as the fictional comedy starring Susan Sarandon, Kevin Costner and Tim Robbins became a hit with diehard and casual baseball fans alike.

In 1991 Capitol Broadcasting Company purchased the Bulls, and the following season the team unveiled mascot Wool E. Bull, who has become one of the most recognized faces in all of North Carolina. Each season, Wool E. makes over 250 appearances at schools, hospitals, parades and more, exemplifying the Bulls’ commitment to The Triangle community and beyond.

By 1995 the franchise had moved to Durham Bulls Athletic Park, a brand new stadium located a few blocks south of the historic Durham Athletic Park which the Bulls had called home since 1926. Following the 1997 season the Bulls began an affiliation with the Tampa Bay Devil Rays, and jumped from the Advanced-A Carolina League to the Triple-A International League. With the change to the Triple-A level, the stadium expanded its capacity to 10,000 by adding six sections of seating beyond the right field wall. Today the stadium’s seating still sits at 10,000, while the Bulls’ and Rays’ 16-year affiliation is tied for the fourth-longest in Triple-A Baseball.

Over the last 25 seasons the Bulls have built a near-dynasty on the field, earning 15 postseason berths since 1991. Since joining the Triple-A ranks, the Bulls have made 13 playoff appearances in 17 seasons, while capturing four league titles.

Prior to the 2014 season the DBAP underwent yet another renovation, this time giving the stadium a complete facelift. New video boards and a new club level, among many other upgrades, gave the stadium a modern feel, while preserving the classic touches that make the ballpark one of the best in Minor League Baseball.

Capitol Broadcasting Company founded Microspace Communications in 1988 to deliver critical data, video and audio content to business clients.

The Microspace technology was developed in the mid-80s to solve a competitive problem for Seeburg Music, another CBC company. Seeburg provided background music for businesses, but was struggling against three much larger national competitors.

Seeburg set out to bypass those competitors by developing a way to deliver the music directly to each business via satellite. Seeburg and its partners developed technology that utilized a small receiving dish and cost less than $500 and–in the process–created a disruptive technology that upended the entire business music industry.

Seeburg was sold to make way for a new CBC company that would capitalize on the revolutionary satellite technology. As a result, Microspace Communications was formed in 1988 and almost immediately—all three of Seeburg’s former national competitors became Microspace customers. Soon, companies delivering stock quotes, weather data and paging messages came on board and were beaming their signals throughout the United States.

The growth didn’t stop at American borders. Microspace began to grow internationally, introducing service to Europe, the Caribbean and Latin America.

The company is a leading provider of point-to-multipoint satellite services and operates one of the largest business satellite networks in the world, with over a quarter of a million receive sites positioned around the globe.

Microspace offers dozens of unique applications and the list of services and markets served continues to grow. The company’s trademark VELOCITY service supports customers such as Morgan Stanley, Abercrombie and Fitch and The Christian Radio Consortium with services ranging from business TV, distance learning, digital signage, digital cinema and web hosting, among many others.