Theories of economics is applicable in Broadcasing industries also like all other fields.Broadcasting economics is an emerging area of study.

Dear Babafemi Amoo

see that :

http://www.grady.uga.edu/coxcenter/activities/Act_2005_to_2006/Materials05-06/Egypt/IAMCR2006_Pol_Com_Final_version_v2.pdf

You need to examine what was once known as "industrial organization" which arose from the theory of the firm. Specifically, the analysis of "natural monopolies" is important. The radio spectrum if not regulated would award monopolies in specific markets. Analyses go beyond radio waves to other utilities. The underlying proposition was to provide service at reasonable rates to consumers as well as provide profits to firms. The US experience differs from other countries where many utilities are owned by governments. The Federal Communications Commission has a significant history of economic studies.

Currently in the United States there is concern over the monopolization of all media in which broadcasting corporations are allowed to have several stations in a single market as well as owning newspapers and other communication media. Underlying all of this in the US is to ensure consumers access to information. With all of the new media, internet, for example, the issue is more complex.

Broadcasting firms investment, pricing, and similar elements of economics. I suggest that you start with a basic economics textbook and then search the vast literature on the economics the industry. There are probably 100s of thousands of studies. You need to define which area is of interest.