The following paper is intended to “give good cheer to those who suppose that broadcasting for profit is not proper, as well as to those who suppose that broadcasting for profit is quite proper.” It is a companion piece to the author's “On Earning a Non‐Profit,” which was published in the Winter, 1966–67, issue of the Journal of Broadcasting. This article is copyright (1967) by Dr. Harwood, who currently is professor and chairman in the Department of Telecommunications at the University of Southern California, but will take up duties as Dean of the School of Communications and Theater at Temple University in January, 1968. He is also president of the Oak Knoll Broadcasting Company (KRLA, Los Angeles), chairman of the board of the Broadcast Foundation of California, and a member of the Radio Board of Directors of the NAB. For a dozen years he served as an officer or director of the APBE, and often has contributed to the Journal in the past.