Since 1993, the government has consistently opened the market of the radio broadcasting. After eight sessions of examination, there are in total 118 radio stations approved and joined the broadcasting market. With more broadcasters entering the market, the competition from license application to operation is becoming more and more vigorous. The government's policy to open the marketplace has affected the entire radio broadcasting industry and its environment. Every station seeks to fine-tune its target market and business strategies in order to compete for the limited market share of the radio broadcasting. The study mainly focuses on the structural analysis of the radio broadcasting industry. By comparing and contrasting the government policy itself with some related studies, four assumptions were proposed: With the opening of airwaves, the amount of stations increases and the extent of market concentration decreases. 2 With the opening of airwaves, the variety of the stations increases and the diversity of choice multiplies. 3 With the opening of airwaves, the productivity of the broadcasting industry increases. 4 The more variety of types of radio stations, the more the number of the audience. The result shows that the first three assumptions are not valid. The fourth assumption, more station variety leads to more audience, is valid. The study also found that the degree of market concentration is too high, and the phenomenon of trans-broadcasting is more and more serious. This has breached the initial purpose of the government to open the market. The study suggests that the broadcasters should explore more actively for those market sectors with great potential but under-served.Meanwhile, the government should resort to more effective administrational strategies in aspects such as license approval, renewal, and policy planning. By efforts from both private and public sectors, an all-win situation can be created for the government, the radio broadcasters, and the audience.