A study profiled college radio stations and explored the feasibility of a college radio network. A mail survey was sent in April 1995 to 1,469 college radio stations (including broadcast stations, carrier current stations, closed-circuit campus stations, radiating cable FM, and cable television access stations). A total of 228 surveys were returned for a response rate of 16%. Results indicated that 66% of the stations had done some type of audience research, with 34.7% of those using the Arbitron ratings or some other industry standard; 64% had done a station survey themselves and 26.7% had had a non-station survey conducted for them. Regarding respondents' interest in carrying out an audience survey, 21% said it was a top priority and 47% are considering it. Among other results: 68% of respondents were restricted by their licenses from running commercials, which compared with nearly 13% who had no restrictions whatsoever on running commercials; only about 4% reported that they were restricted by institutional policy from running any underwriting, and 61% reported no restrictions on underwriting. Results also indicated that over 21% of respondents were extremely interested and 49% had some interest in professional quality made available to them through a satellite network. Findings suggest that over 70% of the respondents were FCC licensed, operating in the 100 to 3,000 watt range, and over half of the broadcast stations operated at least 12 hours per day, 365 days a year. (CR)