This may be more common than I thought, but I've never heard of it. Those attending the U.S. Open Tennis matches in New York City last week were being given small earphone radios for free, so they could listen to coverage of the events.
But here's the catch - the thing was not only covered with the sponsor's logo (American Express) but it only receives one station - ESPN, which has the rights to the tournament. So you literally can't listen to anything else. Talk about a captive audience!
HCJB, the Christian missionary station in Ecuador used to give away radios to the poor people in the villages there and were tuned only to that station.
After all is said and done, more is usually said than done.