The FCC auctioned off or gave away a lot of prime spectrum to radio and TV providers back when it wasn't nearly as precious as it is today, and they adopted old, inefficient formats that need an enormous range of frequencies to transmit very little data. Do you know anyone who has used broadcast television over the past ten years? I don't, and I don't think I know very many people who have either. Yet we still use a whole lot of really good VHF space for wasteful analog communication. Meanwhile, the channels used for some of the most important things, like Wi-Fi, need to use some of the crappiest spectrum around, because everything else has been allocated already.
Things are improving, albeit slowly. The switch from analog to digital broadcast TV is opening up a whole lot of space, much of which is being used for WIMAX. But radio uses up even more space than TV did, and there are no plans on the horizon to change it at all.