NYT: Ruling on Media Only Irritates Big Owners

[DeepModem Mom]

Ruling on Media Only Irritates Big Owners
By BILL CARTER

Published: June 25, 2004


Frustration was the dominant emotion among media company executives yesterday as they digested a federal appeals court ruling that largely reversed the Federal Communications Commission's efforts to loosen limits on media ownership.

Although no big media company will be forced immediately to divest itself of television or radio stations because of the ruling, they will be stymied for some time in trying to take advantage of the relaxed F.C.C. rules.

Last year, as part of a contentious package of deregulatory measures, the F.C.C. rolled back restrictions on media companies' owning both newspapers and television stations in a single market as well as on the number of local television and radio stations they can own in the same market....

***

Ellen Agress, a lawyer for the News Corporation, owner of the Fox Network and 35 local stations as well as of The New York Post, said, "Plans for expansion will be put on hold."

But the owner that could be affected most by yesterday's ruling is the Tribune Company, which, in the worst case, could face the loss of either some television stations or newspapers....


http://www.nytimes.com/2004/06/25/business/media/25owners.html

[Solon]

1. Good, it hasn't been this bad since Hearst and Pulitzer dominated.

Break them all up I say!!!