Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Facing a possibility that merger restrictions could be eased, Senate Commerce Committee Chairman John McCain, R-Ariz., plans to hold a hearing on media consolidation. McCain’s move comes after the Federal Communications Commission indicated it may revise rules limiting consolidations among newspapers, radio stations and broadcasters. FCC Chairman Michael Powell said the agency will conclude its review of limits on media mergers by June 2. Observers anticipate Powell could loosen rules and permit more media mergers than the existing regulations permit. Existing FCC rules ban a company from owning a newspaper and broadcast outlet in the same market and restrict mergers among the four major national television networks. Regulations also limit how many radio stations a company may own and bar a single company from owning more than two television licenses in a market provided there are at least eight independent stations. Senate Commerce Committee ranking member, Ernest Hollings, D-S.C., said he hoped McCain would invite all five FCC commissioners to testify. Hollings also said he hoped McCain would schedule the hearing as soon as possible following the Easter recess. Earlier last week, Powell said the FCC is likely to replace across-the-board restrictions on media company mergers with a system in which individual deals will be reviewed based on the level of industry concentration in a given market. “My own guess is that the case-by-case approach is the leading probability for the rule,” Powell told reporters after speaking at the annual National Association of Broadcasters convention in Las Vegas. Critics of the proposal, including the FCC’s two Democrats, say it could limit consumer choice. �Copyright 2003, The Deal, LLC. All rights reserved.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.