Media Ownership Act Scored

MEDIA OWNERSHIP ACT SCORED
[SOURCE: Congressional Budget Office, AUTHOR: Susan Willie]
The Congressional Budget Office estimates that implementing the Media Ownership Act of 2007 (S. 2332) would cost less than $500,000, subject to the availability of appropriated funds, to provide a report on media concentration to the independent panel. S. 2332 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments. The bill would require the Federal Communications Commission to follow certain schedules for notice and public comment periods when changing any of its regulations related to the ownership of broadcast organizations. The bill would require the FCC to provide a 90-day period when notice of such change is offered and a 60-day period for public comment on the proposed regulations. The bill also would require the FCC to respond within 30 days to public comments received during the period set aside for such comments. Before voting on any changes in rules governing the ownership of broadcast and newspaper organizations, the bill would require the FCC to study the effect of such cross-ownership (broadcast and newspaper organizations owned by one entity) on the availability and quality of local programming by radio and television stations and newspapers. The bill also would establish an independent panel that would make recommendations to increase the number of broadcast organizations that are owned by women and minorities.
http://www.cbo.gov/ftpdocs/89xx/doc8931/s2332.pdf