Murdoch Taking on FCC Media Rule
As he nears completion of a deal to acquire Newsday from the Tribune Company, Rupert Murdoch appears likely to pose the first significant challenge to the media ownership rule that the Federal Communications Commission recently adopted. Even without Newsday, Mr. Murdoch was in the process of seeking waivers to continue to control two newspapers (The Wall Street Journal and The New York Post) and two television stations (WNYW and WWOR) in the New York area. With those waiver requests pending at the FCC, the Newsday deal means that Mr. Murdoch must now apply for a waiver to own the two television stations and three newspapers in the same market. The Newsday deal also becomes public as Congress takes up a measure that would restore the old ownership rule, which generally restricted a company from owning both a newspaper and a television station in the same city, unless the FCC granted a waiver. On Thursday, the Senate Commerce Committee is expected to approve the bill, which is sponsored by Senator Byron L. Dorgan (D-ND). Industry lobbyists say that the measure has a good chance of passing the House and the Senate this year, although President Bush has threatened to veto it.
http://www.nytimes.com/2008/04/23/business/media/23ownership.html?ref=to...
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Murdoch Moving to Buy Newsday for $580 Million
http://www.nytimes.com/2008/04/23/business/media/23paper.html?ref=todays...
Murdoch Taking on FCC Media Rule Murdoch Moving to Buy Newsday for $580 Million