Court overturns FCC's ownership caps, in victory for AT&T, AOL, cable firms
Article Abstract:
The U.S. Court of Appeals for the District of Columbia has ruled that federal laws barring cable companies from serving more than a third of the U.S. satellite TV and cable markets violate the companies freedom of speech rights. The FCC had challenged these laws calling for cable concentration caps. The First Amendment decision is a boon to AT&T, AOL Time Warner and other cable giants and bad news for consumer advocates concerned about limited competition and pending higher rates. AT&T had lobbied heavily for the ruling as its acquisition of MediaOne Group gives it 42% of the U.S. pay TV market. The company also did not want to divest its 25% of Time Warner Entertainment. AOL has 13% of the U.S. cable market.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
NextWave gets $2.5 billion of loans from UBS
Article Abstract:
UBS Warburg is pouring $2.5 billion into NextWave Telecom, which is working its way out of a $5 billion bankruptcy case. NextWave is battling the Federal Communications Commission over revered wireless-spectrum licenses. The company bought dozens in 1996, promising $4.7 billion. When they could only pony up $500 million, the FCC took the licenses back and sold them to other bidders for $16 billion. An appeals court ordered the licenses returned to the bankrupt company and an appeal will go to the Supreme Court. NextWave has been in contact with telecom giants but is desperately trying to keep the licenses.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
NextWave finalizes pact to sell licenses
Article Abstract:
After a 5 year legal and political fight, NextWave Telecom has finished negotiations with the Justice Department, Office of Management and Budget, Federal Communications Commission and other cellular-phone companies on the sale of $16 billion wireless licenses. A NY bankcuptcy judge will have the final sign-off on the deal which will allow Verizon Wireless, Vodafone Group and other undisclosed companies to pay NextWave about $11 billion and the government about $5 billion for the wireless spectrum airwaves. NextWave initially bid $4.7 billion on the licenses and then went into bankruptcy 2 years later. The FCC initially wanted the dispute to go to the Supreme Court, but eventually had not choice but to allow NextWave to have the spectrum.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Microsoft Money takes the lead in software for personal finances. New Microsoft Office has nice additions, but there's a hitch
- Abstracts: Windows XP's power to add links to other Web sites stirs dissent. Novell is expected to announce layoffs of up to 25% of its staff
- Abstracts: Middle-sized business prove a happy hunting ground for a go-ahead firm. Globetrotter builds the all-powerful legal firm
- Abstracts: Evolving headquarters-subsidiary dynamics in international R&D: the case of Japanese multinationals
- Abstracts: Fund trustees make a little progress in assessing their managers. Changes favor the investment style of smaller managers