musicNEWS:
Bad News For Clear Channel
09-20-03
Keavin
.
If Sen. John McCain, R-Ariz has his way, it
could spell trouble to radio giant Clear Channel Communications.
The Federal Communications Commission recently approved new rules that
will impose tighter restrictions on radio ownership. The new restrictions
grew out of concern that some big media companies had taken advantage of
loosened controls in the Telecommunications Act of 1996, which deregulated
the radio industry.
McCain wants to expand the new FCC rules
to work retroactively and apply to stations already owned by Clear Channel.
McCain and others feel that Clear Channel
has grown too large since the Telecommunications Act of 1996, and that
the companies ownership of several stations in the same markets ultimately
hurt consumers.
In 1995 Clear Channel owned just 43 radio
stations. The company now owns more that 1,200 stations in the United States.
Clear Channel is crying foul, they fear
that the McCain proposed restrictions would penalize the company for playing
by the rules, since they acquired the new stations lawfully under the 1996
Telcom Act.
The Senate is currently battling over the
new proposed FCC regulations, saying that they will actually allow large
corporations (mainly television owners) to amass large holdings in the
same markets.
McCain will apparently seek a legislation
remedy to his concerns, but the details about how he plans to go forward
are not known at this time.
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