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FCC rule shake-up sparks fears of media consolidation
Major changes limit cross ownership to 35 percent, stoking worry of fewer owners controlling more outlets. Critics warn of shrinking newsrooms and homogeneous local coverage, while supporters tout nimble, profitable firms. Investors eye 61 station groups, with Journal Co. planning a $250 million IPO to grow under the new regime. Major players such as Gannett Tribune Hearst General Belo Scripps are poised to join.
MENTIONED IN THIS ARTICLE
FCC
Seattle Times
Frank Blethen
MediaNews Group
Eollage
Cable
San Francisco
Maine
the Journal Co
Milwaukee Journal Sentinel
Gannett Co
Tribune Co
Hearst Corp. Media General
Belo Corp
E.W. Scripps Co