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M&A in the media industry is about to pick up. Recently, the U.S. Supreme Court upheld the U.S. Federal Communications Commission’s (FCC) 2017 rollback of media ownership limits. Media companies that once avoided specific acquisitions due to regulatory ownership limits may now take a second look. But passing through FCC review is only part of the equation, with the U.S. Department of Justice Antitrust Division (DOJ) and many State Attorneys General frequently taking a hard look at deals in this sector. The Supreme Court’s decision affirming the FCC’s relaxation of its ownership limits means that antitrust scrutiny may now play a larger role in the clearance of media mergers as media companies look to make acquisitions past the FCC’s prior limits.
The U.S. Supreme Court’s decision in FCC v. Prometheus Radio Project et al. is significant for both the decision’s effect on the regulation of the broadcast television industry and its.
Supreme Court Broadcast Ownership Decision a Simple Matter | Pillsbury - CommLawCenter jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
U S Supreme Court Upholds FCC s 2017 Decision to Repeal and Modify Its Broadcast Ownership Rules | BakerHostetler jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Adam KlasfeldApr 1st, 2021, 11:08 am
Former FCC Chairman Ajit Pai
Over the howls of protest of nearly half of U.S. states, the Supreme Court unanimously sided with the Federal Communications Commission on Thursday in a ruling finding old regulations limiting cross-ownership of media outlets obsolete. The advocacy group Prometheus Radio Project feared that the shelving the former restrictions, an action undertaken by the FCC’s Trump-appointed ex-chairman
Ajit Pai, would weaken ownership and viewpoint diversity in the press.
Prometheus had early success in the Third Circuit Court of Appeals, which vacated the FCC’s order. But the Supreme Court had the final word, with all nine justices finding that the Commission’s decision to strike the old regulations was not arbitrary and capricious.