April 1, 2000
AP News says:
WASHINGTON In a rare moment of agreement Republicans
and Democrats joined together in approving the FCC Asset
Disposal Act (FADA).
The bill, approved yesterday goes into force immediately.
Under FADA, the FCC will be split into four private for
profit companies and one non profit consortium.
Total sale price was estimated to be 750 billion dollars.
The post FADA FCC will look like this:
Broadcast Audio Division (BAD) jointly owned by Clear Channel
Communications of San Antonio, TX and CBS/Infinity, New York.
Cable And Video Enterprises (CAVE) to be purchased by
AOL/Time Warner.
Broadband, Information, linking and licensing (BILL) to be
purchased by MCI Worldcom communications.
Two-way Radio And Data Enterprises (TRADE) to go to Motorola
Inc. of Schaumberg, Ill.
A fourth division, Communications, Operations for Public
Safety (COPS) will be jointly run as a non profit
consortium by the above parties.
Republican lawmakers were quick to approve this move as
retaliation for the Commission's attempt to jepordize some of
their major corporate donors. Democrats were eager to push
the measure as an expansion of the federal revenue generation
by the sale of radio frequency bands. Said one lawmaker,
since we've sold all the spectrum, why should the
government be involved anymore?
A vocal minority of both parties expressed concern that
broadcast properties would now be regulated by potentially a
competitor in many areas. To protect those stations a small
congressional committee; Stations of Other Licensees
(SOL) will oversee the operations of BAD for three years.
That should be enough time to permit those stations to
sell out.
(AP) 04/01/00
(ROTFLMAO)
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