Dingell, Markey to Study Private Equity Role

DINGELL, MARKEY TO STUDY PRIVATE EQUITY ROLE
[SOURCE: tvnewsday]
Rep. John D. Dingell (D-MI), chairman of the Committee on Energy and Commerce, and Rep. Edward Markey (D-MA), chairman of the Subcommittee on Telecommunications and the Internet, sent a letter to FCC Chairman Kevin Martin requesting information on the growing trend of private equity ownership of communications-related entities. Asking for a reply by July 20, the chairmen asked Martin eight questions and said they are trying to ascertain “whether there are policy implications for this trend and whether the Federal Communications Commission's current attribution rules for ownership and control of Commission licenses is adequate.” The letter continued: “History also suggests that private equity ownership is marked by a management structure that is not overly transparent and by fluid asset management where actual holdings and control may vary significantly, as properties are bought and sold. These historical styles may not be consistent with many of the core public interest and localism values that Congress has assigned to local media outlets and may implicitly undermine the Commission's media ownership rules.”
http://www.tvnewsday.com/articles/2007/07/13/daily.4/

* Text of letter:
http://markey.house.gov/docs/telecomm/Letter%20to%20FCC%20re%20private%2...

* Commerce Concerned About Private Equity Media Deals
http://www.broadcastingcable.com/article/CA6460078.html?rssid=193

* Hillary Clinton slams private equity tax rate
http://www.reuters.com/article/politicsNews/idUSN1339356720070714