FCC Clears Way for ION Media Buyout

[Robbien]

Source: AP

WASHINGTON (AP) - Government regulators on Monday cleared a private equity group's buyout of television station operator Ion Media Networks, denying an investor complaint that would have stopped the transaction. The Federal Communications Commission approved the transfer of Ion's 60 television station licenses to Citadel Investment Group Monday, saying the transaction will "serve the public interest."

A group of Ion investors filed a complaint with the FCC claiming that NBC, is trying to control Ion through a partnership with Citadel that violates media ownership rules.

. . .

While a majority of the FCC's commissioners had no reservations about the transaction, Commissioner Michael Copps raised concerns about a hedge fund running a television network.

"We do not know the identity of the investors in this particular fund, and we do not know how this fund has treated other companies it has owned in recent years," Copps said in a statement.

The Citadel Web site refers to the company as a "sophisticated alternative investment institution."

Read more: http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20071231&id=7985846

[Joanne98]

1. Oh! Private equity! What a surprise! grrrrrrrrrrrrrrr

[acmavm]

2. Do you ever wonder why threads like this don't get jumped on? I do. This

shit is extremely important. I'm not saying its the TOP issue out there, but media consolidation and censorship of the news are two of the means that an elite few in this country have taken power over everything. They hide shit from the public under the bullshit excuse of "we didn't feel that it was in the best interest of the public to print stories that might influence an election." (I believe that's the NYT's favorite for why they covered up so much shit for bush** during 2000 and 2004.)

Most people do not research what they read. Can you imagine how many there are out there that don't have a place like here to go to find out the truth, or at least the other side of the story. Then there's the other side of the coin. There's those that firmly believe in whatever story being told just because they're delusional, stupid, or the status quo operates to their benefit and they help to spread biases news around.

We cannot afford media consolidation. We cannot afford more media monopolies. They could get so powerful that they can grab control of all forms of media reporting (with government's blessing, of course). I'm talking about control of the internet. Corporate control of the internet.

It's only one component of what has to be fixed in this country in order to turn it around and try to undo the harm and damage that this bunch of criminals and corporatists has done.

[ooglymoogly]

4. In my opinion it is the main issue

without a treasonous corporate media we would not have an idiot like * to destroy our country nor would we have a war to distribute the treasury to his cronies. In short Gore would be president of a very prosperous, honest and proud nation...so in fact it is the main issue on our plates. They have made the stealing of elections easy for the pugs.

[KoKo]

9. Well said....and just who is involved in this "hedge fund" could

matter given that "Sovereign Wealth Funds" are heavily invested in many of them. Talk about terrorists...or folks with agendas....

K&R!

[brentspeak]

3. More criminal media monopolization, made legal by Bush's stooges

[Raster]

5. The FCC is a corporate puppet and wouldn't know what would...

"...serve the public interest" if it bit them in the ass. Most of the FCC should be publicly horsewhipped on the Great Mall along with most members of Congress.

[KamaAina]

6. "We do not know the identity of the investors in this particular fund..."

Well then, how do we know they're U.S. citizens? You have to be a U.S. citizen to own broadcast properties here. Ask Rupert Murdoch, who actually became a naturalized citizen so he could buy TV stations here. God Bless America! :sarcasm:

[Wednesdays]

12. How do we know they're not hardened criminals?

Maybe if we find out they're associated with *'s corporate buddies, that should buy us a clue. :mad:

Big K & R!

[dmosh42]

7. More corporate corruption! n/t

[MonteLukast]

8. F*** you very much, Kevin Martin. (n/t)

[dbt]

10. This just in: The "Mainstream Media" Is A Lost Cause.

It's gone, kids. It's FUBAR. Time to find a workaround.

:evilgrin:

[tom_paine]

13. Yep. We'd have to tear it down and build it back up again.

And even then, most of the people who know how to practice actual journalism and investigative reporting are old and have long ago been forced out of the MSM, like Robert Parry, or already dead.

This whole coming darkness may be cyclical, just a big psychological pustule that is now ready to burst.

The only teacher actually still working today we could have to teach our Journalism School is Sy Hersh, and he's old, too.

[AndyTiedye]

11. Getting Harder to Find Out Who Owns the News

[live love laugh]

14. "We do not know the identity of the investors ..." W.T.F???!!!! n/t