The Federal Communications Commission approves Viacom’s $35.6 billion acquisition of CBS Corporation despite the merger violating FCC regulations prohibiting one company from owning television stations reaching more than 35% of the U.S. audience and prohibiting ownership of two networks if one …
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America Online (AOL), the nation’s dominant Internet service provider, announces its intention to purchase Time Warner for $164 billion in the largest media merger in history. The combined entity would control magazines, video and high-speed Internet cable, cable TV channels (including CNN, …
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The Telecommunications Act of 1996’s media consolidation provisions trigger massive job losses across American journalism, gutting local news coverage and professional media employment. In radio alone, cities that once had 100 jobs for radio professionals now have perhaps 20, an 80% reduction …
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Clear Channel Communications begins an unprecedented consolidation spree following the February 1996 Telecommunications Act, acquiring $581 million worth of radio and television stations within just four months of the act’s passage. Before the Telecommunications Act eliminated ownership caps, …
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