Saturday, September 28, 2013
What Could Happen To Media Companies If The Federal Government Shuts Down?
Anyone who does business with the FCC had better watch out. Most of the agency’s operations will be put on hold Tuesday unless lawmakers can agree on a spending bill for the fiscal year that begins October 1. A deal looks unlikely after the Senate passed a continuing resolution today that stripped out provisions in the House version that seek to defund the Affordable Care Act (a/k/a Obamacare). House Speaker John Boehner says he won’t accept the Senate’s bill. An impasse would force the government to shut non-essential services, and that would hit the media industry hardest at the FCC. The agency said today that 98% of its 1,754 employees would be furloughed. Depending on how long things drag out, the agency might have to postpone the October 15-29 window for those who want to apply for low power FM radio licenses. Work would also stop to approve TV station deals including Gannett’s $1.5B acquisition of Belo and Tribune’s $2.7B purchase of Local TV.
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