More industry consolidation is in offing because courts and FCC h...
More industry consolidation is in offing because courts and FCC have reduced regulatory constraints on mergers and acquisitions, leaving antitrust law as only significant govt. hurdle, Legg Mason said in report issued Mon. Other conclusions in firm’s report, which…
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looks at telecom and media ownership: (1) Antitrust law is unlikely to block many media deals although it could complicate wireless, Bell/long distance and Bell/Bell consolidations. (2) “Market difficulties currently constrain industry deal-making” but that will change. “Local media acquisitions in anticipation of rule changes have already started and, eventually, the national deals will likely follow.” (3) Relaxation of ownership restrictions eventually will lead to “pressure for behavioral regulation of companies.” Media concerns already are surfacing and telco concerns are reflected at state level, report said: “Consolidation does not lead to deregulation; rather, it leads to different forms of regulation.” -- 202-778-1595.