Broadcast merger will benefit consumers and add diversity – InsideSources
The recent deluge of antitrust bills in Congress and rulemaking at the Federal Trade Commission have kept policymakers busy as they scrutinize mergers — past and present — for anti-consumer findings. But what these regulators and bills often overlook are the consumer benefits that come with new investments that can improve services and reinvigorate industries in need of change and modernization.
The vibrancy of our economy depends on businesses and investors seeking investment opportunities that foster innovation and growth through technology, the latest ideas and new approaches. This pattern has only accelerated in the age of the Internet, where ubiquitous broadband and next-generation wireless technology are transforming everything from the way we watch movies to the way we drive.
Mergers and acquisitions often accelerate change and forward momentum in industries. Of Airlines companies at agriculture attechnologymergers can lower prices, increase consumer options, and provide industries with the much-needed injection of capital to strengthen and expand their operations.
The information released is a prime example of an industry that plays a vital role in American society but is in dire need of transformation in the face of online competitors. A recent Axios report noted Americans’ waning appetite for watching the news. Coupled with the drop in local newspapersStudies show increase in local corruption and problems with Public finances.
Earlier this year, the investment company General Standard Announced his plan to buy the media company Tegna to develop local journalism and bring new vibrancy to communities across the country. The merger, if approved, would create the largest minority-owned, female-led broadcast network in the country.
This transaction is poised to boost local journalism and local newsrooms across the country, delivering tangible benefits to consumers nationwide. Data To display media mergers can bring “more effective television combinations that will increase the hours of local news available to consumers and provide more of the positive social benefits associated with local television news”.
Previous Standard General acquisitions have been consistent with these findings. In its merger with New Young Broadcasting Holding, Standard General helped the company eliminate more than $800 million in debt and revamped its stations with the latest cutting-edge technology, benefiting consumers with in-depth coverage. For example, the work of the stations during hurricane season in Tampa and elsewhere, the use of this technology highlights these benefits.
The Federal Communications Commission has the opportunity to approve this transaction and advance one of its stated objectives – extend “minority and female ownership of the audiovisual media”. In this case, the new Standard General-Tegna combination will increase diversity for the benefit of US consumers.
The world of media is constantly changing, but consumers and communities across the county always need locally delivered news. The new Standard General-Tegna combination would reinvigorate broadcasting, add programming diversity and strengthen a much-needed resource for consumers in their local communities.