Today’s scoop by Stephen Labaton in the New York Times that the FCC will impose a fine on Univision for its failure to adhere to the Children’s Television Act rules has another important dimension. Last year, Univision–the leading Spanish language broadcaster–was sold off to the highest bidder. Hispanics/Latinos are seen not as citizens/community members–but as an incredibly lucrative brand-buying market. Instead of regulators ensuring that these channels and the network would serve the larger public interest–including more diverse and independent programming–a sale was blessed to a group of deep-pocketed investors. A combination of well-connected companies paid $13.7 billion for Univision. Among the buyers included former FCC Chairman Michael K. Powell’s Providence Equity Partners and Hillary Clinton donor Haim Saban (that’s the same Saban who made all his moolah selling his violent “Mighty Morphine Power Rangers” and “Teenage Mutant Ninja Turtles” (in deals with Rupert Murdoch and Disney). On Thursday, Mr. Saban held a fund-raiser for Sen. Hillary Clinton. As we’ve noted before, Michael Powell is a senior advisor to Providence Equity Partners.
A press report notes that Univision’s settlement on the kidvid complaint is “part of a settlement that will allow the company to proceed with a buyout deal…” In other words, paying out $24 million is chickenfeed for allowing a big deal to go through. But this episode illustrates how big media companies don’t really care about the public interest; that the revolving door between the FCC and private industry contributes to a “let’s make a deal, anything can go” media industry culture; and that the well-connected treat media outlets as just cash cows. It’s time for a serious challenge to the FCC and media industry policy status quo. It’s also time for advocates to press Congress to investigate the role of private equity in media mergers and buy-outs. Such an investigation is timely, as Michael K. Powell’s firm has just announced it has amassed the largest private media fund ever–$12 billion.
Source: “Record Fine Expected for Univision.” Stephen Labaton. New York Times. Feb. 24, 2007.
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