The further privatization of media outlets is an important story, esp. in the context of the current FCC media ownership proceeding. We wonder what those new lobbyists will be working on! Look at excerpts from two stories with almost back-to-back datelines.
1. Hearst Launches Offer For TV Stations. 8/24/07
Multichannel News) _ Hearst Corp launched a $600 million cash tender off for the remaining 27% of Hearst-Argyle Television it doesn’t already own, an effort to take the television station group private.
Hearst already owns 52% of the outstanding stock of Hearst-Argyle, and with its 100% ownership of its super-voting Class B shares, controls about 73% of Hearst-Argyle’s equity and general voting power.
2. Aug. 20, 2007
Hearst-Argyle Hires Lobbyists
WASHINGTON — Hearst-Argyle Television Inc., operator of 29 television stations, hired Brooks, Pierce, McClendon, Humphrey & Leonard to lobby the federal government, according to a disclosure form.
The firm will lobby on legislation that affects broadcast television stations, according to a form posted online Aug. 8 by the Senate’s public records office.
