10.18.2002 12:00 PM
McCain bill seeks more diversity for media ownership

Senator John McCain (R-AZ) has introduced proposed federal legislation that would use tax incentives to encourage more diverse ownership of telecommunications outlets, including television and radio broadcast stations.

This legislation would give sellers of telecommunications businesses—including broadcast stations—a tax deferral when small companies buy their assets for cash. It would also encourage the entry of new players and the growth of existing small businesses by enabling the seller of a telecom business to claim a tax deferral on capital gains if it invests the proceeds of that sale in purchasing an interest in an eligible small telecom or media business.

McCain, ranking Republican of the Committee on Commerce, Science, and Transportation, introduced the Telecommunications Ownership Diversification Act of 2002, S. 3112, last week. The legislation broadly defines telecommunications businesses eligible for capital gains tax deferral to include not only radio, broadcast TV, DBS and cable TV, but also wireline and wireless telephone service providers and resellers.

For more info, visit: http://mccain.senate.gov/index.htm.

Back to the top




Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB


 
Featured Articles
Discover TV Technology