Word: fcc
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...SPAN broadcast of the Federal Communications Commission hearing on cable-TV rates. Smith, the chairman of Bell Atlantic, was in his Arlington, Virginia, office; Malone, the boss of cable giant Tele-Communications Inc., was at TCI headquarters in Denver. Both executives were appalled as they watched the FCC announce a 7% reduction in cable rates, on top of a 10% rollback ordered last year. Malone immediately telephoned Smith. "Ray," Malone said in an emotionless voice, "this is a bigger hit than we thought." Responded Smith: "Can you fly to New York...
Still, the rollback of cable rates could slow the growth of cable companies and make them less attractive as merger partners. Falcon Cable TV, a Los Angeles-based company with 1.1 million cable subscribers, last week halted plans for a $125 million public offering in the wake of the FCC order. Falcon , had planned to use the funds to replace 2,300 miles of conventional wire with fiber-optic cable that could double its current 40-channel capacity. "The uncertainty caused by the FCC is like an apartment owner suddenly having rent control imposed," says Falcon chairman Marc Nathanson...
Hundt said the FCC's future objectives for children are three fold...
...FCC ordered cable companies Tuesday to reduce their rates by an average of 7 percent. The move followed a 5.9 percent cut last year that federal regulators called inadequate...
...industry we will win," said Anthony Price, marketing director of Continental Cablevision. "We set our rates on the FCC benchmarks and we feel we've been fair and just...