Bring It On!

BushCo buddies buying more media outlets

Damn that librul media! They aren’t staying on top of buying up all the available tv stations. Rupert has sold off some of his television holdings to another rightwing equity firm, OakHill Partners. From the RawStory writeup:

Oak Hill Partners lead investor Robert M. Bass, a longtime associate of President Bush, is also the founder of the Ft. Worth, Texas-based Bass Brothers Enterprises. Oak Hill issued a statement announcing the stations would be jointly managed by a broadcast holding company, Local TV, that was created by Oak Hill for the purpose of purchasing 9 other television stations from The New York Times previously this year.

*snip*

News Corp. had originally intended to sell off nine of its US television stations; however Bass’s subsidiary, Local TV, could not purchase WHBQ-TV in Memphis, Tennessee as it had previously purchased CBS affiliate WREG-TV: “Federal Communicatio ns Commission rules allow market duopolies but only one of the two stations under a single owner can be among the market’s four top-rated stations there and there must be least eight unique station owners in the market once the duopoly is formed.”

I don’t want to hear about that liberal bias in the media. Not with these guys selling to each other to keep it in the ‘family’ as it were. With newspaper circulation dropping each quarter, television stations are vastly more important than print media as a form of news disseminatio n.

Tags: BIO, New York Times, Economics, capitalism, first amendment, ownership society, Bush, CBS, Liberal, media, Murdoch, rightwing, TV