The agreement with CBS, Cox, Scripps, Fox and Tegna requires them to “terminate and refrain from sharing revenue pacing information and other competitively sensitive information.”
The precipitating event for Silicon Valley’s regulatory reckoning? A change in our political beliefs.
For more than 75 years, the decrees have governed the process by which these two organizations license rights to publicly perform musical works. Justice says the review is to determine whether the decrees should be maintained in their current form, modified or terminated.
The Wall Street Journal reports the Justice Department is gearing up for an antitrust investigation of Alphabet Inc.’s Google, a move that could present a major new layer of regulatory scrutiny for the search giant, according to people familiar with the matter. Journal subscribers can read the full story here.
Those looking for Justice’s decision on whether it has any antitrust issues with Tegna’s purchase of Nexstar spin-off stations will have to wait a little longer. That is because for the sixth business day in a row the Federal Trade Commission has issued no early termination notices on any deal, an unusual hiatus for such announcements.
At the Justice Department last Friday, broadcasters were joined by Facebook and Comcast Cable in arguing that they all compete with each other for local advertising dollars. Winning that argument is the first step in convincing the DOJ to stop blocking duopolies of network affiliates. “There’s a really high overlap between these media types,” said Marcien Jenckes of Comcast. “Advertisers have shifted focus from this type of media or that type media. They think instead about their overall return on their media spend.”
Speaking yesterday on day one of the Department of Justice’s two-day workshop on the local advertising market, BIA Managing Director Rick Ducey said digital media are the fastest growing sector of the market. Digital, he said, will get 40% of the local auto spend this year and nearly 50% by 2023. DOJ is holding the workshop as it reconsiders its policy of blocking duopolies comprising network affiliates in light of changes in the ad market.
This Thursday and Friday, at a “workshop” in Washington, broadcasters get to make the case to the antitrust division of the Justice Department that TV stations compete not only with each other, but also with cable and digital media like Facebook and Google. It’s nice that Justice is giving broadcasters this opportunity to air their grievances, but I’m doubtful it will trigger a change in policy, at least not in the short term.
The DOJ’s antitrust division has told the two wireless carriers that their planned merger is unlikely to be approved as currently structured, according to people familiar with the matter, casting doubt on the fate of the $26 billion deal.