Not much surprise in the news of former FCC chieftain Mikey Powell going to work for Providence Equity Partners, which specializes in venture/vulture capitalism involving global media interests. Powell, as a “Senior Advisor,” will no doubt assist in the management of Providence’s ~$9 billion portfolio. His pinstriped suits should fit in very well there. Continue reading “Mikey Powell: Telecoms Investor”
FCC Chairman Reed Hundt has announced his resignation from office. Hundt’s in good company; FCC Commissioner James Quello has already announced his intent to step down, and Commissioner Andrew Barrett flew the coop in April.
The current Commission has been unmatched in its zeal to sell out the public. It was under Hundt and cohorts that auctions of portions of the spectrum became common practice. While the agency was mandated to adopt the process with the passage of the Telecom Act of 1996, the zeal with which it went ahead with the sales is disturbing.
The auctions have been somewhat controversial, but when the plan brought hundreds of millions of dollars into the government’s coffers, the outcry slackened off. Now the winning corporations “own” the rights to broadcast on various areas of the spectrum, and the public loses. Continue reading “The Hundt Follies”