Recent Blog Posts
-
The Times' Rorshach Geithner Story
Apr 27 20099:04am EDT -
Sinking Animal Spirits
Apr 27 20098:04am EDT -
Counter-cyclical Urban Policy
Apr 26 200910:04am EDT -
Be Your Own Counterfeiter
Apr 26 20099:04am EDT -
Being Tim Geithner
Apr 25 200912:04pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:04am EDT -
What Good is the News?
Apr 25 20098:04am EDT -
Stressful Enough
Apr 24 20092:04pm EDT -
Not Regretting the Pound
Apr 24 20091:04pm EDT -
Introducing the New Ford Squeeze
Apr 24 20099:04am EDT -
Non-Economic Questions of the Day
Apr 24 20099:04am EDT -
The Stress Test Blind Alley
Apr 24 20098:04am EDT -
Happy Hour
Apr 23 20099:04pm EDT -
Recovery Without Rebalancing
Apr 23 20096:04pm EDT -
The Shape of Your Recession
Apr 23 20095:04pm EDT
Links
- Felix Salmon

- DealBreaker

- Ryan Avent: The Bellows

- The Epicurean Dealmaker

- Chris Anderson

- Ultimi Barbarorum

- MarketBeat

- Michelle Leder

- John Quiggin

- The Panelist

- Andrew Leonard

- Streetsblog

- Brad Setser

- Michael Mandel

- Financial Crookery

- Kash Mansori

- Dean Baker

- Calculated Risk

- Free Exchange

- Curbed

- Lance Knobel

- Econospeak

- Carbon Tax Center

- Overcoming Bias

- Mark Thoma

- Naked Capitalism

- Alphaville

- Barry Ritholtz

- Alexander Campbell

- The Bayesian Heresy

- Brad DeLong

- DealBook

- Greg Mankiw

- Deal Journal

- FP Passport

- Carl Bialik

- Marginal Revolution

- A Fistful of Euros

- Dan Gross

In Praise of Kevin Martin
Very few people have anything nice to say about the FCC's Kevin Martin. The WSJ's Amy Schatz has a rollicking overview of all the different constituencies he's managed to piss off since taking over in 2005 – the latest are the anti-media-consolidation crowd, who are most upset at today's decision to relax cross-ownership rules. But even the people who benefit from today's ruling are hardly fans: Martin has gone against them in the past, especially on the indecency front, and in any case they want much more than what they're getting:
If Mr. Martin expected business to show him a little love over his push to allow more media concentration, he has been disappointed. Big media companies think the proposal doesn't go far enough. (News Corp., owner of The Wall Street Journal, has lobbied the FCC to further relax cross-ownership rules.) The companies want unlimited rights to own newspapers and TV stations in the same market, saying the Internet has made the old rules obsolete.
I'm no fan of censorship, especially not when it comes to necessarily subjective grounds such as indecency. But I have to say I think Martin is doing a pretty good job of pushing smart reforms, like a la carte cable pricing, in the face of united opposition from Big Media. As overarching regulatory philosophies go, this is a good one:
"I genuinely believe that we need to be removing legacy regulations," Mr. Martin says. "But if you believe that, you also have to recognize where the government needs to have rules in place to facilitate that competition."
Industries generally evolve much more quickly than their regulators. In the communications industry, that means that cable operators – who historically were small enough not to require much in the way of regulation – have managed to get away with the kind of behavior which would be unthinkable were they to own TV stations. Martin's now focusing his regulatory attention on them, and, predictably, they and their lobbyists are squealing. Good for him.
As for cross-ownership, it's a non-issue which unfortunately plays extremely well on the political stage. No one can deny that the sheer variety of voices and viewpoints available to the public is wider now than it ever has been in the past, and there really is nothing to worry about when it comes to newspaper owners owning TV stations or the other way around. It's the flip-side of regulating the cable companies: the owners of newspapers and TV stations now have much less power than they used to, so they should be deregulated somewhat. It's a sign of intelligence and flexibility on the part of the regulator, two things which are generally pretty rare in Washington DC.






