NSR Policy: FCC Upholds Prior Media Ownership Rules While Longer Term Reckoning Awaits
Over the holidays, the FCC adopted a Report and Order completing the 2018 quadrennial review of the Commission's broadcast ownership rules, upholding its current media ownership rules with only minor modifications. In this note, we quickly review what the FCC did, the implications for investors, and the broader shifts that will eventually cause a major shift in those rules (as well as what we think investors are missing in their policy analysis of a potential Discovery/Warner/Paramount deal).Discovery, through its subsidiaries, is a media company that provides content across distribution platforms, including pay-television, free-to-air and broadcast television, and direct-to-consumer subscription products. The company's portfolio of networks includes nonfiction television brands such as Discovery Channel, HGTV, Food Network, TLC, Animal Planet, Science Channel, and MotorTrend . The company's portfolio includes Eurosport, a sports entertainment provider. The company classifies its operations in two segments: U.S. Networks, consisting of domestic television networks and digital content services, and International Networks, consisting of international television networks and digital content services.
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- Pan European Telecom Services and Cable
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