Court Blocks FCC Media Ownership Rules
A federal court Wednesday blocked controversial new Federal Communications Commission media ownership rules pending a full judicial review in a major blow to large media companies. In a loss for the Republican-led FCC, the three-judge panel of the Third U.S. Circuit Court of Appeals in Philadelphia granted a stay order that prevented the new rules from taking effect as scheduled on Thursday. Critics argued that the FCC rules would concentrate too much power in the hands of media moguls. The new rules were backed by media giants including Viacom Inc.’s CBS, General Electric Co.’s NBC and News Corp. Ltd’s Fox… Read more »