July 17, 2001
Karmazin Testifies On Consolidation
source: R&R Online

The Viacom President/COO told the Senate Commerce Committee this morning why be believes traditional broadcasters need less government interference in order to compete in an ever-changing media landscape. "There are more choices coming, and the changes are going to be more dramatic," Karmazin said, noting that the upcoming launch of satellite radio and the burgeoning technology that will bring Internet service to cars threaten traditional broadcasters. According to The Washington Post, committee Chairman Ernest Hollings is expected to introduce legislation aimed at preventing the FCC from eliminating regulations that limit the size of media companies. But Karmazin pointed out that broadcasters shouldn't be singled out since "consolidation is taking place in every industry. We are competing for ad dollars from banks that are consolidating, from airlines ... Our advertisers and ad agencies have consolidated. In order for us to compete, we need a stronger, free, over-the-air broadcasting system." Karmazin called for changes to be made to the government's restrictions so that broadcasters "have a fair seat at the table."

posted on July 17, 2001 04:29 PM