FCC's Apollo Decision Will Lead to Higher Prices for Consumers, Says ATVA
WASHINGTON, DC – The American Television Alliance (ATVA) today released the following statement in response to the Federal Communications Commission's decision to allow Apollo Global Management's takeover of TV and radio stations owned by Cox Enterprises and Northwest Broadcasting:
"The FCC's approval of Apollo's acquisition of Northwest and Cox demonstrates why we need Congress to act to reform retransmission consent. FCC rules prohibit Apollo from acquiring two of the "top-four" rated television stations in a single market. Apollo has agreed to sell stations in two markets to avoid application of this rule. At the same time, though, it will transfer the programming of the "top-four" rated television stations to a multicast stream on the stations it is keeping. Although Apollo won't technically violate the rules, the harm remains the same. They will own two "top-four" broadcasts in these markets, which will lead to higher prices for consumers. It is far past time for Congress to intervene on behalf of consumers. We urge it to do so as it considers STELAR renewal."
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