In the News
By Yussuf J. Simmonds
It was a field hearing of the Congressional Committee on the Judiciary, which was chaired by Representative John Conyers (MI-14) along with Representatives Judy Chu (CA-32), Steve Cohen (TN-9), Louie Gohmert (TX-1) and Maxine Waters (CA-35).
Its specific purpose was to solicit input from the community and members of the media on the pending merger of Comcast and NBC/Universal. There were 12 witnesses slated to testify and when they were finished, the results seemed equally divided on whether or not the merger should go through.
By Bob Fernandez
U.S. Rep. Maxine Waters, a Democrat from Los Angeles, has emerged as a deep skeptic of Comcast Corp.'s proposed $30 billion deal for NBC Universal Inc., and about 70 like-minded lawmakers have joined her in calling for more public hearings on the merger.
Waters said in an interview Thursday that she was concerned about the economic power of Comcast-NBCU and the lack of diversity in the media industry.
By Paul Bond
Opponents of the merger between Comcast and NBC Universal fear being blacklisted if they speak their minds.
So argues U.S. Congresswoman Maxine Waters, who made the charge Monday during a House Judiciary hearing that focused on whether the proposed merger would lead to more, or less, ethnic diversity in the entertainment industry.
The outspoken California Democrat also insinuated that someone representing Comcast inquired about making certain political donations in exchange for her support of the merger.
By MICHAEL CIEPLY
At a Congressional field hearing in Los Angeles on Monday, witnesses pressed lawmakers to demand that Comcast guarantee expanded opportunity for minority-backed cable services, television shows and films in exchange for approval of its proposed deal to take control of NBC Universal.
By Joe Flint
One critic likened cable TV giant Comcast Corp. to a plantation, while another pointed to the BP oil spill disaster as what could happen when companies escape tough regulatory scrutiny. Then an influential congresswoman dropped a bomb by hinting that Comcast had tried to buy her support for one of the biggest media deals in history.
Rep. Maxine Waters (D-CA) is not at all pleased with the consolidated state of the broadcasting industry, especially at the top of the food chain, where she notes that very few companies control the lion's share of prime time programming. That makes her leery of yet another merger such as the proposed acquisition of NBCU by Comcast.
Rep. Maxine Waters (D-CA) did not have all of her questions about the proposed Comcast/NBCU merger answered at the recent House Judiciary Committee field hearing in Los Angeles, and is calling for continued scrutiny of the transaction.
By LEILONI DE GRUY
The proposed merger of cable giant Comcast and NBC-Universal could prove detrimental to underrepresented groups, according to several people who testified Monday at a special hearing of the House Judiciary Committee.
But to others who spoke during the hearing, held at the California Science Center, it may be the start of a landmark venture that could boost minority participation in mass media.
By Jessica Holzer
A measure to put the Federal Housing Administration on firmer financial footing sailed through the U.S. House of Representatives Thursday.
The legislation, approved on a 406-4 vote, would allow the FHA to shift some of the upfront costs it charges borrowers to the annual premium and give the agency more powers to protect itself from fraudulent or poorly underwritten loans.
By Corbett B. Daly
The U.S. House of Representatives on Thursday approved a bill to shore up the finances of the cash-strapped Federal Housing Administration while also backing a measure to raise the loan limits for FHA-backed mortgages used to develop some apartment buildings.
In a 406-4 vote, lawmakers approved legislation to strengthen the FHA's finances by giving it authority to nearly triple the annual fees it charges to borrowers, known as mortgage insurance premiums.