    
Abm
"Cyniquian" Level Poster
Username: Abm
Post Number: 3960
Registered: 04-2004
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, August 14, 2005 - 07:07 am: | 
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"Ex-FCC Head Joins Private-Equity Firm
PROVIDENCE, R.I. (Aug. 11) - Former Federal Communications Commission Chairman Michael K. Powell has joined Providence Equity Partners, a private-equity company focused on investing in media and communications companies, the investment firm said Thursday...
...Last September, the FCC fined CBS owner Viacom Inc. $550,000 for the 2004 Super Bowl halftime show, during which pop singer Janet Jackson experienced a now-infamous "wardrobe malfunction"...
...Powell's move was criticized by Jeff Chester, executive director of the Center for Digital Democracy, a media watchdog group. He said it was evidence of a "revolving door" between the FCC and industry, which he called a disservice to the public...
...Providence Equity Partners manages more than $9 billion in private equity funds in more than 80 companies worldwide, including Metro-Goldwyn-Mayer Inc., PanAmSat Corp., Nextel Communications Inc. and Deutsche Telekom's VoiceStream Wireless Corp., according to its Web site."
http://aolsvc.news.aol.com/special4/article.adp?id=20050811124409990005
WOW!
Who would have predicted that former FCC Chairman Michael (Colin's son) Powell who while he headed the FCC did his DAYAMEST to embellish the interests of mega-communication businesses would LATER score a high-paying gig for a company that makes its dough investing in...mega-communication businesses? |
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