On November 7, 1967 President Lyndon B. Johnson signs the Public Broadcasting Act of 1967, establishing the Corporation for Public Broadcasting. The law announced "to the world that our Nation wants more than just material wealth; our Nation wants more than a "chicken in every pot." We in America have an appetite for excellence, too."
http://www.cpb.org/aboutpb/act/remarks.html
BENTON'S COMMUNICATIONS-RELATED HEADLINES for FRIDAY NOVEMBER 7, 2008
Coverage of the presidential transition has started; track it at http://benton.org/taxonomy/term/1657
THE TRANSITION
GAO Launches Transition Site; DTV and Telecom Reform Identified as Major Issues
Obama's search for a CTO
Election Puts Tech and Movies On Opposite Paths
Washington lawyers' advice to Silicon Valley: Don't sit on sideline
Dingell's team fires back
INTERNET/BROADBAND
Global broadband prices down -- but not in US
Will Congress Scuttle FCC White Space Decision?
Google leader sees green in white space
FCC's Martin addresses Wireless Broadband before Advanced Services Conference
FCC will seek more comment on telecom reforms
Google and Yahoo Say Deal Would Have Survived a Suit
Ballmer rules out new Yahoo bid
NTIA Chief To ICANN: Proceed With Caution
AT&T acquires Wi-Fi access provider Wayport for $275M
CYBERSECURITY
Chinese hack into White House network
Board urges full funding of cybersecurity initiative
Navy enlists Web 2.0
ELECTIONS & MEDIA
Election Weekend News Interest Hits 20-Year High
White House press corps likely more diverse
Obama Victory Is Record News on the Web
Will Obama Do For Web What FDR Did For Radio?
TELECOM
Microsoft Tries to Steal Verizon Deal From Google
Vodafone to Push Stake In Vodacom to Majority
EU scales back telecoms regulation plan
Cell phone makers face toughest year since 2001
Wireless industry has ideas for Obama
QUICKLY -- FCC May Fine Stations For Violating Children's Ad Rules; Commercial satellites alter global security; Malaysian court frees blogger;Craigslist Agrees to Curb Sex Ads; Tribune May Retain Half of Cubs
THE TRANSITION
GAO LAUNCHES TRANSITION SITE; DTV AND TELECOM REFORM ARE MAJOR ISSUES
[SOURCE: Government Accountability Office]
Following each presidential election, GAO serves as a resource to assist with the transition to a new Congress and administration. On this Web site, using its institutional knowledge and broad-based, nonpartisan work on matters across the government spectrum, GAO provides insight into, and recommendations for addressing, the nation's major issues, risks and challenges. Also located throughout the site are key reports for further research, as well as contact information for and video messages from GAO experts. Among the major issues identified: 1) Status of Digital TV Transition: Television signals will switch from analog to digital on February 17, 2009, and those viewers that have not made the proper arrangements, including purchasing and installing a converter box, will lose their signals. While federal agencies responsible for publicizing this transition and providing subsidies for converter boxes have taken steps to resolve the issue, some viewers may still lose their signals; this will be particularly problematic if poor weather or another emergency occurs. 2) Telecomm Reform/FCC Management and Organization: The Federal Communications Commission faces significant challenges in regulating the fast-changing multibillion-dollar telecommunications field. The agency's essential organization has not changed to meet the industry's needs, and GAO has previously reported on gaps in FCC's ability to develop and manage data, performance measures, and other metrics useful to its regulatory mission.
http://benton.org/node/18650
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OBAMA'S SEARCH FOR A CTO
[SOURCE: C-Net|News.com, AUTHOR: Stephanie Condon]
By naming some technology executives to his transition team--especially former IAC executive Julius Genachowski--President-elect Barack Obama is signaling that he's likely to follow through with his proposal to appoint a chief technology officer to the White House. The person in this new position--and possibly a new White House technology office staff--could be given the directive to create new levels of transparency and access to government agencies, or to guide policies that spur innovation and growth. Technology experts within the Beltway warn, however, that a CTO would have to avoid potential pitfalls such as creating new spending for ineffectual projects, running into conflict with other agencies, or simply becoming nothing more than a symbolic office. Still, creating the position would generally be seen as a positive step. First, the transition team will have to decide how to structure the White House. The jurisdiction of a CTO could overlap with other agencies or executive positions in areas such as innovation policy, cybersecurity, or intellectual property enforcement. To avoid those overlaps, the Obama team will have to decide, for instance, whether the CTO would focus on goals like making agencies more efficient or take on a broader agenda such as dictating policy.
http://benton.org/node/18649
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ELECTION PUTS TECH AND MOVIES ON OPPOSITE PATHS
[SOURCE: PublicKnowledge, AUTHOR: Art Brodsky]
[Commentary] Two industries find themselves in different directions after the election. The Internet/tech industry is on the way up. The big content companies are at a crossroads, stuck in neutral while being buffeted by lots of competing forces. The Internet/tech industry won two important votes on Tuesday. The election of Barack Obama puts into play an ambitious and progressive technology policy agenda that starts off with "protect the openness of the Internet." The Obama/Biden plan also includes a goal of leading the world in broadband deployment through use of the Universal Service Fund, tax and loan incentives. Coincidentally, earlier on Election Day, the Federal Communications Commission (FCC) gave the tech/Internet industry (along with its public-interest allies) another significant victory. The Commission overrode the protests of the broadcasting industry, Broadway, the National Football League and Dolly Parton to allow parts of the public's airwaves that exist between TV channels to be used for unlicensed purposes. These "white spaces" are not used, but the broadcasters put up their normal fuss about interference, as did the theatre and other interests, who were concerned that devices in the white spaces might interfere with wireless microphones, many of which operate illegally.
http://benton.org/node/18648
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WASHINGTON LAWYERS' ADVICE TO SILICON VALLEY: DON'T SIT ON SIDELINE
[SOURCE: San Jose Mercury News, AUTHOR: Pete Carey]
Three inside-the-Beltway Washington lawyers had some advice for Silicon Valley on Thursday: Get involved now. Three inside-the-Beltway Washington lawyers had some advice for Silicon Valley on Thursday: Get involved now. They said the valley should be selling itself as part of the solution to the country's many problems as the Obama administration tries to revive the economy and begins shaping its policies and priorities on issues ranging from energy to health care. If they kick back now that the election is over, the valley's tech industries will be trampled by competing interests, warned Reginald Brown, a lawyer with the national law firm WilmerHale's Washington office. "Silicon Valley is going to lose if it doesn't go to Washington," Brown said.
http://benton.org/node/18666
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DINGELL'S TEAM FIRES BACK
[SOURCE: The Hill, AUTHOR: Mike Soraghan]
House Commerce Committee Chairman John Dingell (D-MI) and his supporters launched their counteroffensive against the coup attempt of Rep Henry Waxman (D-CA) Thursday, disputing reports that Waxman has the votes to replace Dingell. "We have more than enough to block the claim that he has a majority of new members," said Rep. Bart Stupak (D-MI), one of the committee's co-chairs. "We don't have any reasons for this except Mr. Waxman wants to be chairman." Joining Rep Stupak on the call were Reps Mike Doyle (D-PA) and John Barrow (D-GA). Rep Stupak said Rep Jim Matheson (D-Utah) had planned to join the call, which was delayed.
http://benton.org/node/18653
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INTERNET/BROADBAND
GLOBAL BROADBAND PRICES DOWN -- BUT NOT IN US
[SOURCE: Associated Press, AUTHOR: Peter Svensson]
Prices for residential high-speed Internet service are down 20% globally from the start of the year, according to a British research firm. The biggest price drop is for DSL broadband over phone lines, with the average monthly price falling from nearly $67 in the first quarter to $53 in the third, according to the analyst firm, Point Topic. However, little of the decrease has happened in the U.S., where prices have been largely stable and are already lower than the global average. Americans are paying $16 per megabit per second of download speed, far lower than the $46 average in the Middle East and Africa. However, DSL is cheaper in Europe, and cheaper still in Asia-Pacific, where people are paying $3.80 per megabit. Cable Internet service used to be cheaper in the U.S. than in Europe, for the same speed. But that situation has reversed, as European operators have raised their speeds while lowering prices. U.S. operators have also raised their speeds, but have kept prices the same, Point Topic said.
http://benton.org/node/18647
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WILL CONGRESS SCUTTLE FCC WHITE SPACE DECISION?
[SOURCE: Sci-Tech Today, AUTHOR: Frederick Lane]
The decision by the Federal Communications Commission on Tuesday to open up white space -- the unused frequencies between television channels -- to unlicensed Wi-Fi devices is being hailed by technology companies as the dawning of a new era in broadband Internet access. But the ruling is also being harshly criticized by various trade groups, including the National Association of Broadcasters (NAB), which argues that both the FCC's procedure and the concept are flawed. "By moving the white-space vote forward," said Dennis Wharton, NAB's executive vice president, "the commission appears to have bypassed meaningful public or peer review in a proceeding of grave importance to the future of television." A statement by NAB suggests that the group may be considering asking Congress to either reverse or substantially alter the FCC's white-space decision. According to NAB, a large number of lawmakers "publicly expressed opposition or concern over the FCC's proposed white-space action."
http://benton.org/node/18643
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GOOGLE LEADER SEES GREEN IN WHITE SPACE
[SOURCE: San Francisco Chronicle, AUTHOR: Ryan Kim]
Google co-founder Larry Page and Kevin Martin, chairman of the Federal Communications Commission, lauded this week's FCC vote to open up vacant broadcast spectrum for unlicensed use - a move, they said, that carries enormous potential. The new use of these "white spaces" could enhance people's lives in much the way that Wi-Fi has become indispensable for laptop and mobile device owners, they said Thursday at a wireless conference in San Jose. But it will take at least 18 months before devices are built to work on the spectrum.
http://benton.org/node/18657
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FCC'S MARTIN ADDRESSES WIRELESS BROADBAND BEFORE ADVANCED SERVICES CONFERENCES
[SOURCE: Federal Communications Commission, AUTHOR: FCC Chair Kevin Martin]
Federal Communications Commission Chairman Kevin Martin addressed the FCC-NARUC Joint Conference on Advanced Services at a conference in San Jose. Broadband is increasingly mobile. People want access to all kinds of information - the Internet, news, e-mail, photos, music, and videos - at anytime and from any location. Chairman Martin said, "While it is difficult to imagine where the wireless industry will be ten or even five years from now, it is important that as regulators we foster a flexible regulatory environment that continues to promote innovation. We must prioritize policies that promote 'next generation networks.' Broadband is an increasingly important driver of economic and social growth." He said he would soon propose a new regulatory framework for the co-existence of licensees in the Satellite Digital Audio Radio Service (SDARS) and in the Wireless Communications Service in the 2305-2360 MHz band.
http://benton.org/node/18651
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FCC WILL SEEK MORE COMMENT ON TELECOM REFORMS
[SOURCE: InfoWorld, AUTHOR: Grant Gross]
Federal Communications Commission has decided to seek more comment on proposed changes to two programs, the Universal Service Fund and intercarrier compensation, that have been controversial for years. Instead of moving forward with changes to both programs, as FCC Chairman Kevin Martin had pushed for, the other four commissioners decided late Wednesday to seek more comment on both programs. In July, U.S. Court of Appeals for the District of Columbia ordered the FCC to provide a valid legal reason why it was exempting Internet-based voice traffic from intercarrier compensation rules, which determine the rates that telecom carriers pay for using each other's networks.
http://benton.org/node/18646
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GOOGLE AND YAHOO SAY DEAL WOULD HAVE SURVIVED A SUIT
[SOURCE: New York Times, AUTHOR: Miguel Helft]
A day after Google walked away from an advertising partnership with Yahoo, Eric E. Schmidt, the chief executive of Google, said he believed that the companies would have been successful if they had chosen to defend the deal in court. Google chose to abandon the controversial plan after the Justice Department notified the companies that it would file an antitrust suit to block it. Yahoo said it would have preferred to defend the deal in court.
http://benton.org/node/18665
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BALLMER RULES OUT NEW YAHOO BID
[SOURCE: Financial Times, AUTHOR:]
Steve Ballmer, Microsoft's chief executive, on Friday said emphatically his company would not bid for Yahoo again, following comments by the embattled Internet company's chief executive which added to the belief that Yahoo was seeking a return to negotiations.
http://benton.org/node/18664
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NTIA CHIEF TO ICANN: PROCEED WITH CAUTION
[SOURCE: CongressDaily, AUTHOR: Andrew Noyes]
National Telecommunications and Information Administration chief Meredith Baker told the Internet Corporation for Assigned Names and Numbers that the agency's blueprint for making sweeping changes to the way top-level domains are assigned must take into consideration the impact of potential changes to the registrar and registry marketplace and demonstrate that it has the sufficient capacity to enforce contract compliance with an as yet unknown number of new contracts. She warned against expanding the marketplace before having "effective and meaningful tools to protect consumers and brand owners" and said appropriate mechanisms must be in place to address dispute resolution with respect to new domain names "including the delicate issues of morality and public order." She also urged ICANN to provide clarity on the fee structure, the possible use of auctions, and the disposition of excess revenues given ICANN's status as a non-profit.
http://benton.org/node/18642
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AT&T ACQUIRES WI-FI ACCESS PROVIDER WAYPORT FOR $275 MILLION
[SOURCE: TheDeal.com, AUTHOR: Baz Hiralal]
AT&T is buying privately-held Wayport for about $275 million in cash, adding nearly 20,000 domestic hotspots to its global Wi-Fi presence of more than 60,000 locations. Wayport enables wireless connections to the Internet via smartphones and other Wi-Fi enabled devices at McDonald's restaurants, Hertz offices, hotels, airports and other locations. The firm, founded in 1996, counts Sevin Rosen Funds, Invesco Private Capital, New Enterprise Associates, Scale Venture Partners and Trellis Partners as its major investors.
http://benton.org/node/18641
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CYBERSECURITY
CHINESE HACK INTO WHITE HOUSE NETWORK
[SOURCE: Financial Times, AUTHOR: Demetri Sevastopulo]
Chinese hackers have penetrated the White House computer network on multiple occasions, and obtained e-mails between government officials. The cyber attackers managed to penetrate the White House system for brief periods that allowed them to steal information before US government experts each time patched the system. US government cyber experts suspect the attacks were sponsored by the Chinese government, although they cannot say for definite.
http://benton.org/node/18668
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BOARD URGES FULL FUNDING OF CYBERSECURITY INITIATIVE
[SOURCE: nextgov, AUTHOR: Bob Brewin]
The nation's information infrastructure remains vulnerable to cyberattack and the incoming Obama administration must take immediate steps to improve cybersecurity, the Defense Science Board warned in a report released on Tuesday. The new administration should place the "highest priority" on the classified National Cybersecurity Initiative that the Bush administration launched in January, according to the report, "Defense Imperatives for New Administration." The report, released on Election Day, outlined a small, yet complex set of issues that threaten "future military failure" if not addressed, including stopping the development and deployment of weapons of mass destruction and shortening the procurement cycle for Defense Department technology. The science board focused on the cybersecurity initiative, estimated to cost as much as $30 billion in seven years, as important.
http://benton.org/node/18644
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NAVY ENLISTS WEB 2.0
[SOURCE: Government Computer News, AUTHOR: Doug Beizer]
The Navy's chief information officer has endorsed the use of Web 2.0 tools to improve communication and collaboration. Tools that include wikis, blogs and Web feeds will give warfighters seamless access to important information, said Navy CIO Robert Carey, who also the first government CIO to publish a public blog. Commands are encouraged to use Web 2.0 tools while still following existing regulations and policies, Carey wrote in a policy statement last month. Collaborative tools must not compromise confidential data, he wrote, adding that Navy and Marine personnel must be careful when using Web 2.0 tools on the Navy's unclassified network.
http://benton.org/node/18645
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ELECTIONS & MEDIA
ELECTION WEEKEND NEWS INTEREST HITS 20-YEAR HIGH
[SOURCE: Pew Research Center for the People & the Press, AUTHOR: Andrew Kohut et al]
The final Pew Research Center Weekly News Interest Index of the campaign finds that as the long presidential campaign wound down last week, the public remained highly engaged. Fully 60% of registered voters said they were following campaign news very closely, while 28% said they were following fairly closely. That is the highest level of voter interest just before a presidential election since the Pew Research Center began tracking campaign news interest in 1988.
http://benton.org/node/18640
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WHITE HOUSE PRESS CORPS LIKELY MORE DIVERSE
[SOURCE: Politico.com, AUTHOR: Michael Calderone]
There's been a decline in the number of black White House reporters during the Bush years, with just four or five regularly in the briefing room. But as news organizations put the finishing touches on their White House teams and black-oriented publications look to ramp up their coverage of the first black president, that dynamic is poised to reverse.
http://benton.org/node/18639
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OBAMA VICTORY IS RECORD NEWS ON THE WEB
[SOURCE: New York Times, AUTHOR: Brian Stelter]
The hour beginning 11 p.m. Tuesday — when Senator Barack Obama was widely projected to have won the presidency — was the biggest for news Web sites since measuring began three years ago. Demonstrating the Web's growing dominance as a news source, an average of 8.5 million visitors per minute clicked onto news Web sites worldwide from 11 p.m. to midnight, according to the Internet distribution company Akamai. The company typically reports an average of about three million visitors. Several online news sites, including those produced by MSNBC, CNN and ABC News, said that Tuesday ranked as their most-visited day ever.
http://benton.org/node/18667
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WILL OBAMA DO FOR WEB WHAT FDR DID FOR RADIO?
[SOURCE: CongressDaily, AUTHOR: Andrew Noyes]
President-elect Barack Obama, who demonstrated through the success of his campaign's Internet outreach effort that he sees value in technology, may replace the White House's traditional Saturday radio address with a weekly speech on the popular video-sharing Web site YouTube, New Democrat Network founder Simon Rosenberg predicted Thursday. Rosenberg, who spoke at a Computer and Communications Industry Association reception, said he envisions the talk being translated in near real-time to Arabic, Mandarin, Spanish and other languages and available to a global audience. In short, Obama will do for the Internet what President Roosevelt did for radio, he said.
http://benton.org/node/18652
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TELECOM
MICROSOFT TRIES TO STEAL VERIZON DEAL FROM GOOGLE
[SOURCE: Wall Street Journal, AUTHOR: Amol Sharma, Nick Wingfield, Jessica Vascellaro]
Microsoft, capitalizing on Google's regulatory snarl, is working to steal a deal with Verizon Wireless away from its rival. Microsoft has gotten the mobile carrier's attention by offering a sweeter deal to put its search service and related advertising on Verizon phones. Microsoft is also offering more generous revenue sharing and a guarantee of substantially higher payments to Verizon. Google has been in discussions for months with Verizon to make its search engine the default on most Verizon phones. Microsoft's move -- following its failure to acquire Yahoo Inc. for $45 billion earlier this year -- shows how it is trying to put together a new arsenal against Google. It is taking the step just as Google's search-ad partnership with Yahoo fell apart Wednesday amid opposition from the Department of Justice.
http://benton.org/node/18663
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VODAFONE TO PUSH STAKE IN VODACOM TO MAJORITY
[SOURCE: Wall Street Journal, AUTHOR: Robb Stewart]
Vodafone Group PLC, the world's largest mobile-phone operator by revenue, said it will take majority control of South Africa's Vodacom Group Ltd. in a 22.5 billion rand ($2.31 billion) deal that sets Vodafone up for further acquisitions in Africa. The UK company, which owns 50% of Vodacom, will buy a further 15% interest from venture partner Telkom SA, bringing its stake to 65%. It also will take on Vodacom debt of roughly 1.55 billion rand. With mobile-phone penetration rates in Africa among the lowest in the world, phone companies have increasingly been looking to the continent for customer growth. MTN Group, Africa's largest operator with businesses in 21 countries, has led the charge and earlier this year attracted merger offers from two Indian operators.
http://benton.org/node/18661
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EU SCALES BACK TELECOMS REGULATION PLAN
[SOURCE: Financial Times, AUTHOR: Helen Warrell]
The European Commission on Friday scaled back its proposals for an EU telecoms authority, following objections by both the European Parliament and member states earlier this year. The telecoms reform package, first put forward last November, aims to create a single market across the 27-member European Union with improved rights for consumers and businesses. The Parliament voted in September to accept the bulk of reforms but raised concerns over the creation of a European Telecom Market Authority which would co-ordinate and standardize industry regulation. Under Friday's compromise proposals, the authority would be renamed the Body of European Telecoms Regulators, with half the staff seconded from national regulators to emphasize the importance of their input. The EU's executive body also dropped earlier plans to merge the new organization with the existing European Network and Security Agency, and chopped the number of employees from around 130 to just 20.
http://benton.org/node/18658
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CELL PHONE MAKERS FACE TOUGHEST YEAR SINCE 2001
[SOURCE: Reuters, AUTHOR: Tarmo Virki]
A wave of economic gloom is set to hit mobile phone buyers next year, with a growing number of analysts expecting the once-buoyant market to shrink for the first time since the 2001 crash, a Reuters poll showed. On average, analysts expect global growth to be 3 percent in both the fourth quarter and 2009, compared with well above 10 percent in recent years, although 8 out of 22 analysts said they expect the market to contract next year. In a similar poll just a month ago, only one analyst out of 23 forecast 2009 market sales volumes to fall, and then only slightly.
http://benton.org/node/18655
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WIRELESS INDUSTRY HAS IDEAS FOR OBAMA
[SOURCE: Government Computer News, AUTHOR: William Jackson]
President-elect Barack Obama already is getting advice on how to address information technology issues in his coming administration. The Wireless Communications Association International on Wednesday released a "National Wireless Broadband Strategy for the New Administration," promoting WCAI's equivalent of "a chicken in every pot" by calling for "a connection to every person, whether at home or on the go." The strategy recommended policies ranging from the local to the international levels to minimize barriers to construction of wireless broadband infrastructure and to maximize universal broadband access. "For America to remain competitive in a global economy, it must connect everyone to broadband networks at affordable prices, no matter who they are or where they live," WCAI says in its strategy. "Universal broadband access at affordable prices is a national strategic imperative for the United States in the 21st century."
http://benton.org/node/18654
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QUICKLY -- FCC May Fine Stations For Violating Children's Ad Rules
FCC MAY FINE STATIONS FOR VIOLATING CHILDREN'S AD RULES
[SOURCE: Broadcasting&Cable, AUTHOR: John Eggerton]
The Federal Communications Commission proposed fining two TV stations a total of $16,000 (the baseline $8,000 apiece) for violating its children's TV advertising rules. Both stations, KSTW-TV Tacomah (WA), and KBCW-TV San Francisco, volunteered their ad overages to the FCC as part of their requests for license renewals, which the FCC has yet to act on, though it has had the applications for over two years in each case.
http://benton.org/node/18638
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CRAIGLIST AGREES TO CURB SEX ADS
[SOURCE: New York Times, AUTHOR: Brad Stone]
The online classifieds company Craigslist said Thursday that it had reached an agreement with 40 state attorneys general and agreed to tame its notoriously unruly "erotic services" listings. Prostitutes and sex-oriented businesses have long used that section of Craigslist to advertise their services.
http://benton.org/node/18662
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MALAYSIAN COURT FREES BLOGGER
[SOURCE: Reuters, AUTHOR: David Chance, Jalil Hamid]
A Malaysian court freed on Friday a blogger who was detained under the country's draconian security laws and whose arrest in September sparked condemnation from the opposition and rights groups. Opposition supporter Raja Petra Kamaruddin, 58, was held under Malaysia's Internal Security Act (ISA) that allows indefinite detention without trial. He was suspected of being a threat to security for insulting Islam in this mainly Muslim country of 27 million people.
http://benton.org/node/18656
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COMMERCIAL SATELLITES ALTER GLOBAL SECURITY
[SOURCE: USAToday, AUTHOR: Peter Eisler]
The secretive National Geospatial-Intelligence Agency is rushing to get the latest, high-definition satellite photos of Afghanistan into the hands of US ground troops as they ramp up operations in the country's tangled terrain. The NGA analysts aren't tapping the government's huge network of highly classified spy satellites; they're getting the pictures from commercial vendors. That's the same stuff pretty much anyone can get, either through free, online programs, such as Google Earth, or by buying it from the same companies supplying Uncle Sam. It's a remarkable turn, given the warnings that security experts in the USA and worldwide raised a few years ago about giving the entire planet — terrorists and rogue states included — access to high-resolution satellite photos once available only to superpowers. Last month, the most powerful commercial satellite in history sent its first pictures back to Earth, and another with similar capabilities is set for launch in mid-2009. The imagery provided by those and other commercial satellites has transformed global security in fundamental ways, forcing even the most powerful nations to hide facilities and activities that are visible not only to rival nations, but even to their own citizens. Although no one disputes that commercial imagery poses threats, it has been embraced in ways few predicted.
http://benton.org/node/18659
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TRIBUNE MAY RETAIN HALF OF CUBS
[SOURCE: Wall Street Journal, AUTHOR: Matthew Futterman]
With the election over, it's time to re-focus on baseball. Sam Zell's Tribune Company may end up holding 50% or more of the media company's storied Chicago Cubs baseball franchise as the credit crunch stalled sales talks. In recent weeks, an early plan to sell a 95% stake has fallen to about half as suitors' ability to buy the team and its landmark stadium on Chicago's North Side waned. On Thursday, bidders were preparing to receive a request to submit new purchase proposals with financing details. The shift in strategy is a result of the tight credit market and a heightening fear that few, if any bidders, would be able to complete a transaction once valued at more than $1 billion. Under the new scenario, the windfall to Tribune would be far less. But the likelihood of selling a smaller stake raises the question of whether Mr. Zell erred by not pushing for a quick sale after he took control of Tribune. Mr. Zell had said the sale of the Cubs, the stadium and a 25% stake in a regional sports network was a priority when he struck a deal to buy Tribune for $8.2 billion in April 2007. The Tribune acquisition saddled the TV and newspaper company with $13 billion of debt amid declining revenue at its eight major daily newspapers.
http://benton.org/node/18660
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Is it Friday already?