Business digest 101406
Saturday, October 14, 2006
FCC fails to act on AT&T-BellSouth deal
WASHINGTON -- The chairman of the Federal Communications Commission on Friday delayed a vote on the proposed buyout of BellSouth Corp. by AT&T Inc. until as late as Nov. 3 after two Democrats asked for more time to study last-minute concessions proposed by AT&T. The proposed deal already was under fire by consumer advocates and some lawmakers who said it would go a long way toward re-establishing a communications monopoly.
Air America seeks Chapter 11 protection
NEW YORK -- Air America Radio filed for bankruptcy reorganization Friday, in the latest patch of turbulence to befall the liberal talk radio network that launched two years ago. The network will continue to operate with funding from its investor group. Spokeswoman Jaime Horn said Friday the filing became necessary after negotiations with a creditor broke down. Air America has struggled financially since its inception. After a listener called in Friday to ask about it, radio talk show host Rush Limbaugh said, "It was doomed to fail. ... They went into business to affect elections."
-- From wire reports