Tom Paro, 77, pres. of MSTV 1979-1988, died Jan. 11 at Suburban Hospital near Washington, D.C., of Parkinson’s disease and pneumonia. Before his stint at MSTV, Paro was an NBC vp and gen. mgr. of WRC-TV Washington. Survivors include his wife, 3 children, 2 stepchildren, brother, 8 grandchildren.
Although she hasn’t formally announced her resignation, FCC Cable Bureau Chief Deborah Lathen confirmed she planned to leave Commission soon after its new Republican chairman took over. Lathen, who has run Cable Bureau since spring 1998 and presided over further deregulation of cable industry, told us Fri. that she hadn’t decided on departure date but “will ensure a smooth transition” to next bureau chief. She said she also hadn’t decided what she would do next. At Western Cable Show in L.A. in late Nov., Lathen said her plan was to complete AOL- Time Warner merger review and then “wiggle my toes in the sand.” She brushed off questions about her legacy, saying she wasn’t focusing on that and considered it “the height of arrogance” to spin others about one’s record of accomplishments. “The way you live your life is your legacy,” she said. “Everyone in Washington is always talking about their legacies… I've tried to have broader aspirations.”
Moody’s placed senior unsecured A2 debt ratings of Portugal Telecom (PT) on review for possible downgrade following carrier’s disclosure that its Brazilian subsidiary was buying 49% of voting rights of Brazilian wireless carrier Global Telecom. PT’s Brazilian arm, Telesp Celular Participacoes (TCP), is buying stake for $1.2 billion, including assumed debt, giving it overall investment of 83% in company. Moody’s concluded that move was in line with PT’s international growth strategy but raised concerns that “the magnitude of the investment may constrain the financial ratios of the group over the near term, as well as expose it to a higher risk operating environment.”
PanAmSat said it had record $1.02 billion revenue and $694 million in earnings before interest expense, income taxes, depreciation and amortization (EBITDA) of 2000, up from $810.6 million revenue and EBITDA of $618.8 million last year. Net income edged up to $125.5 million from $122.2 million in 1999. Company said 4th-quarter earnings were $202.9 million, with $136.2 million in EBITDA. Company said it also signed $400 million in new long-term service agreements in 4th quarter. PanAmSat also projected total revenue of $1 billion for 2001, including $205-$210 million for first quarter.
Minority ownership of commercial TV and radio stations increased 0.9% overall over last 2 years, but minorities’ share of TV market actually declined in 2000, NTIA said in report released by Commerce Secy. Norman Mineta Tues. “Unfortunately,” this was increase “that we must attribute mostly to an industrywide economic boom and an improved reporting methodology,” Mineta said, and “clearly there is reason for concern.” NTIA survey showed that consolidation in industry threatened survival of minority and single-station owners, he said.
CARLSBAD, Cal. -- NAB and MSTV decided there’s “insufficient evidence” to continue DTV transmission tests of 8-VSB and COFDM and said industry should stay with 8-VSB as standard. Action was taken here Mon. at joint meeting of NAB TV board, MSTV board and digital steering committees of both groups and following digital “summit” of TV broadcasters in Washington last week (CD Jan 12 p9). Straw vote of participants at Cal. meeting was 29-3 in favor of 8-VSB with dissents from Pax TV, Sinclair Bcstg., Pappas Telecasting. Only Dean Goodman of Pax TV dissented in following formal vote by NAB TV board.
Crown Castle International announced IPO of 12 million shares of common stock at $26.25 per share to raise $315 million. Company said offering was expected to close Jan. 17. Crown Castle said it planned to use proceeds for “general corporate purposes” such as capital spending and for acquiring shared communications infrastructure.
Latest DTV station on air is WTLV-DT (Ch. 12, NBC) Jacksonville, which carries DTV on Ch. 13. Station is 173rd to carry DTV, NAB said.
Canadian Minister of Industry Brian Tobin planned auction of additional PCS spectrum Jan. 15. Qualified bidders reportedly include arm of Sprint PCS Canada Holdings, Bell Mobility subsidiary of BCE, Microcell, Rogers Wireless, Telus, Thunder Bay Telephone.
Now that FCC finally has approved AOL’s takeover of Time Warner (TW) with additional regulatory conditions, cable operators, consumer groups, phone companies, state and local regulators, ISPs, broadcasters, DBS providers, cable overbuilders and others already are girding for next big fights over extending those regulations to rest of cable industry. Likely new battle fronts include 2 separate FCC proceedings on cable open access issue and interactive TV (ITV) rules, each of which covers part of leading conditions imposed on AOL-TW by FTC and FCC. Another new battle front could be expected bill in new Congress that would create comprehensive regulatory scheme for all broadband services, whether delivered by cable, telephone, satellite or wireless technologies. “It’s going to be more diffuse,” said Precursor Group CEO Scott Cleland. “The progress will still be made but it will be more difficult to track.”