israel@umcp-cs.UUCP (10/22/83)
Last week, it was reported that Cable News Network (CNN), owned by
Ted Turner, purchased Satellite News Network (SNN), from CBS for
$25 million. SNN was CNN's only competitor. CNN said that they
were immediately disbanding SNN and would satisfy all of SNN's
contracts with their own broadcast. SNN employs over 300 people.
Does anyone know anything about the legality of this? I haven't
heard about any reactions from the FCC or the FTC and I would have
thought that there would be something because of FCC rules and/or
anti-trust legislation.
--
^-^ Bruce ^-^
University of Maryland, Computer Science
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