The Circuit: FCC political ads, LightSquared, Google CEO letter By Hayley Tsukayama Senators ask FCC to reconsider ad rule: Several Republican senators have reportedly asked the Federal Communications Commission to reconsider a rule that would require television stations to post the records of the rates they offer to political advertisers online. According to a report from The Hill, six senators "with strong links to the Tea Party movement" said that the requirement to post the data online is "excessive and unnecessary." These records are currently available to the public by appointment for view in "public inspection files." LightSquared stands as cautionary tale: In a scathing critique of inside-the-Beltway politics, Harbinger Capital's Philip Falcone in an interview with The Washington Post accused the FCC of bowing to special interests that could have been hurt by the innovation, robbing consumers of a cheaper alternative to AT&T and Verizon Wireless. Harbinger Capital is the majority shareholder in LightSquared, a telecommunications firm that proposed a broadband and satellite network that could reach rural areas of the country. "We were ready to put the shovel in the ground, but they pulled the rug out from under us," Falcone said. Lobbyists, he added, "have a tremendous amount of power, and I was shocked by how regulators responded to that pressure." Two years ago,Falcone's company had the blessing of the Federal Communications Commission to use satellites to bring cellular service to the farthest reaches of the country, a high priority for President Obama. Now the FCC has put the project on ice, all but killing it after questions were raised about the network's interference with GPS satellites. Falcone said Thursday that LightSquared could consider bankruptcy. Google's Page gives an annual update: Commemorating a year as Google's chief executive this month, Larry Page wrote a letter to investors outlining his view of where the company stands and where it's headed. Page put emphasis on the company's mobile strategy and the evolution of search, which he described as one "in which Google understands real-world entities — things, not strings" to make search more personal and relevant to individuals. Google is set to announce its first quarter earnings April 12. Yahoo product chief resigns: Yahoo's chief product officer, Blake Irving, is leaving the company after an announcement from Chief Executive Scott Thompson that the company will cut 2,000 jobs to become a smaller, more nimble company, Yahoo confirmed in an e-mailed statement. While Yahoo had declined to comment on how the layoffs were distributed throughout the company, All Things Digital had reported that the brunt of the layoffs fell on the company's product team. Thompson was reportedly not happy with the product team, which was going through changes before the new chief executive took the job in January. Facebook to list on NASDAQ: Facebook is reportedly leaning toward listing on the NASDAQ along with its fellow technology companies, according to media reports Thursday. Citing unnamed "people familiar with the matter," The Wall Street Journal reported that the decision would help NASDAQ's reputation in the high-tech industry, and that Facebook wished to be listed along with Apple, Google and Microsoft. |
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