FTC/DoJ clearance procedures
This article was originally published in The Rose Sheet
Executive Summary
Any future agreement on merger clearance procedures would have to satisfy Senate Commerce Committee Chairman Fritz Hollings' (D-S.C.) concerns about concurrent jurisdiction, particularly for media mergers. FTC, DoJ notified Hollings, who also chairs Senate Appropriations/Commerce Subcommittee, May 20 that they would not follow through with March 5 agreement that divvied up jurisdiction by industry (1"The Rose Sheet" April 22, 2002, p. 8). Proposed compromise that would have given FTC jurisdiction over one-third of cable mergers was rejected by Commerce Committee staff May 17. DoJ cited "prospect of budgetary consequences" if it stood by original agreement; supplemental appropriations bills, marked up in Senate May 22, was potential vehicle for budget, salary cuts for agencies...