• by John Gaffney , May 27, 2003

This Just In: I go to this little coffee shop every morning on Route One in a small Connecticut town. And every morning there's a group of five or six older women sitting over coffee and danish talking about somebody's relatives or maybe some more important news of the day. They seemed to be split on Iraq. They thought Clay got robbed on American Idol. This morning they were talking about the consequences of big media companies becoming bigger after the FCC throws off the chains that bind them from buying more local media properties. You see, now that it's entirely too late to change anything, we have been totally beset by opinions about the FCC rulings set for a Monday vote. Sunday newspaper editions across the country carried strong opinion pieces and features that stated the case both for and against the loosening of media ownership rules. All of which left me with this vapid feeling of "so what?" The debate on this topic has proven itself to be worthy of consumer attention. So why did most media properties wait until Memorial Day weekend to bring it to the fore? I don't believe next Monday's vote is the end of the debate. The good news is this: as the cases for and against media ownership come before Congress, as they will, a more informed American consumer will be around to judge them.

Having Said That: I do think one positive change will come from looser media ownership rules. I think ethnic interests will be better served, because serving multicultural interests is good business these days. The best way to position yourself for double digit growth in the media business these days is to own a Hispanic TV concern.

At The Buzzer: We've had some truly witty and even insightful Top Ten lists for our Friday comment section. But we're running short. I have a suggestion for this week: Top Ten Things You Love or Hate About The Media Business In The Summer. Discuss. Due by noon Thursday.