S 467 RS, Expeditious Action on Telecommunications Merger Act (previously titled the Antitrust Merger Review Act).
Re: setting time limits for the FCC to act on telecom mergers.
Sponsors: Mike DeWine (R-OH) and Herb Kohl (D-WI).
Approved by the Senate Judiciary Committee on July 1, 1999.
Source: Library of Congress.

See also, Tech Law Journal Summary of Bills Pertaining to Telecom Antitrust Merger Reviews in the 106th Congress.

Calendar No. 192

To restate and improve section 7A of the Clayton Act, and for other purposes.

IN THE SENATE OF THE UNITED STATES

Mr. DEWINE (for himself and Mr. KOHL) introduced the following bill; which was read twice and referred to the Committee on the Judiciary

Reported by Mr. HATCH, with an amendment and an amendment to the title

To restate and improve section 7A of the Clayton Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Expeditious Action on Telecommunications Merger Act'.

SEC. 2. SCHEDULE FOR CONSIDERATION BY FEDERAL COMMUNICATIONS COMMISSION OF CERTAIN APPLICATIONS FOR TRANSFERS OF LICENSES OR LINES.

(a) IN GENERAL- The consideration by the Federal Communications Commission of any application for a transfer of license, or for the acquisition and operation of lines, that is associated with an acquisition, whether direct or indirect, of voting securities or assets shall be governed by the schedule set forth in this section.

(b) DEADLINE FOR CONSIDERATION-

(1) CERTAIN APPLICATIONS-

(A) IN GENERAL- In the case of an application described in subparagraph (B), the Commission shall complete the consideration of the application not later than 180 days after the date of the receipt of the application by the Commission unless the Commission, by majority vote of the members of the Commission, extends the period of consideration of the application by not more than 60 additional days.

(B) COVERED APPLICATIONS- An application described in this subparagraph is an application referred to in subsection (a) as a result of which the acquiring person would hold--

(i) 15 percent or more of the voting securities or assets of the acquired person; or

(ii) an aggregate total amount of the voting securities and assets of the acquired person in excess of $15,000,000.

(2) OTHER APPLICATIONS- In the case of any application referred to in subsection (a) other than an application covered by paragraph (1), the Commission shall complete the consideration of the application not later than 90 days after the date of the receipt of the application by the Commission unless the Commission, by majority vote of the members of the Commission, extends the period of consideration of the application by not more than 30 additional days.

(c) FAILURE TO ACT- If the Commission does not approve, approve with modifications, or deny an application for a transfer of license, or for the acquisition and operation of lines, by the date provided for the consideration of the application under paragraph (1) or (2) of subsection (b), whichever applies, the application shall be deemed approved by the Commission as of such date. Approval under this subsection shall be without modifications.

(d) CONSTRUCTION- No provision of this section may be construed to enhance, limit, or modify in any way--

(1) the standards utilized by the Commission under the Communications Act of 1934 (47 U.S.C. 151 et seq.) in considering or approving transfers of licenses, or the acquisition and operation of lines, covered by an application referred to in subsection (a); or

(2) the authority of the Commission under that Act to impose conditions upon the transfer of licenses, or the acquisition and operation of lines, pursuant to such consideration or approval.

(e) APPLICABILITY-

(1) IN GENERAL- Except as provided in paragraph (2), this section shall take effect 30 days after the date of the enactment of this Act, and shall apply with respect to applications referred to in such subsection (a) that are submitted to the Commission on or after that date.

(2) PENDING APPLICATIONS- If an application described by subsection (a) is pending before the Commission as of the date of the enactment of this Act, subsections (c) and (d) shall apply with respect to the application as if the application had been submitted to the Commission on the date of the enactment of this Act.

Amend the title so as to read: `A bill to establish a schedule for the review by the Federal Communications Commission of certain applications for transfers of licenses, or for the acquisition and operation of lines, and for other purposes.'.

Calendar No. 192

106th CONGRESS

1st Session

S. 467

A BILL

To restate and improve section 7A of the Clayton Act, and for other purposes.

July 1, 1999

Reported with an amendment and an amendment to the title

END