(Philolosophy) Legal & Ethical Implications of Proposed Changes in FCC Regulations

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Some DWI employees have opposed proposed changes in FCC regulations that will allow for more mergers overall in the print media and TV industry, permitting consolidation of up to 45% control in a geographic market prior to the FCC prohibiting further consolidation of media assets. The Editor of Consumer Reports magazine has recently wrote that "free TV and pay TV are completely intertwined. A handful of corporations own and control the vast majority of both." The public relations and lobbying team of the first tier media giants - GE, AOL/Time Warner, Viacom, and Walt Disney Co. - have requested we support the FCC's recommended changes in Congress.

Discuss the legal and ethical implications of the ongoing debate and take a position as to whether the changes should be allowed and would they benefit DWI.


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FYI ONLY: Background history of DWI Company

Congratulations! You have just been hired by Diversified Worldwide Industries (DWI), Inc., as the Vice President of Risk Management. DWI is headquartered in West Palm Beach, Florida, and has over 150 offices in 30 countries. DWI is incorporated in the State of Delaware; its ships are flagged by Liberia and the Bahamas.
The Corporation's principal activities are grouped into the following areas:

ENVIRONMENT: Water and water treatment, waste management;
OIL & ENERGY: Exploration, production, transport, refining, wholesale marketing, alternative fuels research;
COMMUNICATIONS: Telecommunications, Internet, audiovisual activities, publishing and multimedia;
LEISURE & RECREATION: Hotels, casinos, cruise ships;
REAL ESTATE: Builds homes and manages properties in active adult, age-restricted communities;
FINANCIAL: Brokerage for capital market investments in Russia, Eastern Europe, China, and emerging markets;
MANUFACTURING: Produces, distributes, markets, exports and imports spirits and wines.
Your duties as the VP for Risk Management will require that you develop knowledge and expertise in all areas of business law, consult with corporate and outside counsel on legal matters, and advise the board as to available options to reduce or minimize the risk and liability of DWI in its ongoing activities.