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Parent Company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group. In some jurisdictions around the world, holding companies are called parent companies, which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders, and can permit the ownership and control of a number of different companies. ''The New York Times'' also refers to the term as ''parent holding company.'' Holding companies are also created to hold assets such as intellectual property or trade secrets, that are protected from the operating company. That creates a smaller risk when it comes to litigation. In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as ...
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Corporate Group
A corporate group or group of companies is a collection of parent and subsidiary corporations that function as a single economic entity through a common source of control. These types of groups are often managed by an account manager. The concept of a group is frequently used in tax law, accounting and (less frequently) company law to attribute the rights and duties of one member of the group to another or the whole. If the corporations are engaged in entirely different businesses, the group is called a conglomerate. The forming of corporate groups usually involves consolidation via mergers and acquisitions, although the group concept focuses on the instances in which the merged and acquired corporate entities remain in existence rather than the instances in which they are dissolved by the parent. The group may be owned by a holding company which may have no actual operations. In Germany, where a sophisticated law of the " concern" has been developed, the law of corporate gr ...
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Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headqu ...
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Atlanta
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 living within the city limits, it is the eighth most populous city in the Southeast and 38th most populous city in the United States according to the 2020 U.S. census. It is the core of the much larger Atlanta metropolitan area, which is home to more than 6.1 million people, making it the eighth-largest metropolitan area in the United States. Situated among the foothills of the Appalachian Mountains at an elevation of just over above sea level, it features unique topography that includes rolling hills, lush greenery, and the most dense urban tree coverage of any major city in the United States. Atlanta was originally founded as the terminus of a major state-sponsored railroad, but it soon became the convergence point among several ...
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Media Market
A media market, broadcast market, media region, designated market area (DMA), television market area, or simply market is a region where the population can receive the same (or similar) television and radio station offerings, and may also include other types of media such as newspapers and internet content. They can coincide or overlap with one or more metropolitan areas, though rural regions with few significant population centers can also be designated as markets. Conversely, very large metropolitan areas can sometimes be subdivided into multiple segments. Market regions may overlap, meaning that people residing on the edge of one media market may be able to receive content from other nearby markets. They are widely used in audience measurements, which are compiled in the United States by Nielsen Media Research. Nielsen measures both television and radio audiences since its acquisition of Arbitron, which was completed in September 2013. Markets are identified by the largest ...
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IHeartMedia
iHeartMedia, Inc., formerly CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc. (formerly Clear Channel Communications, Inc.), a company founded by Lowry Mays and Red McCombs, B. J. "Red" McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners through a leveraged buyout in 2008. As a result of this buyout, Clear Channel Communications, Inc., began to operate as a wholly owned subsidiary of CC Media Holdings, Inc. On September 16, 2014, CC Media Holdings, Inc. was rebranded iHeartMedia, Inc., and Clear Channel Communications, Inc., became iHeartCommunications, Inc. Overview iHeartMedia, Inc. specializes in radio broadcasting, podcasting, Digital media, digital and live events through Division (business), division iHeartMedia (sans "Inc." suffix; formerly Clear Channel Media and Entertainment, Clear Channel Radio, et al.) and subsidiary iHeartMedia an ...
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Citicasters
The Taft Broadcasting Company (also known as Taft Television and Radio Company, Incorporated) was an American media conglomerate based in Cincinnati, Ohio. The company was rooted in the family of William Howard Taft, the 27th President of the United States. In 1879, William Howard's brother, Charles Phelps Taft, purchased two afternoon newspapers in Cincinnati, ''The Times'' and ''The Cincinnati Daily Star'', merging them into the ''Cincinnati Times-Star'' in 1880. It was during the tenure of the merged paper's second publisher, Hulbert Taft Sr., son of Charles and William Howard's half-brother, Peter Rawson Taft II, that the newspaper also became involved in broadcasting. The company was the owner of such major media and entertainment properties as Hanna-Barbera Productions, Hanna-Barbera Pty, Ltd./Taft-Hardie Group Pty. Ltd., Worldvision Enterprises, Ruby-Spears Productions, KECO Entertainment and many television and radio stations. It also owned 50% of CIC Video's Au ...
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Jacor
Jacor Communications was a media corporation, existing between 1987 and 1999, which owned many radio stations in the United States. In 1998, Jacor was purchased by Clear Channel Communications, now iHeartMedia, for $2.8 billion. Jacor Communications began with three religious stations and went on to acquire dozens of radio stations between 1992 and its sale to Clear Channel in 1999. It also owned a few television stations, including WKRC-TV in Cincinnati. History Jacor Communications was founded by Terry Jacobs. Jacobs incorporated Jacor Communications in 1979 and purchased three religious stations in 1981. In June 1989, Jacor purchased Telesat Cable, a Northern Kentucky cable provider, for $5 million, which it later sold in May 1994. In 1993, an investor named Sam Zell paid $80 million from the Zell Chillmark fund to purchase controlling interest in Jacor. In 1992, the Federal Communications Commission increased the number of radio stations a single company could own in one ...
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Broadcast License
A broadcast license is a type of spectrum license granting the licensee permission to use a portion of the radio frequency spectrum in a given geographical area for broadcasting purposes. The licenses generally include restrictions, which vary from band to band. Spectrum may be divided according to use. As indicated in a graph from the National Telecommunications and Information Administration (NTIA), frequency allocations may be represented by different types of services which vary in size. Many options exist when applying for a broadcast license; the FCC determines how much spectrum to allot to licensees in a given band, according to what is needed for the service in question. The determination of frequencies used by licensees is done through frequency allocation, which in the United States is specified by the FCC in a table of allotments. The FCC is authorized to regulate spectrum access for private and government uses; however, the National Telecommunications and Informatio ...
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Media Conglomerate
A media conglomerate, media group, or media institution is a company that owns numerous companies involved in mass media enterprises, such as music, television, radio, publishing, motion pictures, theme parks, or the Internet. According to the magazine '' The Nation'', "Media conglomerates strive for policies that facilitate their control of the markets around the world." Terminology A conglomerate is a large company composed of a number of smaller companies ( subsidiaries) engaged in generally unrelated businesses. Some media conglomerates use their access in multiple areas to share various kinds of content such as: news, video and music, between users. The media sector's tendency to consolidate has caused formerly diversified companies to appear less diverse to prospective investors in comparison with similar companies that are traded publicly and privately. Therefore, the term media group may also be applied, however, it has not yet replaced the more traditional term. C ...
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Broadcasting
Broadcasting is the distribution of audio or video content to a dispersed audience via any electronic mass communications medium, but typically one using the electromagnetic spectrum ( radio waves), in a one-to-many model. Broadcasting began with AM radio, which came into popular use around 1920 with the spread of vacuum tube radio transmitters and receivers. Before this, all forms of electronic communication (early radio, telephone, and telegraph) were one-to-one, with the message intended for a single recipient. The term ''broadcasting'' evolved from its use as the agricultural method of sowing seeds in a field by casting them broadly about. It was later adopted for describing the widespread distribution of information by printed materials or by telegraph. Examples applying it to "one-to-many" radio transmissions of an individual station to multiple listeners appeared as early as 1898. Over the air broadcasting is usually associated with radio and television, th ...
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Energy Policy Act Of 2005
The Energy Policy Act of 2005 () is a federal law signed by President George W. Bush on August 8, 2005, at Sandia National Laboratories in Albuquerque, New Mexico. The act, described by proponents as an attempt to combat growing energy problems, changed US energy policy by providing tax incentives and loan guarantees for energy production of various types. The most consequential aspect of the law was to greatly increase ethanol production to be blended with gasoline. The law also repealed the Public Utility Holding Company Act of 1935, effective February 2006. Provisions General provisions * the Act increases the amount of biofuel (usually ethanol) that must be mixed with gasoline sold in the United States to by 2006, by 2009 and by 2012; two years later, the Energy Independence and Security Act of 2007 extended the target to by 2022. * Under an amendment in the American Recovery and Reinvestment Act of 2009, Section 406, the Energy Policy Act of 2005 authorizes ...
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Public Utility Holding Company Act Of 1935
The Public Utility Holding Company Act of 1935 (PUHCA), also known as the Wheeler-Rayburn Act, was a US federal law giving the Securities and Exchange Commission authority to regulate, license, and break up electric utility holding companies. It limited holding company operations to a single state, thus subjecting them to effective state regulation. It also broke up any holding companies with more than two tiers, forcing divestitures so that each became a single integrated system serving a limited geographic area. Another purpose of the PUHCA was to keep utility holding companies engaged in regulated businesses from also engaging in unregulated businesses. The act was based on the conclusions and recommendations of the 1928-35 Federal Trade Commission investigation of the electric industry. On March 12, 1935, President Franklin D. Roosevelt released a report he commissioned by the National Power Policy Committee. This report became the template for the PUHCA. The political batt ...
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