The Federal Communications Commission, which monitors the ownership of media companies that use the agency's licenses, also has eyes on a bankrupt communications company's moves throughout a chapter 11 case, Dow Jones Daily Bankruptcy Review reported today. Many bankruptcies in the communications industry involve the sale of a company or — at the very least — a major ownership shift that ultimately needs the agency's approval. The dynamic can create tension in a telecom bankruptcy case, said a panel of bankruptcy experts and telecommunication lawyers yesterday at ABI’s 32nd Annual Spring Meeting.
