What is the “right” amount of regulation (rules) in contract
negotiations between just two parties with clearly defined property rights? The quick answer is NONE. But, in the case of retransmission agreements
between cable operators and programmers, subscribers are often harmed (e.g.
programming blackouts) as a result of the inability of the parties to reach a
mutually acceptable agreement in a reasonable amount of time.
Under current Congressional authority, the FCC can step in when
there is an impasse in negotiations and consider the “totality of circumstances”
to support the process. But, should they
do more? I don’t think so. For a
regulatory body to try to codify rules to address all (most) of the possible
scenarios in these types of agreements/disputes would be difficult (impossible)
and too costly to do.
https://www.fcc.gov/news-events/blog/2016/07/14/update-our-review-good-faith-retransmission-consent-negotiation-rules
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