The Clock Ticks Toward the Fiscal Cliff

Variety’s Jill Goldsmith and Rachel Abrams write that a number of media moguls are now urging Washington lawmakers to come to a deal to avert the so-called “fiscal cliff,” saying that “principled compromise is once again possible.”

From their story: “‘This paralysis must come to an end,’ wrote the diverse group of
influential business leaders from oil giants to drug companies to
investment banks in a letter to House and Senate leaders, also signed by
DirecTV chairman Michael White; Gannett chairman Gracia Martore; Hasbro
CEO Brian Goldner; Harold McGraw III, CEO of McGraw-Hill Companies;
Glenn Britt, chairman of Time Warner Cable; and Verizon CEO Lowell
McAdam.” Also on the list: Comcast’s Biran Roberts and Viacom’s Philippe Dauman.

Already, media companies, like firms in otehr industries, have increased dividends in anticpation of new taxes in 2013.

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