State Laws/Franchising

Following the Money: What Lawmakers Hold

6/27/2011 12:01 AM Eastern

WASHINGTON --The Center for Responsive Politics has
released its online accounting of the most recent
(2009) financial disclosure forms for members of
Congress. Using that data, Multichannel News has
examined the holdings the chairs of the committees
and subcommittees in both houses with primary
oversight over the cable and telecom industries.

According to that accounting, Sen. John Kerry (DMass.),
chair of the Senate Communications Subcommittee,
and Rep. Fred Upton (R-Mich.), chair of the
House Energy & Commerce Committee, both have
six-figure investments in cable, satellite and phone
businesses — as well as additional technology and
computer assets (not included below).

Kerry, chairman of the Senate Communications
Subcommittee, had the biggest position (he is the
third-richest legislator, with assets totaling between
$237,555,568 and $338,924,141). Legislators do
not have to report the exact value, but must check
a box indicating a range in which the asset falls.
Upton’s communications assets are out of a total of
$7,010,173 to $25,651,000.

The chart shows direct investments in companies
and not in funds or venture-capital fi rms that may have
telecom holdings. The bulk of the holdings of Sen. Jay
Rockefeller (D-W.Va.), chair of the Senate Communications
Subcommittee, are in trusts, with only a few individual
investments and none in communications. Rep.
Greg Walden (R-Ore.), chair of the House Communications
Subcommittee, used to own radio stations, but
has sold them.

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