New York Post: Ajit Pai becomes latest ex-FCC chairman to join a private equity firm
Former FCC Chairman Michael Copps found the news disappointing. He said commissioners tend to be more sympathetic to private equity firms and corporations when they are commissioners if they know that they might also, one day, become their future employers.
“We have a serious revolving door problem at the FCC,” Copps told The Post. “This is not encouraging.”
Private equity firms often put too much debt on media companies and do not have the public interest in mind, according to Copps. He raised the present example of Alden Global Capital buying up many of the country’s newspapers and firing reporters.
Two of the four FCC chairs who joined private equity firms since 2001 were Democrats and two Republicans so the revolving door is not about party affiliation, he said.