Fred Upton: Media investor
By BroadCasting & Cable Staff -- Broadcasting & Cable, 3/18/2001 7:00:00 PM
Rep. Fred Upton (R-Mich.), the new chairman of the House Telecommunications and Internet Subcommittee, may put his telecommunications and media assets into a blind trust. As required by House rules, he reported last May that he holds millions of dollars of stocks in such companies as AT&T Corp., The Walt Disney Co. and SBC Communications. He received most when he was young, he says. "Disney only owned Disneyland when I got my first shares." Should he set up the blind trust, he would be the only member of the House to have one. It would prevent his making buy-sell decisions. Upton says the blind trust is a safety net. Most of his assets are in a family trust he can't touch anyway until his mother passes away, he says, and "she is in good health."
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