Media CEOs, CFOs held accountable - Broadcasting & Cable

Media CEOs, CFOs held accountable

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The CEOs and chief financial officers of big media companies are among the
executives having to file statements with the Securities and Exchange Commission
promising that, 'to the best of their knowledge,' their companies' quarterly and
annual reports do not contain incorrect statements, omissions or other
inaccuracies.

The policy is part of a new corporate-accountability initiative to ensure
that top executives are held accountable for the sort of accounting practices
that rocked Enron Corp., WorldCom Inc., Adelphia Communications Corp. and the
financial markets.

The SEC posted a list Tuesday of the 947 companies with CEOs and CFOs who
must sign, under oath, and return the pledges by Aug. 14. The list comprises
publicly traded companies with more than $1.2 billion in revenues in their last
fiscal year.

Included were media companies Clear Channel Communications Inc., The Walt
Disney Co., AOL Time Warner Inc., Viacom Inc., Adelphia Communications Corp.,
A.H. Belo Corp., General Electric Co., Cablevision Systems Corp., Charter
Communications Inc., Comcast Corp., Cox Communications Inc., EchoStar
Communications Corp., Gemstar-TV Guide International Inc., Scientific-Atlanta
Inc., The Washington Post Co. and The New York Times Co.

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