TELECOMMUNICATIONS

FCC ends decades-old TV, radio station rule

Federal regulators have voted to end a long-standing rule covering radio and television stations, in a move that could ultimately reshape the nation's media landscape.

The regulation, adopted almost 80 years ago, requires broadcasters to have a physical studio in or near the areas where they have a license to transmit TV or radio signals. Known as the "main studio rule," the regulation ensured that residents of a community could have a say in their local broadcast station's operations.

Tuesday's vote by the Federal Communications Commission lifts that requirement. With the rise of social media, the agency said, consumers now have other ways to get in touch with their local broadcasters.

"Additionally, technology allows broadcast stations to produce local news even without a nearby studio," FCC Chairman Ajit Pai said.

But that same technological capability could prompt large media titans to take over small, local TV and radio stations, turning them into megaphones blasting content developed for a national audience rather than a local one, critics say.

Supporters of the FCC's decision to eliminate the rule, including the National Association of Broadcasters, argue that it imposes unreasonable costs on station owners and that the savings from no longer operating a physical studio could be funneled into creating more local TV and radio programming.

— Brian Fung

EMPLOYMENT

Health, energy among fastest-growing jobs

Solar-panel installers, home health aides, statisticians and software developers are among the 15 fastest-growing occupations in the United States and reflect the needs of an aging population, a shift to clean energy and demand for science, technology and math talent.

The number of solar photovoltaic installers, who earned a median annual wage of $39,240 in 2016, is projected to more than double from 2016 to 2026, according to the Labor Department's biennial employment projections released Tuesday.

Eight of the fastest-growing occupations are in health care, with median salaries in 2016 ranging from $21,920 for personal-care aides to $101,480 for physician assistants.

The highest paid on the list — mathematicians — earned a median $105,810 last year.

The most rapidly declining jobs included typists, watch repairers and postal workers.

— Bloomberg News

Also in Business

Lord & Taylor is selling its flagship store in Manhattan to the office space-sharing company WeWork. The nearly 100-year-old building will be converted to WeWork headquarters, with less than a quarter of the space remaining for a Lord & Taylor store. The $850 million sale announced Tuesday is part of a plan by Lord & Taylor owner Hudson's Bay to pare down debt and reinvigorate sales.

AT&T quarterly results missed Wall Street estimates as the No. 2 U.S. wireless carrier lost video subscribers to traditional and online TV competitors, and fewer of its existing customers upgraded their devices ahead of Apple's launch of the iPhone X. AT&T said it lost 85,000 U.S. video subscribers in the quarter and reported 900,000 fewer handset equipment upgrades than in the same period a year ago. The company reported net income of $3 billion, or 49 cents a share, for the quarter ended Sept. 30, down from $3.3 billion, or 54 cents a share, in the year-earlier period. Revenue was $39.7 billion, down from $40.9 billion in the same period last year. Analysts had expected revenue of $40.1 billion, on average.

McDonald's said Tuesday that it will launch a new value-priced menu nationally next year. The lineup will offer items for $1, $2 and $3, the company said. The rollout will provide a long-awaited replacement to the popular Dollar Menu. Almost 100 percent of franchisees have signed up to participate in the new value program, McDonald's said.

— From news reports

Coming today

8:30 a.m.: Commerce Department releases durable goods for September.

10 a.m.: Commerce Department releases new-home sales for September.

Earnings: Boeing, Coca Cola, Visa.