FCC Set To OK Tribune's Continued Cross-Ownership In Several Markets
November 15, 2012 at 3:07 AM (PT)
The FCC is set to vote on relaxing media-ownership rules and signing off on TRIBUNE CO.'s common control of radio, TV stations and newspapers in cities including NEW YORK and CHICAGO, reports BLOOMBERG. The move would be the final step TRIBUNE needs to emerge from bankruptcy.
A spokesperson for TRIBUNE, TAMMY SUN, told THE TIMES, "FCC Chairman JULIUS GENACHOWSKI today asked for a vote to 'streamline and modernize' media ownership rules."
The ruling by the FCC would allow TRIBUNE to continue to be except to a 1975 rule controlling cross-ownership of media outlets.
Markets affected would include TRIBUNE's home base of CHICAGO, as well as NEW YORK, LOS ANGELES, SOUTH FLORIDA and HARTFORD.