WGN Putting A For Sale Sign Out?
November 16, 2007 at 6:37 AM (PT)
If buying the CUBS is a little too expensive for you, there's another CHICAGO institution you might be able to pick up in a TRIBUNE CO. fire sale, writes ROBERT FEDER in THE CHICAGO SUN TIMES. The prospect of top-rated News/Talk WGN-A going on the block moved a step closer to reality this week with news that FCC chief KEVIN MARTIN has proposed the sale as a condition of allowing TRIBUNE CO. to own both WGN-Channel 9 and its newspaper here under SAM ZELL.
WGN VP/GM TOM LANGMYER declined to comment THURSDAY. But he previously testified to the FCC that forcing a sale could rob the station of its unique localism after 83 years in TRIB hands. Industry sources estimated that WGN, which led the market in billing $48.4 million last year, could fetch close to $300 million.