FCC OKs Clear Channel TV Sale
November 30, 2007 at 5:44 AM (PT)
The FCC has conditionally approved the sale of CLEAR CHANNEL's TV stations to NEWPORT TELEVISION LLC, giving the buyer a six-month temporary waiver of ownership and cross-ownership rules to give PROVIDENCE EQUITY PARTNERS, part-owner of NEWPORT, time to divest either its interest in UNIVISION-owned stations or its interest in the newly-acquired stations in seven markets. The company must also spin off one of the two stations it acquired in JACKSONVILLE.
An additional challenge to the deal by BUCKLEY BROADCASTING, based on the earlier CLEAR CHANNEL acquisition of ACKERLEY and the LMA-based TV duopoly held by CLEAR CHANNEL in MONTEREY-SALINAS, was also rejected by the Commission.