Tribune Asks FCC For Continued Cross-Ownership Waivers
April 30, 2010 at 4:35 AM (PT)
The CHICAGO TRIBUNE's PHIL ROSENTHAL reports that TRIBUNE CO. is filing with the FCC to move its broadcast licenses back from debtor-in-possession status to the reorganized company once it emerges from bankruptcy protection, and the company is asking for a continuation of its existing cross-ownership waivers. ROSENTHAL quotes a memo from CEO RANDY MICHAELS and COO GERRY SPECTOR saying, "Very simply, this is a necessary step to ensure the orderly transition of our licenses to the new ownership structure that will be in place once we emerge."
TRIBUNE's only radio property, Talk WGN-A/CHICAGO, is in a grandfathered cross-ownership arrangement with the CHICAGO TRIBUNE and CW affiliate WGN-TV. The company also owns TV-newspaper combinations in NEW YORK (CW affiliate WPIX (TV) and a small retained percentage of LONG ISLAND's NEWSDAY), LOS ANGELES (CW affiliate KTLA (TV) and the LOS ANGELES TIMES), HARTFORD (FOX affiliate WTIC-TV (FOX 61), CW affiliate WTXX (THE CT), and the HARTFORD COURANT), and SOUTH FLORIDA (CW affiliate WSFL-TV/MIAMI and the SOUTH FLORIDA SUN-SENTINEL).