FCC regulations hinder Tribune deal, stock plummets
By Erina Lin, Monday 22 October 2007 at 19:33 :: Newspaper Data :: #736 :: rss
Tribune Co. stock on Friday dropped the hardest in five years, after the Los Angeles Times reported that the planned $8 billion purchase by Sam Zell is in peril.
The Federal Communications Commission is considering possible changes in media-ownership regulations, which may cause the Tribune deal to not close on time, the Times stated.
“Tribune needs a waiver against owning a newspaper and TV station in the same market. (It owns KTLA and the Times). The FCC plans to vote on eliminating the ban on Dec. 18,” the Times article stated.
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