Tribune deal is mired in FCC rift over cross-ownership rules

TRIBUNE DEAL IS MIRED IN FCC RIFT OVER CROSS-OWNERSHIP RULES
[SOURCE: Los Angeles Times, AUTHOR: Jim Puzzanghera]
The $8.2-billion deal to take Tribune Co. private has become entangled in a newly inflamed debate over media ownership rules at the Federal Communications Commission that could pose problems for the transaction. Tribune needs FCC waivers to complete the deal because it owns newspapers and TV stations in Los Angeles and four other markets in violation of rules that prevent such cross-ownership. Tribune owns the Los Angeles Times and KTLA-TV Channel 5 as well as other newspapers, TV stations and the Chicago Cubs baseball team. Now, trying to capitalize on Tribune's push to complete the deal by year's end and its support from some key lawmakers, FCC Chairman Kevin J. Martin has indicated that he won't grant any waivers pending a vote on major revisions to the commission's media ownership rules. "He's tying the fate of the Tribune deal that he wants to a large proceeding on media ownership," said FCC Commissioner Michael J. Copps, a Democrat who opposes loosening the rule. "To say we have to change the media ownership rules so we can get the Tribune deal done does not strike me as . . . a good way to make public policy."
http://www.latimes.com/business/printedition/la-fi-fcc19oct19,1,7137960....
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