FCC: Martin Proposes Media Ownership Waiver For Tribune; Deal Obstacle Seen Removed
By Joseph Weisenthal - Wed 28 Nov 2007 01:51 PM PST
Removing a potential obstacle to Sam Zell’s purchase of Tribune, FCC Chairman Kevin Martin has proposed granting the company a temporary waiver of media ownership regulations, reports Reuters. The proposal by Martin earlier this month prompted some concern that the company would be required to dispose of certain assets, potentially derailing the deal. A vote to ratify Martin’s proposal could come as soon as Friday, according to CNBC. Shares of Tribune are staging a sharp late-day rally.
Posted in: Companies, Tribune, Legal, FCC, Regulatory, Media, Newspapers, VC+M&A
Tags: kevin martin, sam zell
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