LAT

FCC grants Tribune waiver for KTLA and LAT

Federal regulators gave the go-ahead for Tribune Corp. to continue operating TV stations and newspapers in five markets where it holds both, removing a major obstacle to the Chicago company finally getting out of bankruptcy. In addition to Los Angeles, where Tribune owns Channel 5 and the LA Times, the FCC waivers apply to New York, Chicago, South Florida and Hartford. The Los Angeles waiver is for a year. From the LAT:

The waivers allow the agency to transfer TV and radio station licenses in those markets to Tribune's new owners, a group led by senior creditors Oaktree Capital Management, Angelo Gordon & Co. and JPMorgan Chase & Co.

“We are extremely pleased with today’s action by the FCC,” said Eddy Hartenstein, Tribune’s chief executive officer. “This decision will enable the company to continue moving forward toward emergence from Chapter 11, a process we expect to complete over the course of the next several weeks.”

The company already had waivers in the five markets, but the FCC must approve the transfer of broadcast licenses from one owner to another.


More by Kevin Roderick:
LA Observed Notes: 60 Minutes, selling the Coliseum and more
Gil Cedillo, Nick Melvoin win LA runoffs*
LA Observed Notes: Baca goes down, LAX shuffle, media moves
LA Observed Notes: Big TV news, media moves, obits and more
LA Observed Notes: Writers on the verge, Fox, the riots and more
Recent LAT stories on LA Observed:
LA Times editor gets all serious: 'How could truth become so devalued?'
'Why Trump Lies' is next part of LA Times series
LA Times reporters show the way
LA Times staff warned not to join women's marches
Read the LA Times response to Los Angeles Magazine's piece
LA Times hires new sheriff's beat reporter
LA Times says pro-internment letters should not have run
LA Magazine says editor Davan Maharaj is what's wrong with the LA Times*


 

LA Observed on Twitter