FCC Helps Out TribCo Sale

Finally, some movement on the TribCo/Cubs sale.

Tribune Co. said late Friday that the Federal Communications Commission — in a move that could play a crucial role in the company’s planned $8.2 billon leveraged buyout — has approved “cross-ownership” waivers in markets where the company owns both a television station and a newspaper.
Tribune said its going-private transaction is “expected to close by year-end,” following satisfaction of certain remaining closing conditions.

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