OK on NBC-Telemundo deal
By Paige Albiniak -- Broadcasting & Cable, 4/14/2002 8:00:00 PM
NBC is allowed to acquire Telemundo but must divest one of its three Los Angeles stations. The FCC last week approved its $2 billion purchase of the Hispanic television group.
"We are pleased that the FCC has approved our acquisition of Telemundo," says an NBC spokesman, "and we look forward to completing the transaction."
In buying Telemundo last fall, NBC gained 11 full-power TV stations and 17 low-power and translator stations, for a total of 24 full-power and 19 low-power and translator stations. The FCC gave NBC permission to retain KNBC-TV and two stations it is purchasing from Telemundo, KWHY-TV and KVEA(TV), temporarily. It has a year to sell one and has decided that one will be KWHY-TV.
The FCC denied a Paxson Communications request that it forbid NBC from buying the Telemundo stations. Paxson was upset because the resulting television-station ownership would make it impossible, under current FCC rules, for NBC to eventually own Paxson, in which it has a 32% stake.
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