Tribune to Put Local TV's WNEP Scranton, Norfolk Stations Up for SaleKeeping cross-ownership in mind as broadcaster awaits close of Local TV deal 7/29/2013 02:55:17 PM Eastern
Tribune plans to sell pieces of its pending Local TV LLC
acquisition, WNEP Scranton and WTKR-WGNT Norfolk, after the acquisition closes
to remain in compliance with FCC regulations.
The company agreed to acquire the Local TV LLC group for
$2.7 billion. The deal is expected to close by the end of the year.
Tribune said in a statement: "In light of the FCC's
regulations regarding cross-ownership, we began taking the steps necessary to
ensure the company is in compliance in two relatively small markets where, upon
the closing of our acquisition of Local TV, we would otherwise own both a
television station and a newspaper. We'll let the information contained in the
filings speak for itself."
The Pennsylvania newspaper Morning Call previously reported Tribune's plans.
ABC affiliate WNEP is a ratings monster in