FCC agrees to let company own station, newspaper pending outcome of review
WASHINGTON — It’s official. The Tribune Co. has been given an extension on its temporary waiver to own both a newspaper and a TV station in the Miami market.
Tribune, which already owned the Fort Lauderdale Sun Sentinel, acquired WDZL Miami through its $1.1 billion acquisition of Renaissance Communications. The Federal Communications Commission had set a March 22 deadline for spinning off either the TV station or the newspaper. But now that the FCC is reviewing its newspaper/TV cross-ownership rules, it has agreed to allow Tribune to hold on to the outlets pending the outcome of the review. If the FCC decides to keep its cross-ownership ban on the books, Tribune will then be given an additional six months to lose one of the Miami properties. Tribune execs have said they will hold on to the newspaper and spin off the TV station.