This just in:
The website TVNewsday reports that the Federal Communications Commission has approved the sale of 8 FOX TV owned and operated stations to Local TV, LLC.
The $1.1 billion dollar deal includes a number of FOX’s non-top-10 market owned stations, including WJW/8 “FOX 8” in Cleveland. FOX will hang onto its largest market stations, and those with duopoly situations.
Local TV, LLC is headed by former Jacor radio executive Bobby Lawrence. And former Local TV and Jacor/Clear Channel Radio head Randy Michaels, now Tribune’s top broadcasting executive, heads another company that is (or will be) providing broadcast management services to both Tribune and Local TV’s stations.
More later…
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