Friday, September 24, 2021

MURDOCH CLAIMS REGULATORS WON’T LET HIM BUY TRIBUNE

July 18, 2014 by · Leave a Comment 

Spinning off Rupert Murdoch’s newspaper business into a separate entity from his entertainment businesses may make perfect sense from an investor’s viewpoint. However, from a regulatory viewpoint, it may not. Murdoch said on Twitter Thursday night, "Sorry can’t buy Trib group or LA Times– cross-ownership laws from another age still in place." The implication is that Murdoch believes the FCC and the Justice Department might conclude that, say, owning the Los Angeles Times and L.A. TV station KTTV, which is currently owned by Fox, might not pass regulatory muster, even though the Times would be added to the new News Corp and KTTV would remain a part of 21st Century Fox. There is a double irony in that thinking. Tribune already is permitted to own the Times and KTLA in Los Angeles. And KTTV itself was once owned by the Times (those "TTV" call letters stand for "Times TV").