Getting your player ready...
WASHINGTON — The proposed $8.2 billion buyout of Tribune Co. could receive a regulatory green light as soon as Friday under a plan put forth by the head of the Federal Communications Commission.
FCC Chairman Kevin Martin said Wednesday that he has circulated a plan to the other four commission members that would grant Tribune Co. waivers to allow the company to own a newspaper and a broadcast station in the same market until the commission votes on a permanent rule on such combinations.
Tribune Co., owner of the Los Angeles Times, the Chicago Tribune, nine other dailies and 23 television stations, is the subject of a buyout led by real-estate investor Sam Zell that would take the company private.
