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Article: News Corp. Seeks Permission to Keep New York Post, Buy Another TV Station.

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Knight Ridder/Tribune Business News
Article date:
May 18, 2001
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By Paul D. Colford, Daily News, New York Knight Ridder/Tribune Business News

May 18--Reiterating a claim that the New York Post's financial condition "has been far from smooth sailing," News Corp. is seeking a temporary, two-year waiver of a federal law that would allow the company to keep the tabloid after buying a second local TV station.

In a filing with the Federal Communications Commission, News Corp. argues that, given the paper's "rocky financial history, a prospective purchaser will have no assurance that the Post will provide a profitable investment."

As a result, "it will likely be difficult to find an entity willing to purchase the ...

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