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Article: FCC Close to Approving News Corp. Deal, Sources Say
- Article from:
- The Washington Post
- Article date:
- July 21, 2001
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Federal regulators are close to approving News Corp.'s $5.35
billion purchase of Chris-Craft Industries Inc.'s 10 television
stations -- by waiving government rules that would have prevented the
deal, sources said.
The purchase was first announced last August, but Democrats on the
Federal Communications Commission have resisted approving the deal
out of concern it would allow media mogul Rupert Murdoch's company to
exceed agency limits on the reach of media companies.
The agency was still in the process of voting yesterday, but
sources said they expect the deal to be approved as early as Monday
in a 3 to 2 vote along party lines. The FCC is likely to grant News
Corp. only temporary waivers ...