Oct 6, 2008 6:40 pm US/Eastern
FTC Clears Way For WTVJ Sale
WASHINGTON, D.C. (CBS4) ―
The sale of historic South Florida TV station WTVJ to the Post Newsweek
corporation came took a step closer to reality Monday, when the Federal
Trade Commission (FTC) cleared the sale, Broadcasting and Cable magazine reported. The deal must still gain
approval from the Federal Communications Commission before the station
changes hands.
The news came in the form of an 'early termination notice' released by the FTC, a procedural move taken as part of the anti-trust review which had been undertaken by the FTC and the Department of Justice. Normally, such reviews take a fixed length of time, but can be terminated early if requested, as was done in this case.
By granting the request, the FTC is indicating that neither it nor the Justice Department plan to take against the sale under anti-trust laws.
Post-Newsweek and NBC Universal announced the sale of Florida's first television station last July, and had indicated they hoped to have the deal completed by the end of the year.
The FTC clearance is an important hurdle, but growing objection to the sale has resulted in complaints to the FCC, which must approve any sale, and to members of congress.
Opponents of the deal say it will have a negative effect on the community and silence an important journalistic voice in the community. Some opponents also object to the expected loss of jobs when the two stations move under single ownership, although Post-Newsweek has said nothing official about layoffs or firings.
If completed, the sale will give Post-Newsweek 2 stations in South Florida. The company already owns WPLG-10, an ABC affiliate. Post Newsweek made the purchase offer after low ratings at WTVJ left it 6th in ratings in the Miami-Ft. Lauderdale market. FCC rules prohibit companies from owning more than one station in the top 4.
NBC Universal will continue to own WSCV-Telemundo, which ironically is one of the Spanish-language stations that bested WTVJ in the ratings, permitting the deal.
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