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FCC OKs TV ownership rule that should ease buyouts

Apr. 20, 2017 2:30 PM ETSinclair, Inc. (SBGI) StockSBGI, NXST, FOXA, FOX, TRCO, PARABy: Jason Aycock, SA News Editor10 Comments
  • The FCC has voted 2-1 to restore the "UHF Discount," a move that will ease retrictions on station ownership -- and make more acquisitions possible among broadcast owners.
  • That's likely to have its impact on big station owners, including Sinclair Broadcast Group (NASDAQ:SBGI), which is reportedly considering a bid for Tribune Media (TRCO -0.5%) in the high 30s per share. Other station owners: CBS (NYSE:CBS), Fox (FOX, FOXA), Nexstar Media Group (NASDAQ:NXST).
  • The vote came along party lines, with sole Democrat Mignon Clyburn dissenting. The UHF Discount, which allows companies to count half the coverage reach of their UHF stations, is a holdover from the pre-digital TV era, when UHF and VHF signals were different, she says.
  • “The commission just wrapped up and put a bow on a huge gift for those large broadcasters, with ambitious dreams of more consolidation,” Clyburn said. “Now I am not a betting woman, but mark my word: This order will have an immediate impact, on the purchase and sale of television stations.”
  • via Ted Johnson at Variety

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