This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FCC Creates Dimmer Picture for TV Stocks

Insiders in the TV industry call Martin's proposal the "Tribune Preservation Act," since Tribune owns a number of CW affiliates that aren't in the top four, along with newspapers in markets like Chicago, Los Angeles, Miami and New York City. The rule change could therefore remove regulatory obstacles to the company's $8.2 billion buyout deal with real estate magnate Sam Zell.

Otherwise, media companies have largely disparaged the proposal as too limited and, in some cases, damaging to existing businesses. Tribune itself objected because while the proposal helps it in some markets, it could require the company to sell its newspaper or a TV station in Hartford, Conn. Moreover, it could delay the deal into 2008, triggering further payments to public shareholders.

Media General (MEG), publisher of the Richmond Times-Dispatch and Tampa Tribune, has criticized the plan for focusing on top 20 markets only, since it may have to sell a number of properties in smaller markets where it currently holds waivers to the restrictions.

The nation's largest newspaper publisher, Gannett (GCI), has also voiced opposition, since it could have a conflict in Phoenix, where it owns the Arizona Republic and the local NBC affiliate, one of the top four TV stations in the market.

"We also want [the rules] changed because it's about the future of the industry," says Gannett spokeswoman Tara Connell.
3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BLC $0.00 0.00%
GCI $30.61 -3.59%
GOOG $522.86 0.00%
SSP $22.04 0.00%
AAPL $126.00 0.00%

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs