ATLANTA—Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acquire KXLT-TV (FOX) in the Rochester, Minnesota, television market, where Gray already owns KTTC-TV (NBC).
Gray reported that the ruling represents the first FCC approval of a new combination of two full-power, top-four ranked, same-market television stations in over five years. Importantly, the FCC’s Media Bureau’s grant and written decision come just two months after the parties applied for approval of the transaction, which appears to represent the shortest processing time for a duopoly waiver in Commission history.
“Gray appreciates the FCC Media Bureau’s careful consideration of our waiver request and its recognition of the marketplace in which today’s local television stations compete for viewers and advertisers,” said Kevin Latek, Gray’s chief legal and development officer. “We look forward to leveraging the combined resources of KTTC-TV and KXLT-TV to improve service for viewers in the Rochester market.”
The ruling comes at a time when broadcasters have hoped the FCC will reduce their regulatory burdens and adopt a more lenient attitude towards mergers. It also comes on the same day that the FCC has launch a massive deregulatory effort.
