Revised Newspaper/Broadcast Cross-Ownership Rule

On February 4, 2008, the Federal Communications Commission ("FCC") released its Report and Order and its Order on Reconsideration ("Order") revising the newspaper/broadcast crossownership rule so as to allow a combination of a newspaper and one television station or one radio station in the 20 largest U.S. markets, subject to satisfaction of specific criteria. The FCC declined to revise, relax or eliminate the other FCC ownership rules relating to the television or radio broadcast markets, and let stand the existing local television duopoly rule, the local radio ownership rules, the local radiotelevision cross-ownership rule and the dual network rule currently in place.