FCC Court Loss Could Quash TV Broadcast Consolidation

Television broadcast stocks are lower today on concern that a potential FCC loss in an ownership-limit case could tie up future deals or stop them in their tracks.

D.C. Circuit appeals court judges grilled the FCC today about an ownership rule change that’s needed for Sinclair to acquire Tribune Media. The national holdings limit rests at 39%, but that rule -- the UHF discount -- lets some companies count only part of their audience, skirting the threshold.