An analyst said an FCC UHF ownership discount...
An analyst said an FCC UHF ownership discount review, which “might take some time,” may “undergo further delay given incoming personnel” of Chairman nominee Tom Wheeler and Michael O'Rielly, a Republican who President Barack Obama said last week he will…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
nominate to be the agency’s fifth member. News that an NPRM on reducing the discount is circulating (CD Aug 6 p1) is causing “uncertainty” among investors in publicly traded broadcast companies, with some of their shares falling Tuesday, wrote Wells Fargo’s Marci Ryvicker. “Given that this pending proposal is not in response to M&A, we do not anticipate the FCC holding up subsequent deals should they arise,” she wrote of mergers and acquisitions. “We don’t think the FCC wants to set precedent based on one or two transactions.” Most TV station owners are “WELL BELOW the 39 percent coverage limit” of nationwide reach, Ryvicker wrote, citing LIN at 11 percent, Nexstar at 14 percent and Gray Television at 6 percent. At Tuesday’s stock market close, Gray fell 3.6 percent to $7.59, LIN fell 3.6 percent to $15.15 and Nexstar fell 3.9 percent to $35.49, and some stocks had fallen by a larger percentage earlier in the day.