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Tribune
Company Statement on Federal Court Ruling
CHICAGO,
June 24, 2004 -- Tribune
Company Chairman, President and Chief Executive Officer Dennis
FitzSimons issued the following statement regarding today's
ruling by the U.S. Court of Appeals for the Third Circuit
in Philadelphia:
"Our reaction to today's court ruling
is mixed.
We are pleased that the U.S. Court of Appeals recognized
the right of the FCC to lift the ban on newspaper/broadcast
cross ownership. We're also happy that the court spoke
positively about the fact that newspaper/broadcast cross
ownership can actually promote localism.
But we are extremely disappointed that the court failed
to rule on the substance of the media ownership regulations
put in place a year ago. It is hard to understand, given
the voluminous record compiled during several years of
hearings and testimony, how further study and explanation,
which inevitably means further delay, will serve the
best interests of the public.
There is no doubt that the vast array of media choices
available to the American public is the envy of the world.
The combination of a free over-the-air universally available
television service and a pay system provided by cable
and satellite has created a vibrant market. But to insure
this continues, all sectors of the media landscape have
to compete on a level playing field. The government should
no longer handicap newspapers and free over-the-air broadcasters
while cable and satellite programmers go unregulated.
It's our view that all consumers
and companies in the media sector will benefit from
a quick resolution to the controversy surrounding the
FCC's revised ownership rules. What our industry needs
now is clarity, not further delay -- just establish
the rules and let us compete!"
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TRIBUNE (NYSE: TRB) is one of the country’s
premier media companies, operating businesses in broadcasting
and publishing. It reaches more than 80 percent of U.S. households
and is the only media organization with television stations,
newspapers and websites in the nation’s top three markets.
In publishing, Tribune operates 14 leading daily newspapers
including the Los Angeles Times, Chicago Tribune, Newsday
and Spanish-language Hoy, plus a wide range of targeted publications.
The company’s broadcasting group operates 26 television
stations; Superstation WGN on national cable; WGN-AM in Chicago;
and the Chicago Cubs baseball team. Popular news and information
websites complement Tribune’s print and broadcast properties
and extend the company’s nationwide audience. |
