Tribune’s unsecured creditors’ committee backed the FCC media ownership rulemaking...

Tribune’s unsecured creditors’ committee backed the FCC media ownership rulemaking notice proposals as being “fully consistent with the expeditious grant of the Exit Applications and the Waiver Requests” the company has pending at the agency. The committee backed reinstating a rule struck down by the 3rd U.S. Circuit Court of Appeals that has a presumption for waivers of cross-ownership rules limiting common ownership in the same market of daily newspapers and radio or TV stations. Tribune’s “applications and waiver requests should be expeditiously processed to enable Tribune to emerge from bankruptcy promptly after Bankruptcy Court confirmation of the reorganization plan,” the committee said in replies Tuesday in docket 09-182 (http://xrl.us/bm38mx). Others also commented. (See separate report in this issue.)