Murdoch Says Outdated Laws Bar Him From Buying Tribune
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Rupert Murdoch said antiquated media ownership laws are preventing him from getting his hands on Tribune Co., the owner of the Los Angeles Times.
“Sorry can’t buy Trib group or LA Times - cross-ownership laws from another age still in place,” Murdoch wrote in a tweet yesterday, referring to U.S. government restrictions that forbid ownership of TV stations and newspapers in the same market. Murdoch’s 21st Century Fox Inc. owns two Los Angeles TV stations and would need a waiver to have a newspaper there.