Just what the world needs–more media owned by Rupert Murdoch.
Word is that Murdoch now covets the Los Angeles Times and the Chicago Tribune — the bankrupt-but-still-dominant newspapers (and websites) in the second- and third-largest media markets, where Murdoch already owns TV stations.
Under current media ownership limits, he can’t buy them. It’s illegal … unless the Federal Communications Commission changes the rules.
But according to numerous reports, that’s exactly what FCC Chairman Julius Genachowski plans to do. He’s circulating an order at the FCC to lift the longstanding ban on one company owning both daily newspapers and TV stations in any of the 20 largest media markets.