Emerging from scandal, Rupert Murdoch, chairman of News Corp., was reported Friday to be looking to buy two newspapers, the Los Angeles Times and Chicago Tribune from a company with struggles of its own. But he’s not buying yet! Murdoch is reportedly waiting for the Tribune Co., which owns both papers, to emerge from bankruptcy—which could happen by the end of the year. However, there could be trouble: FCC regulations prevent ownership of a newspaper and a TV station in the same market, and he already owns Fox stations in both Chicago and L.A.
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