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Sinclair CEO Welcomes FCC Ownership Cap Repeal
businessSinclair CEO Chris Ripley expressed enthusiasm about the FCC's planned repeal of the federal ownership cap on local TV stations. The change aims to ease restrictions on media consolidation. However, legal challenges are expected. Sinclair reported mixed Q2 earnings, with revenue up 7% but net losses doubling.
At a glance
- The FCC plans to vote on repealing the federal ownership cap on local TV stations.
- Sinclair CEO Chris Ripley welcomes the change, citing its potential to facilitate large-scale M&A.
- The company reported mixed Q2 earnings, with revenue up 7% and net losses doubling.
- Legal challenges to the repeal are widely expected.