Thursday, June 05, 2003

FIRST CROSS-OWNERSHIP MediaNews Group exercises an option to buy the Fairbanks, Alaska NBC affiliate, where it already owns the newspaper.
William Dean Singleton's MediaNews Group Inc., which publishes The Fairbanks (Alaska) Daily News-Miner, has triggered its three-year-old option to buy KTVF-TV, a NBC affiliate in Fairbanks owned by Clear Channel Communications Inc. The option had been contingent on an end to the cross-ownership restriction on the common ownership of a newspaper and broadcast property in the same market.
Look for more similar options that were contingent on a change of ownership rules to be exercised in the coming days and months.

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