NBC's $2.7 billion takeover of Telemundo Communications Group Inc. took a
giant step closer to completion following the Federal Communications
Commission's approval of the deal late Wednesday.
Under the FCC's decision, NBC acquires Telemundo largely as is. However, NBC
will have to divest one of its owned-and-operated television stations in Los
Angeles and find a new owner for it within one year.
When the deal closes, NBC will have three Tinseltown-based broadcast outlets:
KNBC and Telemundo-owned Spanish-language stations KVEA and KWHY.
Telemundo CEO Jim McNamara, following the FCC decision, said KWHY will put up
the for-sale sign, ending the Spanish-TV duopoly the company briefly enjoyed in