Cooke Gets OK to Pursue Bid for Multimedia
Jack Kent Cooke, the Washington Redskins owner, was given Federal Communications Commission permission Friday to appoint a trustee and proceed with his attempt to get control of media conglomerate Multimedia Inc.
Cooke asked the FCC for approval of the appointment of former Sen. Eugene McCarthy as a trustee to start collecting Multimedia stock. McCarthy would hold the stock until the commission acts on a Cooke application to take control of Multimedia’s five TV stations and 10 radio stations.
By appointing McCarthy, Cooke said earlier this month, he “will not involve himself in the operations or management of Multimedia during the period of trusteeship.”
Cooke has already purchased about 10% of Multimedia’s stock, and the current management has rejected his offer to buy the company.
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