KTLA Sale to Tribune Approved

The Federal Communications Commission today approved the $500-million sale of Los Angeles television station KTLA to the Chicago-based Tribune Co., and said it will give the company 18 months to sell a Los Angeles area newspaper and several cable TV franchises.

Tribune Co., which owns the Daily News, published in Van Nuys, and cable TV systems serving areas outside Los Angeles, was given a temporary waiver of the commission’s cross-ownership rules to give it time to sell those cable and newspaper properties.