COMPANY TOWN ANNEX

FCC May OK Infinity Deal for KRTH-FM: Radio shock jock Howard Stern’s employer may be allowed to buy the big Los Angeles station as FCC members back away from earlier threats to block the deal, the New York Times and the Washington Post reported last week. The FCC discussed penalizing Stern’s employer by nixing the purchase, but the commission is concerned that such drastic punishment would be overturned in court, the newspapers said. A favorable decision for Infinity Broadcasting Corp. of New York is expected by Tuesday, the newspapers said.