According to a press release put out by both companies on Tuesday,
The Washington Post Company (NYSE:WPO – News) and NBC Local Media today announced that the intended sale of WTVJ to The Washington Post Company will not move forward. Given the current economic environment, and the delay in receiving the necessary regulatory approval, the deal has been terminated. The purchase of WTVJ was scheduled to close by end of 2008.
Truth be known, the fact that Congress was taking notice about this made this deal a lost cause. Hopefully, this is the start of many duopolies being dismantled in major cities across the country.
Maybe, just maybe, the FCC will get some of its teeth back!