MCA Sale Clears Another Hurdle: The Federal...
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From Times Staff and Wire reports
MCA Sale Clears Another Hurdle: The Federal Communications Commission said it had approved the transfer of a New York-area television station from MCA Inc. to MCA shareholders, removing a barrier to the sale of MCA to Matsushita Electric Industrial Co. of Japan. Under federal law, Matsushita as a foreign corporation is barred from owning MCA’s WWOR-TV, based in Secaucus, N.J.
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