Post-Newsweek Stations, a division of The Washington Post Co. will not be acquiring WTVJ-TV, the owned-and-operated NBC station in Miami.
Late on Tuesday (Dec. 23) the two companies announced that the intended sale would not move forward because of "the current economic environment and the delay in receiving the necessary regulatory approval."
The sale of the station for an estimated $350 to $400 million, was originally announced in July. If it had gone through, the deal would have given Post-Newsweek, which owns WPLG, the ABC affiliate in Miami, a duopoly in the 16th largest market.
Set to close by the end of the year, the Federal Communications Commission was slow to give the green light to a deal that would allow one group to own two major network affiliates, even though the NBC station was ranked No. 6.