14 November 2012 6:11 PM, PST | Deadline TV | See recent Deadline TV news »

The FCC is poised to decide whether to allowing Tribune Co. to retain control of TV stations and newspapers in five major markets, Bloomberg reports. FCC Chairman Julius Genachowski recommends agency approval of Tribune’s license transfers as well as a plan to relax overall media cross-ownership rules in the top 20 markets. Tribune, which already has waivers for the stations in question, needs FCC approval to transfer the licenses to new ownership to emerge from bankruptcy. Those stations are in New York, Los Angeles, Chicago, South Florida and Hartford, Conn. The broader proposal will allow common ownership of a daily newspaper and a TV station in the top 20 markets. The five-member commission could vote on Genachowski’s proposal for broad cross-ownership relief in coming days without meeting in public. Tribune transfers could take effect November 16 if no commissioner objects. »

- THE DEADLINE TEAM

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