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FCC approves Viacom's takeover of CBS....
FCC approved CBS-Viacom merger this afternoon(the deal will close tomorrow).
However, in a somewhat surprising move FCC ordered Viacom to sell UPN within
the next 12 months in order to come into compliance with the dual network
ownership cap rules. FCC said Viacom must preserve UPN as viable network
during divestiture period(ie, Viacom can't shut it down). Also, Viacom has
6 months to divest some radio stations in Baltimore, Chicago, Dallas, L.A.,
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