FEDERAL COMMUNICATIONS COMMISSION June 5, 2012 ..JULIUS GENACHOWSKI CHAIRMAN The Honorable Maxine Waters U.S. House of Representatives 2344 Rayburn House Office Building Washington, D.C. 20515 Dear Congresswoman Waters: Thank you for your letter expressing concerns about the accountability of investment banks and private equity firms with respect to the Commission's public interest and disclosure requirements in media bankruptcy situations like that involving the Tribune Company. You identify several important public policy issues in your letter, and we will include your letter in the record for both the Tribune transaction proceeding and the Commission's cunent review of its media ownership rules. The Tribune Company and its licensee subsidiaries filed sixteen applications in April 2010, proposing to assign a number of its licenses under its Joint Plan of Reorganization. The Commission cannot act on the Tribune applications until the bankruptcy court approves the company's reorganization plan. The next court hearing is scheduled for June 7, 2012. In the interim, the Commission's Media Bureau has taken several steps to invite and facilitate public participation in the Tribune proceeding. As a result, the Bureau received a broad range of petitions and public comments, and has held a number of meetings with interested parties. Your concerns will be considered carefully as part of the record when the Commission moves forward with its evaluation of the Tribune applications. I appreciate your interest in this matter. Please let me k.now if I can be of any further assistance. Julius Genachowsk.i 445 12n-l STREET S.W. WASHINGTON, D.C. 20554 • 202-418-1000