The FCC approved Storer’s leveraged buy-out.

However, the Federal Communications Commission said its approval of Kohlberg Kravis Roberts & Co.’s $2.5-billion buy-out was conditioned on Kohlberg Kravis selling one of the seven television stations that it will acquire in the deal, WTVG-TV in Toledo, Ohio. The Toledo station’s signal overlaps the signal of Storer’s Cleveland station in an area that has 128,000 residents, in violation of the FCC’s rule that allows a company to operate only one media outlet in a community.