Law360, New York (March 19, 2014, 10:39 PM EDT) -- On March 12, 2014, the Media Bureau of the Federal Communications Commission issued a public notice providing guidance on how it will review pending and future proposed broadcast television acquisitions that contain sharing arrangements or contingent interest agreements (such as option agreements or loan guarantees).[1] A statement from the Media Bureau chief accompanying the public notice states that the newly issued guidance is "not a change in our underlying rules or [] polices,"[2] but there are important respects in which this guidance appears to depart from current practice or adds potentially material new dimensions to the FCC review process for transactions involving such arrangements....