Complex sentence: Combined's ownership of KTAR-AM-TV had been grandfathered earlier in the decade when the FCC forbade common ownership of television and radio stations in the same market, but with the Gannett merger, KTAR-AM-TV lost its grandfathered protection.
Split into simpler sentences: Combined's ownership of KTAR-AM-TV had been grandfathered earlier in the decade when the FCC forbade common ownership of television and radio stations in the same market. However, with the Gannett merger, KTAR-AM-TV lost its grandfathered protection.