Gannett Must Dump TV Station In $2.2B Belo Deal, DOJ Says

Law360, Los Angeles (December 16, 2013, 4:41 PM EST) -- The U.S. Department of Justice said Monday that it would approve a merger deal valued at $2.2 billion if Gannett Co. Inc. and its deal partners agreed to dump their interests in a St. Louis TV station, the agency said in a statement.

Without the divestiture, Gannett’s deal to buy Belo Corp. would have gained it a dominant position in broadcasting in the St. Louis market, unfairly lifting the price of advertising, the agency said.

The Justice Department’s Antitrust Division filed a lawsuit to block the...
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