DOJ Rejects Sinclair Bid For Raycom TV Unit

Law360, New York (August 28, 2008, 12:00 AM EDT) -- The U.S. Department of Justice has rejected Sinclair Broadcast Group Inc.'s proposed $85 million acquisition of a television station owned by Raycom Media Inc., citing a prior agreement with Raycom that gives the DOJ the right to reject any potential buyer of the station.

On Wednesday, Hunt Valley, Md.-based Sinclair announced that antitrust regulators had declined to approve its acquisition of WTVR-TV in Richmond, Va. pursuant to a consent decree that Raycom had previously entered into in order to obtain DOJ approval of an earlier acquisition...
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