Suit Contends Sale Could Give Hearst Unfair Stake

Law360, New York (September 8, 2006, 12:00 AM EDT) -- As the antitrust litigation over the McClatchy Co. newspaper sale unfolds, new court documents filed Friday claimed the controversial $1 billion deal could unfairly leave Hearst Corp., the owner of the San Francisco Chronicle, with a stake in its rival Bay Area papers.

On Friday, court papers filed in the U.S. District Court for the Northern District of California stated that a contingency plan connected to MediaNews’ purchase of four newspapers could enable Hearst to invest in all of the conglomerate’s holdings.

The documents were part...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.