Nexstar Media and Tribune Media must divest television stations in 13 markets to resolve antitrust concerns over their proposed US$6.4 billion merger, the US Justice Department stated on Wednesday, July 31.
The markets are centered in Davenport, Iowa; Des Moines, Iowa; Ft. Smith, Arkansas; Grand Rapids, Michigan; Harrisburg, Pennsylvania; Hartford, Connecticut; Huntsville, Alabama; Indianapolis;Memphis, Tennessee; Norfolk, Virginia; Richmond, Virginia; Salt Lake City; and Wilkes-Barre, Pennsylvania, the Department said in a statement.
“Without the required divestitures, Nexstar’s merger with Tribune threatens significant competitive harm to cable and satellite TV subscribers and small businesses,” Assistant Attorney General Makan Delrahim said in the statement.
Nexstar announced in December it had agreed to buy Chicago-based Tribune in a transaction worth US$6.4 billion, a deal that would make it the largest regional US television station operator.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
