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US: DOJ agrees to concessions in Media General’s $1.6B buy

By  |  October 30, 2014

Media General earned approval by regulators to acquire LIN Media in a $1.6 billion transaction first announced last March, say reports.

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    The US Department of Justice reportedly agreed to concessions offered by Media General to divest television stations in several markets across the US; a total of seven stations.

    In reviewing the agreement, the DOJ found that the merger would have lead to higher advertising costs in the overlapping markets.

    Despite the forced sales, Media General said in a statement that it is “pleased” that regulators will allow the takeover to proceed.

    Full content: Reuters

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