US: DOJ may block Tribune’s bid for Freedom Communications due to antitrust issues
The owner of the Los Angeles Times was selected as the top bidder for the Orange County Register and Riverside Press-Enterprise, but must first overcome serious anti-trust concerns raised by the U.S. Department of Justice.
The $56-million cash purchase of Freedom Communications must be approved at a hearing in bankruptcy court on Monday. The sale would mark a deep expansion in Southern California for Tribune Publishing Co., which last year bought the San Diego Union-Tribune.
The company is looking to extend its reach in Southern California and save money by streamlining some business operations at a time when newspapers struggle to remain profitable.
The successful bid for the business of Freedom Communications will allow the Orange County Register and the Press-Enterprise to continue providing a distinct local voice in their communities and deliver premium news and information to consumers across Southern California,” Tribune Publishing Chief Executive Justin Dearborn said in a statement.
Full content: Daily News
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