US: DOJ OKs Gray Raycom merger

The Department of Justice (DOJ) has given its approval of Gray’s merger with Raycom Media. Divestment of broadcast television stations in nine markets is needed as a condition of resolving “a challenge” to the proposed US$3.6 billion merger between Gray and Raycom.

The Justice Department’s Antitrust Division filed a civil antitrust lawsuit in the US District Court for the District of Columbia to block the proposed merger. At the same time, the Division filed a proposed settlement that, if approved by the court, would resolve the suit by remedying the competitive harms alleged in the complaint, through the divestitures and related conditions.

“Without the required divestitures, Gray’s merger with Raycom threatens serious competitive harm to cable subscribers and small businesses,” said Assistant Attorney General Makan Delrahim of the Justice Department’s Antitrust Division. “I am pleased, however, that we have been able to reach a speedy and complete resolution of the Division’s concerns, thanks in part to the parties’ commitment to engage in good faith settlement talks from the outset of our investigation.”

Full Content: Variety

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