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Gray Television Shedding 10 Stations For $925M Deal
Law360 (July 28, 2021, 8:01 PM EDT) The U.S. Department of Justice on Wednesday accepted Gray Television Inc. s offer to unload 10 broadcast television stations to address concerns about overlaps that would result from the TV station owner s planned $925 million purchase of Quincy Media Inc.
The DOJ s Antitrust Division said in a statement Wednesday that without the fix, Gray s acquisition of Quincy would have eliminated head-to-head competition between stations in seven local markets in Arizona, Illinois, Iowa, Kentucky and Wisconsin.
Acting Assistant Attorney General Richard A. Powers, head of the DOJ s antitrust unit, said Wednesday the move would have threatened significant harm to cable and satellite subscribers,.
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