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Gray Television closes on acquisition of Quincy Media stations


QUINCY — The acquisition of stations owned by Quincy Media Inc., parent company of WGEM-TV/FM/AM, by Gray Television closed.
Atlanta-based Gray announced Monday that the $925 million acquisition was completed, as well as the sale of 10 QMI stations in the seven Gray/QMI overlap markets to Allen Media Group.
In February, QMI announced shareholder approval for the company’s television and radio properties.
Gray announced in April that it would sell former QMI stations based in Tucson, Ariz.; Madison Wis.; Carbondale, Ill., Waterloo, Iowa; LaCrosse, Wis., Wausau, Wis., and Rockford to Allen Media Group to facilitate regulatory approval.
Last week, the U.S. Department of Justice’s Antitrust Division announced it would require Gray and QMI to divest 10 stations in seven markets as a condition of resolving a challenge to Gray’s acquisition. ....

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Executive Order Launches 'Whole-of-Government' Antitrust Initiatives but Implementation Faces a Long Road Ahead | Skadden, Arps, Slate, Meagher & Flom LLP


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Over the course of his first six months in office, President Joe Biden has signaled a clear commitment to reinvigorate antitrust enforcement. On July 9, 2021, he took his most specific and comprehensive action on the subject yet, issuing an Executive Order on Promoting Competition in the American Economy (the Order).
1 A newly created White House Competition Council will oversee what is described as a “whole-of-government approach” that involves over a dozen federal agencies collaborating to carry out the Order’s 72 initiatives. The council, led by the director of the National Economic Council, will act as the nerve center, coordinating the implementation of the Order’s initiatives. ....

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