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U.S. approves Gannett purchase of Belo minus one TV station

Source: Reuters - Mon, 16 Dec 2013 06:12 PM
Author: Reuters
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WASHINGTON, Dec 16 (Reuters) - Gannett Co Inc can move ahead with its purchase of Belo Corp as long as the deal does not include KMOV-TV, a television station in St. Louis, antitrust enforcers at the U.S. Justice Department said on Monday.

The station would give Gannett a dominant position in the St. Louis area if it were part of the deal, resulting in higher prices for advertisers, the department said in a statement.

The department said it had filed a proposed settlement in court that, if approved by a judge, would resolve its competitive concerns.

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