FTC OK With Scripps/McGraw-HillFound no antitrust issues with the $212M deal 10/31/2011 11:25:50 AM Eastern
The Federal Trade Commission has no antitrust issues with Scripps' deal to buy McGraw-Hill Broadcasting for $212 million in cash.
Any deal valued at over $66 million must be submitted to FTC and Justice for antitrust review. They divvy up the reviews and, if there are problems with antitrust issues, file suit to block or settle on conditions and divestitures with the parties involved. The early termination of that review, which the companies sought, means that, as far as FTC and Justice are concerned, the deal is good to go.
The deal is also being vetted by the FCC, which goes beyond competition issues to public interest determinations. According to an FCC spokesperson, the proposed station sale was placed on public notice Oct. 14. The public has 30 days from that date to file petitions to deny or other objections, if any.