Newspaper article THE JOURNAL RECORD

Feds Embrace Sinclair's Reduced Expansion Offer

Newspaper article THE JOURNAL RECORD

Feds Embrace Sinclair's Reduced Expansion Offer

Article excerpt

WASHINGTON (AP) -- To resolve government antitrust concerns, Sinclair Broadcast Group agreed Thursday to a smaller expansion of its holdings in New Orleans radio stations than planned.

It will end up with six rather than nine stations there.

Baltimore-based Sinclair, which already owned four New Orleans radio stations, had planned to acquire three more from Heritage Media of Dallas and two more from Phase II Broadcasting of New Orleans. Under the agreement, it will sell three of the New Orleans stations to Centennial Broadcasting of Winston-Salem, N.C., including one of its original ones and two of those that Heritage had owned. The Justice Department said the revisions in the deal would give Sinclair less than 40 percent of the New Orleans radio advertising revenues, instead of 55 percent. "Sinclair was aware that its acquisitions in New Orleans raised competitive concerns and came to us before we began our investigation," said Assistant Attorney General Joel I. …

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