Nexstar and Tribune have settled with the Justice Department to get their proposed $6.4 billion merger approved.
The FCC must still complete its public interest review of the merger, which goes beyond antitrust issues.
All they have to do to keep DOJ happy is to divest stations in 13 markets to resolve antitrust concerns.
Specifically, Justice filed a civil antitrust suit against the deal in the U.S. District Court for the District of Columbia Wednesday (July 31) , but at the same time filed the settlement that, if accepted by the court and they almost always are, would resolve the suit bcause Justice says the spin-offs remedy the competitive harms–higher retrans and spot prices–that are alleged in the complaint.
But Nexstar and Tribune have already agreed to that stipulation.
The merger would create the largest TV station ownership group in the U.S.
Now, the FCC gets to weigh in on “public interest” concerns – which really don;t matter to this FCC under Ajit Pai.
It’s practically done.