The Department of Justice announced it will require Gannett, Belo and Sander Media to spin off Belo’s KMOV-TV St. Louis (CBS), in order to proceed with Gannett’s buy of Belo, and Sander’s related acquisition of six Belo TV stations that Gannett cannot hold under FCC rules. The department said that, without the required divestiture, Gannett would have gained a dominant position in broadcast television spot advertising in the St. Louis DMA, resulting in higher prices for advertisers.
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The Department of Justice announced it will require Gannett, Belo and Sander Media to spin off Belo’s KMOV-TV St. Louis (CBS), in order to proceed with Gannett’s buy of Belo, and Sander’s related acquisition of six Belo TV stations that Gannett cannot hold under FCC rules. The department said that, without the required divestiture, Gannett would have gained a dominant position in broadcast television spot advertising in the St. Louis DMA, resulting in higher prices for advertisers.
