DOJ Files Suit Against Raycom
The Department of Justice filed a civil antitrust lawsuit against
Raycom Media Inc. on Thursday because the company hasn’t yet sold its
Richmond, Va., CBS affiliate following the company’s acquisition of the
NBC affiliate in that market, the Wall Street Journal reports.
Seeking to preserve competition in Richmond, the Justice Department
asked Raycom to divest the CBS affiliate within 90 days of the closing
of its April acquisition of NBC-affiliate WWBT-TV from Lincoln National Corp. Raycom bought three television stations and a sports syndication
business from Lincoln, a financial-services firm, for $583 million.
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