A PYMNTS Company

US: DOJ may block Tribune’s bid for Freedom Communications due to antitrust issues

By  |  March 17, 2016

The owner of the Los Angeles Times was selected as the top bidder for the Orange County Register and Riverside Press-Enterprise, but must first overcome serious anti-trust concerns raised by the U.S. Department of Justice.

The $56-million cash purchase of Freedom Communications must be approved at a hearing in bankruptcy court on Monday. The sale would mark a deep expansion in Southern California for Tribune Publishing Co., which last year bought the San Diego Union-Tribune.

The company is looking to extend its reach in Southern California and save money by streamlining some business operations at a time when newspapers struggle to remain profitable.

The successful bid for the business of Freedom Communications will allow the Orange County Register and the Press-Enterprise to continue providing a distinct local voice in their communities and deliver premium news and information to consumers across Southern California,” Tribune Publishing Chief Executive Justin Dearborn said in a statement.

Full content: Daily News

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