Gannett, GateHouse Media merger clears antitrust review
Federal regulators have cleared the way for a proposed $1.4 billion merger between newspaper giants Gannett and GateHouse Media.
The merger has passed an antitrust review by the U.S. Department of Justice, according to a filing with the U.S. Securities and Exchange Commission.
"We are pleased to report that the Antitrust Division of the U.S. Department of Justice has completed its review of New Media's proposed acquisition of Gannett. As a result, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired, and we have domestic antitrust clearance for the merger," Gannett CEO Paul Bascobert said in a memo that was included with the securities filing.
Bascobert's memo said he expects the deal to close by the end of 2019, although it still has to be cleared by European regulators and receive approval from both companies' shareholders.
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