Washington -- The Federal Trade Commission has no antitrust
issues with the E.W. Scripps Co.'s deal to buy McGraw-Hill Broadcasting for
$212 million in cash.
Any deal valued at more than $66 million must be submitted
to FTC and the Department of Justice for antitrust review. The two agencies
divvy up the reviews and, if there are problems with antitrust issues, file
suit to block or settle on conditions and divestitures with the parties
involved.
The early termination of that review, which the companies
sought, means that, as far as FTC and the Justice Department are concerned, the
deal is good to go.
The deal is also being vetted by the Federal Communications
Commission, whose review goes beyond competition issues to determine if the
deal is in the public interest.
According to an FCC spokesperson, the proposed station sale
was placed on public notice Oct. 14. The public has 30 days from that date to
file petitions to deny or raise other objections, if any.
