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The Justice Department cleared News Corp.’s proposed acquisition of television-station operator Chris-Craft Industries Inc., pending the sale of a Chris-Craft station in Utah.
News Corp. (NWS) and Chris-Craft (CCN) have agreed to sell KTVX-TV, a Salt Lake City ABC affiliate, to resolve antitrust concerns surrounding the companies’ $5.3 billion proposed pact, the department said in a prepared statement released Wednesday.
Australia’s News Corp. owns Fox affiliate KSTU-TV in the Salt Lake City market, and without the sale of the ABC affiliate, the combined company would have owned two of the top four broadcast television stations in the market.
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