That didn’t take long….
The The Justice Department has given its OK to sale of 15 TV stations from Cordillera Communications to Scripps.
The dollar amount pegged to the deal was $521 million.
The deal was announced back in October and despite the government shutdown it already has the DOJ’s blessing.
The DOJ sign off means they have no issues that would cause the deal to be blocked or conditioned. The deal gives Scripps 51 stations in 36 markets reaching 21% of U.S. households.
Now the FCC needs to give the deal its final approval and it will be done.
The consolidation of this industry continues and unless you are a deep pocket corporation, it is not good.
But, as we all know money is what makes the world turn.