GateHouse parent New Media Investments and Gannett have
gotten approval to merge from the Justice Department, the New York Post reported, citing a SEC filing.
The $1.4
billion deal will result in the country’s largest newspaper company.
The merged
operation will use the Gannett name and keep Gannett’s HQ in McLean , Virginia
“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,”
Gannett’s new chief executive, Paul Bascobert, said in a memo that was
disclosed in a filing with the Securities and Exchange Commission. “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.”
Bascobert
said he believes the deal will close by the end of this year.
The
European Commission and both firms’ shareholders need to approve the deal for
the merger to happen.
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