You might have heard: In a letter to Freedom Communications, the US Justice Department warned that if Tribune Publishing purchased the Orange County Register and Riverside Press-Enterprise, it would take antitrust action
But did you know: Tribune Publishing will be the new owner of Freedom Communications’ Orange County Register and Riverside Press-Enterprise, beating out Digital First Media and a group of local investors led by Freedom CEO Rich Mirman. At an auction yesterday, Tribune agreed to pay $56 million in cash for the newspapers and Freedom’s real estate in Santa Ana and Riverside. The Orange County Register reports that the auction “erupted into all-day battle,” and the group of local investors walked out on the all-day negotiations. What remains to be seen now is what kind of antitrust action the U.S. Department of Justice will take.
+ Ahead of the auction, Rick Edmonds questioned whether a newspaper company could even achieve a monopoly anymore: “Some would even question how much a big media company could stifle competition anymore with so many more news sources and advertising options available” (Poynter)
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