The U.S. Department of Justice cleared the way last week for News Corp. to complete its planned $1.35 billion acquisition of Heritage Media.(Brief Article)

Broadcasting & Cable, August, 1997

The U.S. Department of Justice cleared the way last week for News Corp. to complete its planned $1.35 billion acquisition of Heritage Media and to spin off the Heritage broadcast properties to Sinclair for $630 million. Heritage and News Corp. said last week that the Justice Department informed them it would not challenge the sale on antitrust grounds.

Justice made its decision after reviewing a recommendation by its San Francisco field office that it block the acquisition. The sale is expected to close by year-end, with the broadcast spin-off expected to close by first quarter 1998.