Media General Inc has won U.S. antitrust approval to buy LIN Media LLC after agreeing to divest television stations in five markets, the Justice Department said on Thursday.
The deal was valued at $1.6 billion when it was announced in March.
To win government approval for the deal, the companies have agreed to sell 7 television stations in 5 markets.
The companies also agreed to sell one station in Birmingham, Alabama, two in Savannah, Georgia, one near Alabama's border with Florida and two in Wisconsin.
Before the deal, Richmond, Virginia-based Media General operated 31 network-affiliated television stations and Austin, Texas-based LIN owned or operated 43 TV stations and seven digital channels in 23 markets across the country.
The Justice Department said in a competitive impact statement that if the deal were to have gone forward without the divestitures, the prices for advertising spots would have increased in the five markets.
Media General said in a statement that it was "pleased to see the regulatory approval process progressing for our merger with LIN Media."
