The Department of Justice may soon have sole antitrust oversight authority over radio mergers. Under a Bush Administration plan, the DOJ and the Federal Trade Commission would review announced mergers for several industries, with the DOJ overseeing all media deals that warrant antirust review.
“The cooperative effort between the (DOJ) and the FTC would provide greater certainty and efficiency that the current process,” said a Justice Department spokeswoman. “We are meeting with congressional staff and look forward to resolving any questions they may have so that we may implement the proposed agreement as soon as possible.”
The radio industry was abruptly introduced to the DOJ antirust review process soon after passage of the Telecom Act, when suddenly large numbers of radio mergers involved enough money to warrant antitrust scrutiny. The DOJ and the FCC both review radio mergers; many broadcasters say the process has led to duplication of efforts and lengthy waits for merger approval, sometimes long enough to tank a deal.
Antitrust Review to be Simplified?
Antitrust Review to be Simplified?
