FTC gave AT&T Broadband final legal clearance to complete sale of...
FTC gave AT&T Broadband final legal clearance to complete sale of Salt Lake Tribune newspaper to Denver-based Media News Group, nation’s 7th largest newspaper chain. Decision was given Dec. 22 but official publication was delayed. Companies cleared first legal…
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hurdle Dec. 15 when U.S. Dist. Court, Salt Lake City, denied request by newspaper’s managers to block sale on grounds AT&T had promised that managers’ group would have right to manage Tribune until 2002, when managers would receives option to buy paper. Managers had unsuccessfully contended new ownership would bring changes that would violate their management and option agreement. Court ruled managers’ pact with AT&T was tentative and not binding since major issues like price hadn’t been resolved. Managers didn’t appeal decision after court assured them it would be willing to hear any complaint involving violations of managers’ rights by new owners. AT&T acquired Tribune when it bought TCI in 1999. TCI bought paper in 1997.