August 2008 :: Antitrust Lawyer Blog
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Squeezed On: August 28, 2008

DOJ APPROVES RAYCOM MEDIA’S ACQUISITION WWBT-TV

On August 28, 2008, the Department of Justice (“DOJ”) approved Raycom Media, Inc.’s (“Raycom”) acquisition of Richmond NBC affiliate, WWBT-TV from Lincoln Financial Media Company (“Lincoln”) after entering into a settlement agreement requiring Raycom to divest its Richmond CBS affiliate WTVR-TV to resolve antitrust concerns. This acquisition would have resulted in Raycom owning two of the top four local broadcast stations, in terms of advertising revenue.

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Posted In: DOJ Antitrust Highlights

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Squeezed On: August 26, 2008

FORMER NEW YORK STATE EMPLOYEE PLEADS GUILTY TO FRAUD AND TAX EVASION

On August 26, 2008, Edward P. Goldblatt pled guilty to fraud and tax evasion as a former purchasing warehouse assistant at the New York Power Authority (“NYPA”). Headquartered in Albany, NY, the NYPA is a non-profit energy corporation established by the State of New York providing low cost power to government agencies, municipalities, and private entities.

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Posted In: White Collar Crime Highlights

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Squeezed On: August 13, 2008

FTC SETTLES WITH SUN PHARMACEUTICAL REGARDING ITS ACQUISITON OF TARO PHARMACEUTICAL

On August 13, 2008, the Federal Trade Commission (“FTC”) ordered Sun Pharmaceutical Industry Ltd (“Sun”) to sell all rights and assets of three distinct generic formulations of the anticonvulsant drug carbamazepine to Torrent Pharmaceutical Ltd, a generic drug company based in India, for its acquisition of Taro Pharmaceutical Industries Ltd. (“Taro”) to proceed.

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Posted In: FTC Antitrust Highlights

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Squeezed On: August 7, 2008

BUREAU OF COMPETITION DIRECTOR JEFFERY SCHMIDT TO LEAVE FTC

On August 7, 2008, William E. Kovacic, the Federal Trade Commission Chairman, announced that Jeffery Schmidt, the Director of the Bureau of Competition for the past two and half years, will be leaving the FTC. Mr. Kovacic has named David P. Wales, the deputy director of the Bureau of Competition, as the Acting Director.

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Posted In: FTC Antitrust Highlights

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