Word: antitrusters
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...Antitrust case dropped
...word of the unorthodox financial arrangement spread among Globe-Democrat staffers, some denounced the deal as a violation of the spirit of antitrust legislation. Yet the plan appeared to be legal For the record, the Newhouse chain was compelled to offer the Globe-Democrat for sale last week, and the Justice Department then obtained the names of more than a dozen potential buyers. Assistant Attorney General William Baxter stipulated: "If one or more satisfactory expressions of interest are received before 5:30 p.m. on Nov 22, a reasonable opportunity will be provided by Newhouse and Pulitzer to negotiate the purchase...
...other bars to competition began to fall. By the end of the 1960s certain forms of long-distance telecommunications other than Bell's were approved by the FCC. Still, Bell supplied 79.5% of U.S. telephone service. That was too much, said antitrust enthusiasts. On Nov. 20, 1974, the Justice Department filed a suit to break off Western Electric, the telephone company's manufacturing division, from the rest...
Whether the company was guilty of antitrust-law violations has never been proved, although some suits by competitors have yet to be resolved. Some Wall Streeters think AT&T gave in too easily and in fact could have struck some sort of compromise short of total breakup. But all that is now academic. As AT&T Chairman Charles Brown says of divestiture: "The ship has left the dock...
...joint statement, LTV Chairman Raymond Hay and Republic Chairman Bradley Jones said that no antitrust problems should arise from Washington because the merger would create "a stronger, more efficient steel company, better able to compete in a new world-market environment." Jones will head LTV Steel, which will be headquartered in Cleveland. Some Republic employees suggested in jest that the new company be called Bradley Jones & Laughlin...