U.S. Sues Cox Enterprises Inc.: The Justice...
From Times Staff and Wire Reports
U.S. Sues Cox Enterprises Inc.: The Justice Department sued Cox, which owns television and radio stations and 20 newspapers, accusing it of failing to seek federal approval before buying $101 million in stock in Miami-based Knight-Ridder Inc. The Hart-Scott-Rodino Act requires individuals or companies that are planning mergers or stock purchases of a certain size to notify federal regulators before completing the deals. The lawsuit seeks a civil penalty of $3.67 million, or $10,000 for each of the 367 days that Justice Department alleges that Cox was violating the statute.
