MEDIA

Outdoor Systems Inc. Cleared for Gannett Unit Acquisition: The company won federal antitrust clearance for its $690-million acquisition of the Outdoor Division of Gannett Co. after agreeing to sell its Denver billboard operation. The Justice Department’s antitrust division required the divestiture because both companies operate billboard businesses in Denver, and there was concern the deal would reduce competition in that market. Phoenix-based Outdoor Systems will sell its Denver operation to Colorado Outdoor Inc., a venture formed by billboard operators in Denver. Outdoor Systems provides outdoor advertising in Arizona, Alabama, Colorado, Georgia, Indiana, Kentucky, Louisiana, Mississippi and Texas. The billboard division of Arlington, Va.-based Gannett operates in California and nine other states.