| FOR IMMEDIATE RELEASE
WEDNESDAY, JANUARY 27, 1993
TDD (202) 514-1888
JUSTICE DEPARTMENT WILL NOT CHALLENGE HEARST'S
WASHINGTON, D.C. -- The Department of Justice today announced that it has informed The Hearst Corp. and News America Publishing Inc. that the Department does not intend to challenge under antitrust laws Hearst's proposed acquisition of the San Antonio Express-News from News America. Hearst owns the San Antonio Light, the only other daily newspaper in San Antonio, Texas.
On October 6, 1992, Hearst publicly announced its proposed acquisition of the San Antonio Express-News and that it would close the San Antonio Light if it could not find a buyer for the newspaper.
The Department's decision not to challenge Hearst's acquisition comes after an exhaustive investigation in which it concluded that the San Antonio Light met the stringent requirements of the failing firm defense under established antitrust case law and the Department's 1992 Horizontal Merger Guidelines.