By: Staff Reports
Reilly’s Bid To Stop Sale Of Examiner Fails
A federal judge said late Thursday he would not block the sale of the San Francisco Chronicle to the Hearst Corp. of New York, according to reports on SFGate.com and from The Associated Press. The decision clears the way for Hearst to sell the San Francisco Examiner to Ted Fang, a local businessman.
U.S. District Judge Vaughn Walker said the sale would not break antitrust laws, pointing to the Examiner’s financial woes and the entrance of a competing daily, the San Jose Mercury News into the San Francisco market.
Hearst said it would move quickly to close the sale of the Examiner.
The ruling rejects a move by local businessman Clint Reilly, who objected to both the Hearst purchase of the Chronicle and the sale of the Examiner to the Fang family. Reilly claimed the deal would give Hearst a monopoly in the market.