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Gray-Raycom merger wins U.S. antitrust approval, with conditions

WASHINGTON (Reuters) - Gray Television Inc GTN.N has won U.S. antitrust approval to buy Raycom Media Inc [RYCMD.UL] on condition that it sell several television stations, the U.S. Department of Justice said on Friday.

The deal was valued at $3.65 billion when it was announced in June.

Gray said at the time it was seeking to push into more local television markets and to attract additional advertising.

To resolve antitrust concerns, the companies agreed to sell 10 stations in nine markets stretching from Texas to the southeastern United States.

Reporting by Diane Bartz; editing by Grant McCool

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