Antitrust lawsuit filed against Raycom Media

The sale of WTVR was required as a result of Raycom's $583 million purchase in April 2008 of three stations and a sports syndication business from Lincoln Financial. One of the stations Raycom bought was the NBC affiliate in Richmond, WWBT.

As part an agreement for that sale, the Justice Department said it would sue Raycom if it failed to sell the CBS affiliate within 90 days of closing the transaction. The department on Thursday also proposed a settlement for Raycom to sell the station and resolve the suit.

On Wednesday, the Justice Department declined to approve Sinclair Broadcast Group Inc.'s proposed $85 million purchase of WTVR from Raycom.

Sinclair also owns the local Fox affiliate in Richmond, so the sale wouldn't have restored competitive conditions, said Laura Sweeney, a Justice Department spokeswoman.

According to the department's complaint, Raycom now owns two of the top four broadcast television stations in Richmond, as measured by advertising revenue. They account for more than 50 percent of broadcast television spot advertising revenue in the city, the department said.

A call to Raycom Media's legal department after business hours Thursday was not answered. The Montgomery, Ala.-based company owns or operations 46 television stations in 35 markets and 18 states.