Media Executive John Malone to Pay $1.4 Million Civil Penalty for Violating Antitrust Premerger Notification Requirements
Media Executive John Malone to Pay $1.4 Million Civil Penalty for Violating Antitrust Premerger Notification Requirements
Media executive John C. Malone will pay a $1.4 million civil penalty to settle charges that he violated premerger reporting and waiting requirements when he acquired Discovery Holding Co. voting securities. The Departments Antitrust Division, at the request of the Federal Trade Commission, filed a civil antitrust lawsuit today in U.S. District Court in Washington, D.C., against Malone for violating the notification requirements of the Hart-Scott-Rodino (HSR) Act of 1976. At the same time, the Department filed a proposed settlement that, if approved by the court, will settle the charges.