Tribune calls off nearly $4 billion Sinclair media deal [MSN Money]
Sinclair Broadcast Group, Inc. - Class A (SBGI)
Last sinclair broadcast group, inc. - class a earnings: 2/26 07:30 am
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Source: MSN Money
The Sinclair Broadcast Group acquisition of Tribune Media is dead. Load Error Tribune said in a statement Thursday that it has terminated its merger agreement with Sinclair, scuttling a $3.9 billion deal that would have given the broadcasting group an even broader reach into American living rooms. It's also suing Sinclair for breach of contract. The breakup of the deal is a stinging defeat for Sinclair, owner of dozens of local television stations. Sinclair has been scrutinized for its ties to the Trump administration. Tribune had been expected to walk away after the deal came under scrutiny from US regulators. The FCC in July referred the merger to an administrative judge hearing, often a death knell for these types of deals. The commissioners called into question whether some of Sinclair's proposed divestments were a sham because they were being sold to people so closely aligned with Sinclair. Wednesday was the first day Tribune was allowed to pull out of the de
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