Sinclair Station Sales May Be Needed as Tribune Review Nears End
Sinclair Broadcast Group likely will face demands to sell TV stations in at least 10 cities to satisfy regulators who are wrapping up a review of the company’s plan to buy Tribune Media Co. -- a $3.9 billion deal that would create a national broadcasting giant. Apparently, Federal Communications Commission staff members in a recent discussion focused on completing the review by a self-imposed deadline of Jan. 17. The deal would create a coast-to-coast string of stations exceeding current ownership limits and Sinclair has acknowledged that it might have to sell some of the stations. It would also give a broadcaster known for its conservative leanings fresh reach into leading media markets including New York, Los Angeles and Chicago. Any sales to secure antitrust clearance from the Justice Department will most likely come in the 10 localities where both Sinclair and Tribune stations are affiliated with major networks, said Bloomberg Intelligence analysts Jennifer Rie and Matthew Schettenhelm. Apparently, 21st Century Fox is finalizing the purchase of about 10 stations from Sinclair.
Sinclair Station Sales May Be Needed as Tribune Review Nears End Fox in talks to buy TV stations from Sinclair (The Hill)