Tribune Media Spikes Merger Deal With Sinclair, And Sues Its Former Suitor
#TIA – We’re delighted that Sinclair hasn’t yet been allowed to buy every TV station in America but don’t be surprised if the FCC doesn’t let it next week.
“Tribune Media Company is ending its troubled merger deal with Sinclair Broadcast Group, less than a month after federal regulators cited concerns about the plan. Tribune also filed a lawsuit accusing Sinclair with breach of contract.
“We’re obviously disappointed,” Tribune Media CEO Peter Kern said on a conference call Thursday morning. He added that Sinclair unfortunately chose to follow a strategy that he said was only in Sinclair’s own self-interest – and that damaged the deal.
The media merger hit the rocks on July 16, when Federal Communications Commission Chairman Ajit Pai said he had “serious concerns” about the merger because Sinclair’s plan to divest some stations might not satisfy federal laws.”
Read more at NPR