Sinclair Broadcast Group has vowed to revise its station divestiture plan in an effort to salvage its US$3.9 billion acquisition of Tribune Media.
Sinclair has also strongly denied any effort to mislead the Federal Communications Commission (FCC). The company it was “shocked” earlier this week when FCC chairman Ajit Pai raised concerns about the legality of its plan to maintain operational control of the stations by selling them to entities with ties to Sinclair.
The revised plan calls for Sinclair to acquire Tribune’s WGN-TV Chicago as part of the larger transaction. Sinclair is proposing that Tribune-owned stations in Dallas and Houston will be put into a divestiture trust and sold in an arm’s length transaction by an independent trustee after the Tribune sale is closed.
The Sinclair-Tribune deal has stirred opposition from many quarters given that it would make Sinclair by far the nation’s largest TV station owner with more than 200 stations under one roof.
Full Content: Variety
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
