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Tribune Media nixes $3.9B Sinclair merger, cites misleading FCC as contract breach

August 9, 2018 /

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Tribune Media has called off the planned $3.9 billion sale of 42 TV stations to the Sinclair Broadcast Group, saying the nation’s largest broadcast chain breached its contract by misleading regulators during the transaction’s approval process.

Chicago-based Tribune said Thursday it filed a lawsuit against Sinclair, seeking payment for losses that occurred during the merger discussions.

The deal, announced in May 2017, would have given Hunt Valley, Md.-based Sinclair, already the nation’s largest U.S. broadcaster, a total of 215 TV stations and a reach of 71 percent of U.S. homes.

Mike Snider, USA TODAY

https://www.usatoday.com/story/money/media/2018/08/09/sinclairs-3-9-billion-deal-tribunes-42-tv-stations-scrapped/944403002/

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