Month: August 2018

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Trading Ideas

‘Sue Me,’ Sinclair Tells Justice Official as Tribune Deal Tanks

August 9, 2018 admin Comments Off on ‘Sue Me,’ Sinclair Tells Justice Official as Tribune Deal Tanks

The exchange was detailed in a lawsuit filed Thursday by Tribune, which said Sinclair had failed to win regulatory clearance in part because it had insulted U.S. officials and rejected their offers to clear the transaction. The acquisition of Tribune and its 42 television stations would have made Sinclair, already the owner of more U.S. TV stations than any other company, so large it would need to sell some outlets to meet regulatory requirements. In January, the Justice Department’s top antitrust official, Makan Delrahim, told the companies the department would approve the merger if Sinclair agreed to sell …read more […]

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Business News

Tribune Media ends merger deal with Sinclair, files suit

August 9, 2018 admin Comments Off on Tribune Media ends merger deal with Sinclair, files suit

Tribune Media Co terminated its $3.9 billion sale to Sinclair Broadcast Group on Thursday and sued Sinclair for breach of contract, claiming the rival TV-station owner mishandled efforts to get the transaction approved by taking too long and being too aggressive in its dealings with regulators. The collapse of the deal, hatched 15 months ago and backed by U.S. President Donald Trump, potentially ends Sinclair’s hopes of building a national Conservati

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