trending Market Intelligence /marketintelligence/en/news-insights/trending/4eewog5kaz0jokdvmkqo5w2 content esgSubNav
In This List

Sinclair moving forward with station divestitures to win Tribune deal approval

Blog

Europe: 5 key OTT trends to watch in 2022

Blog

Broadcast deal market recap 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Sinclair moving forward with station divestitures to win Tribune deal approval

Sinclair Broadcast Group Inc. executed asset purchase agreements with third parties and filed applications for the Federal Communications Commission's approval for the assignment of licenses of television stations WGN-TV in Chicago and WPIX-TV in New York.

The company also intends to sell Tribune Media Co. station KSWB in San Diego and seek the FCC's approval.

According to an amended filing with the FCC, Sinclair plans to sell one or more stations in nine markets where it overlaps with Tribune to comply with the FCC's duopoly rule. The markets are Seattle-Tacoma, Wash.; St. Louis; Salt Lake City; Oklahoma City; Greensboro-High Point-Winston Salem, N.C.; Grand Rapids-Kalamazoo-Battle Creek, Mich.; Richmond-Petersburg, Va.; Des Moines-Ames, Iowa; and Harrisburg-Lancaster-Lebanon-York, Pa.

The amended filing excluded Harrisburg-Lancaster-Lebanon-York from the markets where the company previously sought to own two of the top four stations. Sinclair is now seeking FCC consent to own two top-four stations in Greensboro-High Point-Winston Salem, N.C.; and Indianapolis.

Sinclair in May 2017 agreed to buy Tribune Media for $43.50 per share, and Tribune recently extended their merger closing date and promised to provide a 10-day advance notice to the U.S. Department of Justice when they intend to finalize the deal.