Thursday, November 30, 2017

Sinclair Leaning Toward Selling-off Some Trib Stations


Sinclair Broadcasting is close to accepting a remedy proposed by President Trump’s Department of Justice to allow its $6.6 billion buyout of Tribune Media to gain regulatory approval, The NYPost has learned.

The feds want Sinclair, whose 193 TV stations spread over 89 markets makes it the largest TV station owner in the country, to sell 13 Tribune stations, sources said.

Sinclair is hoping to get that number down to 10 stations, sources said — but is ready to accept the Justice Dept.’s offer to get the deal done.

Previously, Sinclair had been trying to persuade the antitrust poobahs to expand the definition of market share from just TV broadcast advertising to both cable and broadcast advertising.

Under an expanded view, Sinclair felt it wouldn’t have to sell any of the 42 Tribune stations it was buying. That argument was not successful.

AT&T, by contrast, is fighting Uncle Sam’s reported request to sell some of Time Warner’s networks — like CNN — to get its $85 billion deal done.

AT&T and the feds are now battling it out in court.

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