Sinclair Amends Tribune Merger In Hopes of Winning Regulatory Approval
July 19, 2018
In an effort to appease regulators, Sinclair Broadcast Group is amending its deal to buy Tribune media.
On Wednesday, the company announced it will not divest three TV stations in Dallas, Chicago, and Houston, which it had previously said it would sell, in the hopes of winning approval for the $3.9 billion merger. In a statement, the company said it hoped this would "expedite" the transaction.
On Monday, FCC Chairman Ajit Pai threatened the deal when he said he had "serious concerns" with the merger. He also said he was asking for an administrative hearing, usually the first step in the FCC's process for nixing a merger.
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