Deals
Sinclair Buys Tribune in $3.9 Billion Deal, Creating TV Goliath
- Acquisition includes local TV stations in New York, Chicago
- 21st Century Fox, Nexstar had been said to plan offers
Sinclair Acquiring Tribune in $3.9 Billion Media Deal
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Sinclair Broadcast Group Inc. is buying Tribune Media Co. for about $3.9 billion, a deal made possible after the U.S. Federal Communications Commission voted last month to ease a limit on TV-station ownership in the U.S.
Sinclair will pay $43.50 a share to gain Tribune TV stations in big media markets like New York, Chicago and Miami, strengthening its hand in negotiations with pay-TV distributors and major broadcast networks like 21st Century Fox Inc.